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Google and Magic Leap Forge partnership for next-generation Metaverse

The collaboration aims to develop advanced augmented reality (AR) and virtual reality (VR) technologies that will be the foundation of future Metaverse applications.

Date: 2024-06-03 Author: Marek Stiller
Google and Magic Leap Forge partnership for next-generation Metaverse

Magic Leap has announced a technology partnership with Google to develop new augmented reality (XR) technologies.

The collaboration combines Magic Leap’s expertise in optics with Google’s infrastructure, which could signal increased competition from Apple and Meta in the area of hardware and Metaverse experiences, the company said in an announcement.

While Google has recently reduced the number of augmented reality teams, and Magic Leap has faced setbacks with one of its major projects, the partnership could have positive implications for the entire Metaverse.

The collaboration aims to provide developers and customers with immersive experiences by combining the physical world with valuable and contextually relevant XR solutions.

“This partnership accelerates the transformative power of augmented reality by combining our extensive optics capabilities with Google’s technologies to continue to deliver immersive experiences to the developer ecosystem and customers,” – Julie Larson-Green, CTO of Magic Leap , said.

“We look forward to expanding the potential of XR – connecting the physical world with valuable, contextually relevant solutions.”

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New AR/XR headset may be coming to Horizon store

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While the press release did not detail any specific products or services resulting from the partnership, it raises speculation about the development of a new AR/XR headset that could challenge the market dominance of Meta and Apple.

The exact benefits to Google from this partnership, however, remain unclear.

While the company has experience in developing custom hardware in a variety of product categories, its previous AR/XR efforts, such as Google Glass, have not met with significant success.

Technology journalist Sean Hollister suggests that Google may be interested in a patent or methodology held by Magic Leap.

Alternatively, Google may be trying to avoid falling behind its major competitors in the AR/XR field, or to avoid having to create a new AR/XR unit after previous layoffs.

The partnership between Magic Leap and Google underscores the growing importance of the meta-world and the race to develop immersive technologies that bridge the digital and physical worlds.

With companies like Apple and Meta investing heavily in Metaverse initiatives , the collaboration between Magic Leap and Google introduces another player, potentially driving further progress in the XR space.

Metaverse continues to gain popularity

The Metaverse concept has gained a lot of attention recently, leading many to consider investment prospects. Metaverse refers to a virtual universe in which users can interact with a computer-generated environment and other participants in real time.

This includes a wide range of technologies, including virtual reality (VR), augmented reality (AR), blockchain and artificial intelligence (AI).

The global metaverse market is experiencing rapid growth.

In 2022, the market was valued at around $63.83 billion. However, the market is expected to grow at an impressive compound annual growth rate (CAGR) of 44.4% between 2023 and 2030, potentially reaching a staggering $1.6 trillion by 2030.

Companies such as Meta (formerly Facebook), Microsoft, Tencent and Nvidia are investing heavily in the meta-world to improve their platforms and create new user experiences. For example, Meta has invested $50 million in global meta-world research and development, and Epic Games has raised $1 billion, including a $200 million investment from Sony.

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Marek Stiller
Marek Stiller
Founder of the "Cryptocurrency for Beginners" channel on YouTube. He collaborates with Łukasz to form the Arena Trading group, while at the same time being passionate about blockchain technology. His knowledge and experience in the cryptocurrency industry help beginner investors better understand this dynamic market.
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