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NBA games in virtual reality have potential. Here’s what watching one is like

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Jabari Young wearing the Oculus Quest 2 device.

Source: Jabari Young

Boston Celtics head coach Ime Udoka popped up from the team bench, and before I knew it, he was blocking my view. Indiana Pacers coach Rick Carlisle was close enough for me to see his Cole Haan shoes, and I saw a Lance Stephenson 3-pointer from an angle I’d never seen before.

That’s just some of my recent experience watching an NBA game while wearing a virtual reality headset.

The National Basketball Association is offering virtual courtside seats on Meta‘s $299 Oculus Quest 2 devices. The headsets were one of the most popular Christmas gifts in 2021, showing that people seem to be more willing than ever to give virtual reality a try. And businesses are trying to keep your eyeballs on their content by creating VR versions of their apps and games.

An Oculus Quest 2 virtual reality headset and controllers, taken on September 28, 2020.

Phil Barker | Future | Getty Images

The NBA experience is free and available on Meta’s Horizon Venues platform, which is a free software download for the Oculus headset. People appear as digital avatars, sort of like cartoon versions of their real selves, and watch an NBA game from a courtside perspective. It’s not Jack Nicholson’s Los Angeles Lakers seat at Crypto.com Arena or Spike Lee’s seat at Madison Square Garden, but it almost replicates the real thing.

From a business perspective, the deal could give the NBA a new set of media rights, which is important as regional sports networks struggle.

Meanwhile, Meta — the company formerly known as Facebook — is using the partnership with sports providers including the NBA, WWE and Premier League to give people new reasons to try virtual reality.

Mark Zuckerberg’s company is making a $10 billion investment in the metaverse, a virtual world he believes will become the standard for social networking, gaming and even work.

Meta sent CNBC the Oculus 2 headset last month. I experienced the Jan. 10 NBA courtside game between the Celtics and Pacers. Here’s what you need to know.

The Celtics Jaylen Brown drives to the basket between the Pacers Jeremy Lamb (left) and Myles Turner (right) in a regular season NBA basketball game at TD Garden in Boston on Jan. 10. 2022.

Jim Davis | Boston Globe | Getty Images

The experience isn’t ‘trash’

First, you should know you’re prohibited from watching if you live in the market where an NBA game is being broadcast on TV. The NBA uses RSN feeds from its League Pass product, and local markets are subject to the same annoying restrictions you run into elsewhere.

Once you get in the game, you’ll instantly notice other avatars engaging in live discussions. The closeness of the action grabs your attention, too. It’s here that you get immersed in the experience, as it actually feels a lot like being in a courtside seat, right down to the engagement with nearby fans.

There are two levels in the digital room where you can watch the game. The first level is usually where the crowd watches while chatting, and on this night, I counted about 15 people in the room during the first quarter.

The balcony level is quieter for a more private setting, and the view is fine.

Don’t be afraid to spark up a conversation with an avatar whose microphone is on, especially if you need help navigating the room, which looks like two levels of a private social club.

As the Celtics were up 23-18 in the first quarter, one avatar approached me to ask for assistance on watching. I was confused at first, as my stream was fine, but it became clear the real person behind the avatar had a bad connection or was restricted due to local blackout rules.

That prompted him to label the NBA’s metaverse experience “trash.” Moments later, I asked another avatar standing next to me what he thought of the experience.

“This is dope,” responded the avatar named “TUtley.” “They need to get this for football.”

The scenic views of Boston that appeared during game breaks were pretty impressive, too, and gave me a sense of being in the city where the game is played.

The negatives: Glitches and picture quality

“Yo, man! Are you alright,” I overheard one avatar asking another.

The avatar in question was slumped over and unresponsive. It almost appeared the metaverse figure was having a seizure. 

The avatar eventually regained his form and started talking, but that glitch was certainly weird.

The controllers are your hands in the metaverse, so it can be weird seeing nearby avatars with their hands and arms looking misaligned with their bodies.

In the fourth quarter, Stephenson nailed a 3-pointer, and Pacers forward Torrey Craig then converted a layup to cut the Celtics lead to three, 71-68.

Witnessing the close sequence was fun, but the relatively poor picture quality eventually became noticeable. TV and video providers have spoiled viewers with high-definition games. So, any slight difference in quality is quickly noticeable.

The NBA works with VR production company Media Monks to show the games on the Oculus platform. 

During the NBA’s pandemic “bubble” season in Orlando, the firm used Sony’s FX6 cameras, which cost roughly $6,000, to shoot VR games. This season, though, games are being shot with Sony FX9 cameras, which cost about $11,000.

But Meta frequently experiments with resolution and frame rates of the VR games, which are still technically in “beta,” or testing mode. Media Monks places five cameras in NBA arenas but added a sixth for the Celtics-Pacers game to capture a sense of space.

One FX9 camera is at the announcer’s table, offering the front row view. FX9 cameras are also on each backboard. One is used to capture far shots and another for roving. 

The cameras switch angles during the game, which can be annoying but necessary when coaches accidentally block the view. Udoka’s leg was in my face every time he walked to center court, for example.

The featured moderator is former NBA forward Richard Jefferson, but the commentating is dull at times. And the trivia questions don’t help.

Meta uses former NBA players such as Jefferson to interact with avatars attending the courtside experience. And in some contests, commentators could appear in the room as actual avatars to chat with fans.

We’ll see how exciting that actually is when it happens.

A screenshot of Jabari’s home screen reminding of an NBA virtual reality event on the Oculus Quest 2 platform.

Jabari Young | CNBC

Finally, the selection of games could be better. Celtics-Pacers was fine, but marquee matches would be more appealing and might attract more people, making it an even more social experience.

The next two NBA VR games on Oculus are scheduled for Jan. 17 — Covid postponements permitting — featuring the Oklahoma Thunder playing Mark Cuban’s Dallas Mavericks. The Jan. 22 VR experience has the Sacramento Kings playing the NBA champion Milwaukee Bucks.

Those aren’t necessarily must-see games.

What’s next

Meta’s Oculus Quest 2 virtual reality headset.

T3 Magazine | Future | Getty Images

Shaw said the new Oculus Quest 2 and its distribution have made a big difference since then. He noted the device is lighter, has better visuals and is cheaper than its $399 sister device, making it more popular as a gift.

“Now, we’re in the foundational moments of building and learning the experience,” said Shaw.

I asked whether the NBA experience would stay free, and Shaw didn’t rule it out.

“I think the business model can be redefined,” he explained. “It’s not necessarily going to have to be pay-per-view but an economy that can be built around the viewership experience.”

He added that if the VR experience can truly evolve to mimic being courtside, “I can see them wanting to put a price point on a ticket. But that’s a decision to be made by the league and media company.”

Ultimately, it’s up to the NBA whether to charge consumers. The league didn’t make an official available to CNBC to discuss it.  

While the NBA remains silent on the matter, Meta is looking forward.

Shaw envisions immersive VR ads and allowing users to purchase avatar jerseys from a metaverse NBA store. Then, for an extra fee, private live-screening options. There are ideas around a sports bar courtside seat experience and VIP options that include watching games with an NBA legend or celebrity.

“I do think sponsorship can be redefined,” Shaw said. “The brand activation that is historically limited in-venue suddenly becomes more accessible and customizing to the metaverse.”

— CNBC’s Steve Kovach contributed to this article.



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Metaverse

Metaverse Real Estate Market is Growing at 31.2% CAGR to

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London, UK, Jan. 25, 2022 (GLOBE NEWSWIRE) — According to Brandessence market research, the Metaverse Real Estate Market size is Expected to grow at 31.2% CAGR during 2022-2028. Soaring popularity of metaverse real estate across the globe and rising inclination towards NFTs in the metaverse environment are some of the major factors driving the growth of Global Metaverse Real Estate Market.

A sudden popularity of metaverse in real-estate market is skyrocketing and various investors are willing to pay millions. The market is expected to witness an attractive growth in the coming few years. Metaverse is a step in the direction of the digitalization of the real world. It is referred to as a decentralized computing platform and virtual reality experience contained various diverse digital realms. Over the past few months, the term “Metaverse” has been rising in popularity owing to the business opportunities that arose. Players can purchase land, build stores, and art galleries in this metaverse real estate platform. Metaverse real estate is one of the platforms where one can do anything they want to do in a virtual world. The price of virtual real estate is based upon most of the same factors as one has to determine the value of a piece of actual real estates such as location, lot size, existing structures, and demand all play a huge role in valuation.

Get Sample Copy of This Premium Report@ https://brandessenceresearch.com/requestSample/PostId/1818

Metaverse Real Estate Market Key Players: Linden Lab, Metaverse Group, Decentraland Marketplace, Zillow, many more.

Global Metaverse Real Estate Market Dynamics:

Increasing investment in metaverse real estate market and growing popularity among the population are some of the major factors driving the market growth. Metaverse real estate is the latest buzzworthy investment right now which is hugely gaining popularity all over the world. Number of players fully intend to generate spaces like virtual malls and other rentable properties. The concept of metaverse real estate captured the hearts and minds of nearly 70% of Americans. As, the masses of metaverse real estate platforms, like Decentraland, Sandbox and many others are available nearby the world. For example; Metaverse Group, one of the first companies to get into the digital real estate business operated a virtual world called Decentraland. Token.com announced that on average 116 parcel estates were sold for the equivalent of about USD 2.5 million. As well as, on December 8th, 2021, The Sandbox platform trading in virtual real estate has about 2,182 sales in a week. Further, Decentraland has approximately 339 total sales of metaverse real estate. Real estate in the metaverse is an amazingly speculative investment and hence gaining huge opportunities in this digital realm. Consequently, this factor is intensively flourishing the growth of the market for metaverse real estate across the globe.

In addition, the enormous inclination towards NFTs in the metaverse real estate environment is another aspect that is augmenting the evolution of the market. For example; the data from the platform NonFungible.com indicated that there has been across USD 300 million in NFT sales in December 2021. Of that total, nearly a quarter has been for digital land in The Sandbox metaverse. Also, on January 4th, 2022, PwC bought virtual land NFT in the Sandbox’s metaverse. Apart from the aforementioned points, in 2020, throughout an online auction, there was a digital artwork that sold for on an average five hundred thousand USD. It was the first NFT digital house sold and was a landmark moment in NFT technology. This sale marked the start of the craze around virtual real estate NFTs. The metaverse is an immersive virtual reality experience of the internet that uses NFT technology to pay and own items online. As a result, NFT is playing a vital role in the real estate platform of the metaverse which is further pushing courtesy of millions of people towards it. Hence, soaring demand of NFTs in metaverse land is more expressively booming the market for global metaverse real estate.

However, high cost of metaverse real estate and lack of awareness especially in emerging countries which may hamper the market growth. As, Sandbox’s top seller, LAND #48766, was sold for around USD 57,171.00 or Decentraland’s top seller, EST #1965, for almost USD 758,250.00. This may pessimistically affect the metaverse real estate market all over the world. Despite this, technological advancements in terms of security in devices and improved user security & high confidence among users can provide massive opportunities for the further growth of the global metaverse real estate market.

Global Metaverse Real Estate Market Segmentation:

The Global Metaverse Real Estate Market is segmented on the basis of component, end-use, and region & country level. Based on component, the metaverse real estate market is divided into hardware and software. Based on end-use, the metaverse real estate market is divided into residential and commercial.

Get Methodology @ https://brandessenceresearch.com/requestMethodology/PostId/1818

News: T&B Media Launched ‘Translucia’ Metaverse, a Virtual World, Partnering with MQDC in Property — a New World First

On September 30th, 2021; T&B Media Global (Thailand) planned to invest 10 billion baht to launch the Translucia metaverse, the first imaginative virtual world in Thailand, with property developer Magnolia Quality Development Corporation (MQDC). Translucia’s first partner is MQDC, which plans to develop projects in the metaverse. MQDC is the first property developer to use Translucia. It plans to develop a city in this virtual world as it prepares to create a new entity, MQDC Metaverse, responsible for urban development and virtual real estate projects.

Superworld & Tokens.com To Form Strategic Metaverse Partnership

On January 14th, 2022; The virtual world platform SuperWorld has partnered with Metaverse Group, a subsidiary of publicly traded company Tokens.com, who will bolster their metaverse presence by investing up to USD $1 million on SuperWorld’s virtual real estate platform. The partnership diversifies Metaverse Group’s eight figure portfolio, with investment focusing on virtual real estate that encompasses historically and culturally significant locations, along with landmarks and newsworthy sites where creative projects, entertainment and future events will be hosted by Metaverse Group.

Virtual Plot worth $4.3 Million Sold On Metaverse

On December 11th, 2021; the virtual land was acquired by a developer from the video game company Atari. The metaverse archived just to retain breaking themselves. A plot of virtual real estate was just sold for nearly USD 4.3 million in The Sandbox, creating it the most expensive metaverse property sale as of December 8, 2021. In accordance with the Wall Street Journal, the virtual land was attained by the developer from Atari, which is one of the leading video game companies.

Regional Analysis:

On a geographic basis, North America is expected to capture the largest share of the global metaverse real estate market increasing investment in the metaverse real estate and presence of many players in this region. When it comes to innovations and technologies, the U.S. is always at the forefront across the world as it is one of the developed countries. Indeed, lots of major players have a huge presence in this region. The concept of investing millions on the non-existent property may sound ludicrous, but feverish estimates of a virtual reality future are forcing investors to bet giant on metaverse real estate. For example; in December 2021, New York-based Company Republic Realm announced that it had spent a record-breaking of around USD 4.3 million on digital land through The Sandbox, one of numerous “virtual world” websites where people can socialize, play games, and even join concerts. That came hot on the heels of about USD 2.4-million land purchased in November 2020 on a rival platform, Decentraland, by Canadian crypto company Tokens.com.

On Special Requirement Metaverse Real Estate Market Report is also available for below Regions and Country:

North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

Get Full Report@ https://brandessenceresearch.com/technology-and-media/metaverse-real-estate-market

Look at Related Reports:

i-Factor: Live Market intelligence platform

I-Factor is our guaranteed seal to keep our clients ahead of the competition, always. This knowledge platform delivers real-time updates on key economic indicators, competitive landscape, changing demand, trends, customized regional insights, and more. The platform visualizes key data points to help make decision making agile, trustworthy, and holistic. Register for free trail here @ https://brandessenceresearch.com/i-factor/login/userRegister    

Brandessence Market Research & Consulting Pvt Ltd.

Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.

Website: https://brandessenceresearch.com

Blog: Metaverse Companies

Brandessence Market Research & Consulting Pvt ltd

Mr. Vishal Sawant

Email: vishal@brandessenceresearch.com   



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Metaverse Avenue Announces Presale Mint, Public Mint on Jan 27, 2022

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The presale mint on the world’s first NFT-based advertising platform Metaverse Avenue will take place tomorrow and public mint will be on January 27 2022.

A new project called Metaverse Avenue, built on Solana, was created in order to use the capabilities of NFT to promote their products, personal and corporate brands in the digital world.

Metaverse Avenue will allow users to purchase NFT and receive an advertising block on the digital billboards of the project. The owner of the block will be able to put up the photos on these blocks, more specifically, profile photos (PFP) format and websites. If you have a personal brand, NFT, product, or even if you are:

  • A social media figure
  • A content creator.

We can not fail to mention the possibility of earning a Passive income along with advertising on Metaverse Avenue. For instance, if there is no more vacant block on the billboard, you can resell your NFT and benefit from that. You can rent your blocks to other people, where only you and advertiser will decide the cost for renting block; here, Metaverse Avenue will only be the guarantor between you and the advertiser.

According to the official website of the project Metaverse Avenue will issue a total of only 10,000 tokens. 1 NFT will be equal to 1 block on the billboard. The purchase of blocks will be available for pre-sale tomorrow on January 26 at 20:00 UTC. The value of NFT is 0,99 SOL during the pre-sale period and 1,99 SOL is during the public mint January 27 at 20:00 UTC. The token will be supported by Solana compatible wallets, such as Phantom, Sollet, Solflare and Math wallet.

The platform enters a multi-year development phase with exciting new functions and options.

https://discord.com/invite/GZr3A6NNZR
https://twitter.com/MetaverseAvenue
https://instagram.com/metaverse_avenue
https://metaverseavenue.net/





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Daler Mehndi to Become First Indian Singer to Perform in Metaverse: All You Need to Know

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Indians seem to be warming up to the up and coming “metaverse” space, which is a blockchain-supported fully functional virtual universe. As India gears up to ring in its 73rd Republic Day on January 26, celebrated Punjabi singer Daler Mehndi announced a special performance in the metaverse to mark the special occasion. With this, the 54-year-old performer will become the first Indian artist to step into the virtual world to entertain his fans, setting quite a benchmark for other celebrities.

The singer posted a video announcing his upcoming metaverse performance via his official Instagram handle, along with a link for users to click on and claim free passes.

Mehndi will be taking the virtual stage on “partynite.metaverse,” which according to its Instagram bio, allows people to create avatars, play games, and earn NFTs.

As per the official website of partynite.metaverse, it is a “digital parallel universe, powered by blockchain” where people can hang out with friends as customisable avatars, meet new people as well as join parties and events.

The platform also allows people to claim, mint, and sell playable digital collectibles also known as non-fungible tokens (NFTs) in order to make the metaverse more interactive.

Mehndi’s virtual avatar will be performing some of his top songs as part of his metaverse performance which will begin at 12:00pm IST on January 26.

The news has triggered excitement among Daler Mehndi’s fans on Twitter.

Previously, international artists like Travis Scott, Justin Bieber, Marshmello, and Ariana Grande have hosted metaverse concerts, which allowed them to entertain their fans without gatherings during the testing times of COVID-19.

It is, however, clear that the metaverse space is growing bigger with passing days in India.

Music label T-Series also announced its entry into the metaverse in partnership with Hungama TV earlier this week. As part of the deal, Hungama will be creating NFTs from the vast catalogue of new and existing Bollywood content parented by T-Series.

Earlier this month, a couple from India’s Tamil Nadu state announced their Harry Potter-themed wedding reception in the metaverse.

The late father of the bride will host the celebrations in the metaverse, where the guests along with the newly married couple will mark their attendance as digital avatars in February.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.





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