Metaverse, page-59

i wondered why SP spiked this morning - https://unauthorised investment advice/tech/the-metaverse-hype-or-real-and-which-companies-are-making-the-early-moves/

ASX listed Vection Tech leads enterprise metaverse

This week,Vection Tech (ASX:VR1)unveiled its FrameS Metaverse release, as part of its app integration with Webex by Cisco.

The new features will enable organisations to autonomously build immersive metaverses, dynamic 3D worlds where people can participate in meetings from anywhere in the world.

These 3D settings will be embedded to the WebEx by Cisco platform, the leading solution for video conferencing with over 590 million monthly participants.

Vection is one of the first ASX companies to capitalise on this opportunity, using its proven XR (Expanded Reality) capabilities.

“We already had conversations with Cisco way before before the whole Metaverse conversation really took place in the market,” Vection’s COO Gianmarco Orgnoni told*.

“The key feature that we’ve been developing for WebEx is essentially self-contained metaverses where people within an organisation can join and collaborate together in a virtual or digital 3D virtual environment world.”

Orgnoni explained that in online meetings currently, people would use a software like PowerPoint, a very static and outdated way of making a presentation.

“You’re just seeing these little icons of other people on the screen, but this is not engaging and you’re not really collaborating together on the same scenario,” Orgnoni explained.

“So you can think of our FrameS Metaverse as the next generation of PowerPoint, where you can be in the same space and collaborate in a 3D environment with 3D models.”

Orgnoni believes the metaverse is a technology that enterprises simply cannot ignore, citing global consultant Accenture’s recent purchase of 60,000 Oculus Quest headsets for its employees.

“Imagine the cost savings on training and efficiencies that you can create by maintaining just one virtual environment that everybody can join and train in; that’s really mind boggling.”

Orgnoni agrees that social and gaming will be the fastest adopters in the metaverse, which he said will bolster the need for collaboration within and between organisations.

“Because of this, I think the enterprise space is the one that’s going to have the most significant growth within the metaverse out of all of them,” he said.