LG to bring the metaverse experience into the comfort of their users’ homes via the LG smart TVs after partnering with Oorbit and Pixelynx
In the future, the South Korean tech giant LG Electronics will give its users access to super high fidelity interconnected virtual worlds, virtual concerts, and AI-generated multiplayer games via their television screens.
This is after the tech giant collaborated with Oorbit, a cloud-based tech platform. Pixelynx, a firm that creates integrated music, gaming and Web3 ecosystem, is also part of the team. These three partners are working towards providing LG TV users with a metaverse experience straight into the comfort of their homes.
Bring the LG metaverse experience into your homes
LG Electronics and its partners will allow viewers to integrate and explore the virtual space easily. Users will alternatively explore interconnected virtual walls, concerts and artificial intelligence multiplayer games through their LG TVs.
“Our proprietary technology is the connective tissue that links virtual worlds together and makes it easy for developers and brands to bring their experiences into the metaverse. Scaling our technology for millions of LG TV customers is the next step in making the metaverse accessible for all,” Co-founder and chief technology officer of Oorbit, Pooya Koosha, retaliated.
In early 2020, March to be precise, LG Electronics upgraded its development goals to provide crypto and blockchain-based software. According to reports, the electronics firm had already included two crypto-based objectives in its annual general meeting. These include; the development and selling of blockchain-based software and the sale and brokerage of cryptocurrency.
A 2022 metaverse overview
Despite the regression in adopting the metaverse in 2022, many investors and developers remain optimistic about the revolutionary technology. The past year saw several and even the least expected funds and institutions getting into partnerships focusing on delving into the space.
One of the organizations that delved even deeper into the metaverse ecosystem is Meta, formerly known as Facebook. The company rebranded in October 2021 and stayed committed to its advancements of embracing the web3 ecosystem. Since then, Meta recorded an accumulated loss of $ 9.44 billion in 2022 in its research and development department. However, despite the huge loss, CEO Mark Zuckerberg and his team remain enthusiastic about the whole metaverse and web3 space.
Another tech company that has invested in the space is Microsoft. The tech giant announced the acquisition of Activation Blizzard, a $69 billion gaming company.
Microsoft also partnered with Meta to boost the Microsoft applications and features into the metaverse. This would be achieved through the use of Quest VR headsets.
Sony, another tech giant, launched a Sport Metaverse experience in November 2022. The electronics company acquired Beyond Sports, a firm specializing in using real-world data to offer 3D animation.
Financial institutions have also had their share of the pie. The major financial institution, JP Morgan, stood out as the first major bank to explore the virtual space. The bank launched a virtual lounge in Decentraland and tagged the firm as a $1 trillion market prospect.
Metaverse has experienced major advancements over the past year, and we are yet to see more disruptions within the space. Law enforcement agencies such as INTERPOL coming in with Global police in the virtual space shows more regulations coming into place. A nation like South Korea is already at the forefront of ensuring better and more effective regulations within the ecosystem.
