A.I. & METAVERSE FASHION NEWS OF THE WEEK 06.25.2023
LOUIS VUITTON: THE LUXURY FASHION GIANT INNOVATING NFTS
When the prestigious Louis Vuitton launched its first NFT game in 2021, the world was taken aback; little did they know this was just the beginning. Recently, Louis Vuitton also made headlines with its ultra-limited NFT Treasure Trunk drop, which grants access to its exclusive community – and it might be worth the $39,000 price.
After all, this is the second most popular luxury brand of the year and one of the most influential fashion companies of all time. It loves innovation while also staying true to its roots and core concept dating back to 1854.
In fact, this name had already entered the NFT space in August 2021 as one of the first physical luxury fashion NFTs to debut the market. By June 6th, 2023, Louis Vuitton had sold over $41,700 worth of NFTs.
Its latest collection, the VIA Treasure Trunk NFTs, brings the concept of exclusivity to a new level while featuring the same design as its original 1858 trunks.
But how does the luxury fashion giant stay relevant in the ever-changing world of NFTs?
Let’s go back to the roots to find out.
Louis Vuitton, a Fashion Icon
In 2023, the words ‘Louis Vuitton’ are almost synonymous with ‘luxury fashion.’ Founded in 1854, the French brand’s empire now has a $500 billion market value.
From shoes to perfumes, jewelry, and accessories, the company expanded its success beyond clothing. Their most expensive item, the Steiff Louis Vuitton Teddy Bear, costs more than $2.1 million – a record price for a fashion brand.
One of the main reasons Louis Vuitton stayed relevant for over 150 years is its desire to innovate.
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GIVENCHY CELEBRATES PRIDE MONTH WITH METAVERSE EXHIBITION
GIVENCHY Beauty is celebrating Pride Month by unveiling an exhibition in the metaverse called the “Givenchy Beauty Pride Gallery.” Hosted on the metaverse platform Spatial and designed by bem.builders — a bridge builder between brands and the metaverse — the project granted three digital creators complete freedom to explore the theme of inclusivity and celebration of the LGBTQIA+ community while adhering to the luxury house’s codes.
The Givenchy Beauty Pride Gallery presents the works of artists Vanille Verloës, Sam J, and Edgar Fabian Frias. The exhibit space’s design reflects Givenchy Parfums’ signature elements, including the purple and blue hues of its Prisme Libre powder. The realm consists of several floating islands, each showcasing artwork and connected by black ramps for avatars to traverse. Visitors can find various spots to sit, take photos, record videos, and share their experiences with friends. Users can complete a quest that consists of searching for hidden collectibles scattered throughout the exhibition to win a Givenchy beauty badge.
As the exhibition progresses, colors resembling rainbows cascade from the sky, culminating in a spectacular virtual fireworks display. The exhibit will be open to the public until July 6, with the artworks also featured on Givenchy Beauty’s Instagram and TikTok platforms.
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LUXURY FASHION GAME DREST CONTINUES MOMENTUM SECURING £15M FUNDING
DREST, the fashion and beauty metaverse game that works in partnership with luxury brands, has raised £15M of funding to continue developing its new product, DREST 2.0.
Since its launch in 2019, DREST has recorded 250% year-on-year user growth and raised £30 million. It currently works directly with over 260 brands including BREITLING, Cartier, Christian Louboutin, Fendi, Gucci, Prada Group and Valentino
The game blends the worlds of luxury fashion, beauty and lifestyle all in the realm of the metaverse, offering players the chance to showcase their style on hyper-realistic avatars. The game features a digital fashion assortment provided by Farfetch as well as brands directly, allowing players to easily discover and shop the latest collections.
What's more, it combines gamification with brand marketing and partnership opportunities, enabling its stakeholders to access and interact with new and highly-engaged audiences.
The investment round was agreed with Co-Founder and Co-Chair Graham Edwards' family office along with fellow Founder and Co-Chair Lucy Yeomans, previously Global Content Director for NET-A-PORTER and Editor-in-Chief of Harper’s Bazaar UK.
Lisa Bridgett, CEO at DREST, commented: "We are thrilled to have secured investment to help us scale DREST, especially in such a tough market. This is testament to the strength of our product delivery and pipeline of ideas.
"We are now ready to take the business to the next level, and offer a new one-of-a-kind experience to our users while maintaining the core elements of the game. There is an undeniable interest in gaming from the luxury fashion and lifestyle industries and we are very well-positioned to cater to this increasing demand. We very much look forward to the next chapter."
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LVMH STRIKES DEALS WITH EPIC GAMES AND APPLE FOR CREATIVE TRANSFORMATION
💎 Why Did LVMH Partner With Digital Leaders Epic Games?
LVMH and Epic Games officially partnered to create new immersive experiences, the group revealed at the Viva Technology event. In essence, the luxury fashion giant aims to expand the Web3 empire for each LVMH Maison using Epic Games’ technologies.
After all, Epic Games is a force to be reckoned with in the video game industry. Fortnite, Unreal, and Infinity Blade are some of the best games this company created. These products are all backed by Epic Games’s Unreal Engine, Twinmotion, MetaHuman, and Reality Capture.
Each of these 3D creation tools helps users to create immersive digital experiences – and that’s exactly what LVMH is planning next.
🦄 What Does LVMH Have in Store for Its Fans?
According to LVMH Group Managing Director Toni Belloni, “We have always been committed to innovations with the potential to bring our customers new experiences. Interactive games, which have developed into a full-fledged cultural phenomenon, are a perfect example. The partnership with Epic Games will accelerate our expertise in 3D tools and ecosystems, from the creation of new collections to ad campaigns and to our Maisons’ websites.”
Besides Epic Games, LVMH also revealed their upcoming metaverse project: ‘The Journey.’ Accordingly, users will be able to enter the metaverse, choose a portal, and enter a new virtual world with exclusive products and experiences.
This news confirms the luxury fashion group’s desire to prioritize Web3 and metaverse development, and for a good reason!
🪩 Metaverse Fashion: How Important Is This Industry in the Web3 Space?
Although Web3 fashion had a slower start than other niches, it has been growing at lightspeed for the past year. Today, metaverse users are more willing than ever to invest in their virtual appearance. In fact, that’s the main reason why luxury fashion pioneers like Dolce & Gabbana caught on so quickly!
Soon enough, tens of high-end brands joined the metaverse too. From Burberry to Tiffany & Co., Balmain, and Jimmy Choo, fashion leaders launched their own virtual products successfully.
Considering how the fashion industry thrived even during the bear market, projects such as the LVMH digital collaboration with Epic Games are just the beginning.
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"WE ARE VERY EXCITED ABOUT THE WORLD'S FIRST FASHION AI HACKATHON HAPPENING AT BLOCKDOWN FESTIVAL"
Erhan Korhaliller, the founder of BlockDown Festival, reveals how web3 and creative arts industries will come together next month Portugal.
👾 BlockDown Festival isn’t your typical web3 conference, as it focuses on bringing together the creative arts across web3 with a unique mix of world-class content, arts, fashion, entertainment, music and unique networking opportunities. Can you tell us more about what’s in store with the programming this year?
🦄 BlockDown Festival focuses on the intersection of web3 and culture, the crossover of the creative industries such as music, sports, arts, fashion, gaming and entertainment.
For Fashion, we have partnered up with the Metaverse Fashion Council for our fashion-related content. First up, on July 11th, we will have a metaverse-inspired fashion show on the conference’s main stage, catwalk included!
In addition, something we are very excited about is the world’s first fashion AI hackathon happening at BlockDown Festival this year. The Metaverse Fashion Council has just released Style AI, a first-of-its-kind fashion AI that will create fashion garments based on your prompts. In an America’s got talent style competition, competitors will take the stage to battle it out who can make the most fashionable clothing and judge by expert fashion judges, which will be very exciting.
👾 There will be a metaverse fashion show taking place IRL and online, featuring awe-inspiring designs from top NFT designers. Can you tell us more about the event, and how you decided to choose which designers to collaborate with?
🦄 Yes, we are looking forward to this. As mentioned before, this is in collaboration with the Metaverse Fashion Council, advising us on the best designers and fashion houses to partner with for the Metaverse fashion show. The fashion show will be split into four segments, with a fashion-related speech and panels in between each performance.
👾 BlockDown Festival will be hosting Europe's very first Bored Ape Yacht party! Can you tell us more about this collaboration and how you were able to join forces?
🦄 They will be hosting two parties, the Bored Ape Yacht Party is very exclusive, naturally, as it is on a yacht, the numbers are limited, and those on that boat will also be treated to trips through the world-famous Benagil Cave and be with a stop at a private beach for a Bored Ape BBQ!
On July 12th, on the festival’s main stage, DJ Ape will bring the Bored Ape experience to the whole festival for a 2-hour DJ set featuring unique tracks and merchandise. I can’t wait to see it!
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THE FABRICANT x HIGHSNOBIETY: WHEN DOES THE NEW COLLECTION DROP?
The leading Web3 luxury fashion brand The Fabricant returns to the Metaverse with a new drop on June 20th. The new collection celebrates Highsnobiety’s long-awaited physical installment in Paris, Not in Paris 5.
Of course, the Web3 launch carries the same name too. There are three types of wearable Varsity Jackets available, and a total of 300 items are already up for sale.
In terms of design, each item showcases Highsnobiety’s streetwear style with a touch of futuristic luxury from The Fabricant. Collectors can buy a limited-edition piece via The Fabricant platform. The price ranges between 24 to 33 FLOW (the native currency of the Flow blockchain).
Each of the three available wearables comes with its own story too:
🤖 Eiffel Tower Pursuit: this is an exact remake of the iconic Varsity Jacket, surrounded by floating Eiffel Towers;
⛓ Echoes of Paris: This option features abstract patches with visual effects in the metaverse;
🪩 Parisian Mirage: From reflecting the surroundings to a shiny surface, this jacket definitely steals the show.
After making the purchase, holders can show off their new wearables using AR anytime. All in all, this innovative concept comes in line with the 2023 Paris Fashion Week – and The Fabricant x Highsnobiety is just one example of a Web3 integration here!
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ROBLOX OPENS IMMERSIVE AD PARTNER PROGRAMME AT CANNES LIONS
The massive Metaverse platform announced its strategic programme to grow immersive adverts on the Metaverse.
Roblox, a premier metaverse platform specialising in gaming and events, announced its new Immersive Ad Partner Programme on Wednesday at the Cannes Lions International Festival of Creativity event.
The Programme aims to boost innovation and build a global ecosystem for immersive advertisements.
According to the San Mateo-based firm, its new partnership will also engage global communities by rallying platform advocates across its developer studio as well as global agencies, brands, and vendors.
What’s Included in the Immersive Ad Programme?
Roblox’s network of entrants on the partner network will tackle four targets for global businesses. These involve:
Platform Education
Research and Measurement
Product and Content Innovation
Immersive Ads
Furthermore, the Programme will boost companies leveraging the platform’s immersive tools to increase their presence. This will deliver greater value for Roblox users and establish brands across the Metaverse.
Manuel Bronstein, Chief Product Officer at Roblox, said the programme was another step closer to its “long-term vision of building an economy.” This would empower people to “create, sell and earn on our platform. Expanding Roblox’s partner community would also “play a key role in enabling this future,” he added.
Additionally, Ashley mccollum Ashley McCollum, Head of Immersive Media Solutions, Roblox, explained that her company “strives to innovation across the board” and that “advertising is no exception.”
🦄 Roblox Teams Up for B3auty and Fashion
The news comes after Roblox partnered with metaverse giants Decentraland and Spatial for the mid-June Metaverse Beauty Week (MBW 2023) event. The online and real-time 3D (RT3D) event showcased immersive fashion and beauty from across the globe. Companies such as ULTA, FLANNELS, LUSH, Lottie London, and more gathered with global audiences for a five-day showcase of products, parties, classes, and games.
Attendees also bought, sold, and traded non-fungible tokens (NFTs), digital assets, wearables, and other digital twins at the MBW 2023.
The House of Blueberry also tapped Roblox and Rebel Girls for a bespoke, exclusive online fashion experience in the Metaverse.
Roblox facilitated exclusive digital fashion drops, immersive games, digital content, and virtual launch parties. It will take place two days before the Rebel Girls Level Up experience on the 27 this month.
The partnership aims to promote female content creators, gamers, and XR fans, leveraging the Roblox metaverse platform.
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SENSORIUM ANNOUNCES FIRST-EVER NFT DROP: AVATARS COLLECTION ON POLYGON
Up-and-coming Web3 developer, Sensorium, has announced its long-awaited NFT collection with the forthcoming drop of the SENSO DAPP NFT collection. 10,000 AI-powered avatars will be up for grabs as part of a multi-stage drop event set to kickoff in July.
Sensorium is also revealing that holders of its in-platform token, SENSO, will be having the opportunity of claiming avatars for free, adding another layer of anticipation for members of its growing SENSO community.
In an announcement, Sensorium has detailed how its first-ever NFT will unfold, emphasizing the benefits of holding a SENSO DAPP avatar for potential buyers as a key gateway into the platform’s growing virtual spaces, collectively known as Sensorium Lab.
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The 10,000 NFT collection will be minted on Polygon Labs blockchain and will see a yet-to-be disclosed number of avatars being made available in the first stage.
INTRODUCING EXPERIENCES FOR PEOPLE 17 AND OLDER
Roblox by Manuel Bronstein, Chief Product Officer
Our goal has always been to build an immersive platform for communication and connection with safety and civility at its foundation. Roblox is a platform for all ages where no matter how old people are, they can connect with friends and discover a wide range of relevant, engaging, and age-appropriate experiences.
The fastest-growing age group on Roblox is 17-to-24-year-olds and in 2022, 38% of our daily active users were 17 and over. As a natural evolution, we’re now allowing creators to make content specifically for this audience. Only those who have verified that they’re at least 17 will be able to create or consume these experiences.
Age Appropriate Access
Now, creators will be able to offer experiences for those 17 and older that feature more mature themes and storylines like in TV shows or stand-up comedy. These experiences may contain more violence, blood, or crude humor.
Safety
Experiences for people who are 17 and older need to meet our standards for safety and civility. We wouldn’t do it any other way. This requires comprehensive safety and moderation tools, including:
Age Verification
As noted above, you can only create or consume these experiences if you’re verified as 17 or older. This requires uploading a selfie and a photo of your government-issued ID, an age verification method that goes beyond what many other platforms currently use. With this approach, we’re providing greater confidence in people’s age and identity. In the future, we may add new age verification methods.
Parental Controls and Guidance
People have numerous ways to choose which content is suitable for their family. For example, our Parental Controls provide the ability to restrict children’s access to certain experiences. And we’re updating our Parent & Caregiver Guide to Roblox to provide safety tips for families.
Moderation and Community Standards
Everyone on Roblox is required to adhere to our Community Standards and policies, and we’re updating them to account for content appropriate for people 17 and over. In addition, people can report and block individuals and experiences that go against our policies.
Empowering Creators’ Expression and Monetization
Now creators have a way to tap into our fastest-growing audience. We hope to inspire them to build aged-up experiences by highlighting them in our recommendation tools solely to people who are at least 17. That means creators will have new opportunities for increased engagement and potential earnings.
What’s Next
Starting today, eligible creators can begin making experiences for people 17 and over. We want those experiences to be safe and civil, high-quality, engaging, and to fully leverage the potential of aged-up content.
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NVIDIA CEO: CREATORS WILL BE "SUPERCHARGED" BY GENERATIVE AI
NVIDIA’s Jensen Huang discussed AI-enhanced creativity in a conversation with Mark Read, CEO of WPP, at the Cannes Lions International Festival of Creativity.
Generative AI will “supercharge” creators across industries and content types, NVIDIA founder and CEO Jensen Huang said today at the Cannes Lions Festival, on the French Riviera.
“For the very first time, the creative process can be amplified in content generation, and the content generation could be in any modality — it could be be text, images, 3D, videos,” Huang said in a conversation with Mark Read, CEO of WPP — the world’s largest marketing and communications services company.
At the event attended by thousands of creators, marketers and brand execs from around the world, Huang outlined the impact of AI on the $700 billion digital advertising industry. He also touched on the ways AI can enhance creators’ abilities, as well as the importance of responsible AI development.
“You can do content generation at scale, but infinite content doesn’t imply infinite creativity,” he said. “Through our thoughts, we have to direct this AI to generate content that has to be aligned to your values and your brand tone.”
The discussion followed Huang’s recent keynote at COMPUTEX, where NVIDIA and WPP announced a collaboration to develop a content engine powered by generative AI and the NVIDIA Omniverse platform for building and operating metaverse applications.
Driving Forces of the Generative AI Era
NVIDIA has been pushing the boundaries of graphics technology for 30 years and been at the forefront of the AI revolution for a decade. This combination of expertise in graphics and AI uniquely positions the company to enable the new era of generative AI applications.
Huang said that “the biggest moment of modern AI” can be traced back to an academic contest in 2012, when a team of University of Toronto researchers led by Alex Krizhevsky showed that NVIDIA GPUs could train an AI model that recognized objects better than any computer vision algorithm that came before it.
Since then, developers have taught neural networks to recognize images, videos, speech, protein structures, physics and more.
“You could learn the language of almost anything,” Huang said. “Once you learn the language, you can apply the language — and the application of language is generation.”
Generative AI models can create text, pixels, 3D objects and realistic motion, giving professionals superpowers to more quickly bring their ideas to life. Like a creative director working with a team of artists, users can direct AI models with prompts, and fine-tune the output to align with their vision.
“You have to give the machine feedback like the best creative director,” Read said.
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THE COMPLETE PLAYBOOK FOR GENERATIVE AI IN FASHION
Though generative AI grabbed attention with the deluge of user-generated memes it unleashed online, like a video reimagining the Harry Potter movies in the style of BALENCIAGA, its greatest impact could be on businesses. Tech giants such as Microsoft and Google are racing to incorporate it into their core products, while industries from healthcare to finance are looking for ways to use it to lift labour productivity and a wave of start-ups are building enterprise applications. Goldman Sachs analysts estimate that, once generative AI is widely adopted, it could boost US productivity by 1.5 percentage points per year for a decade, ultimately increasing S&P 500 profits 30 percent or more over that period.
Glossary
🧨 Artificial intelligence (AI): Technology such as a computer program that mimics the human brain’s ability to perform tasks and learn and improve over time.
🧸 Deep learning: A form of neural network involving more than three node layers. These algorithms are more effective at processing and understanding unstructured data.
🏺 Diffusion model: A type of generative model trained by adding “noise” to a set of training data and then reversing the process to reconstruct the data. It can use random noise to create new data by repeating the “denoising” process.
🐬 Generative Adversarial Network (GAN): A type of generative model capable of producing realistic imagery by employing two neural networks, a generator and a discriminator. The generator creates new content and the discriminator tries to distinguish if it’s real or fake. As each improves, the output becomes increasingly more difficult to identify as false.
⚓️ Generative AI: Deep learning algorithms that with sufficient examples of something can recognise the underlying patterns and structures in the data and produce new iterations, including text, imagery, video and more.
🔮 Machine learning (ML): A branch of AI that involves algorithms which are able to identify patterns in data and learn from them without being explicitly programmed.
🗿 Neural network: A form of ML that uses a set of interconnected algorithms structured in various node layers imitating the workings of the human brain.
🎈 Transformer: A neural network that uses sequences of data, like words in a sentence, to identify relationships between data points that may be far apart from one another, allowing it to understand context and predict new sequences. Many language models like OpenAI’s GPT models (GPT stands for “generative pre-trained transformer”) are transformers trained on giant amounts of data.
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WHATSAPP TAKES A STEP INTO THE METAVERSE WITH META QUEST INTEGRATION
WhatsApp gave us a glimpse of its metaverse plans when it introduced Avatars last year. Now, in its latest beta version, WhatsApp takes it further by using metaverse hardware with support through linking with the Meta Quest.
In an upcoming WhatsApp update, users may be able to officially connect their accounts to Meta Quest VR headsets. WABetaInfo discovered this feature while exploring the new beta 2.23.13.6 release. Although the Meta Quest-linked device feature is still in development and no official announcements have been made, a screenshot reveals the progress made so far. The current beta version doesn’t allow testers to try out the link or set it up, it provides a preview of the setup process.
Some fans have already tried to install WhatsApp on their VR devices, despite the lack of official support. However, this upcoming feature seems as if it will be able to connect an existing WhatsApp account to a Meta Quest device. WhatsApp has been actively exploring linked devices, such as the Android beta 2.23.12.12. One of the devices explored included using iPads as linked devices, growing the platform’s reach even further.
WhatsApp’s journey has only just begun. Significantly, the potential collaboration with Meta Quest shows Meta’s ambitions in the metaverse. Soon, hopefully, users can look forward to the new experience this technology has the potential of bringing.
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"DUBAI AI & WEB 3.0 CAMPUS" HAS THE GOAL OF ATTRACTING OVER 500 COMPANIES BY 2028
"Under the directives of First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the Dubai International Financial Centre (DIFC) His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, DIFC, the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, today announced it will build the ‘Dubai AI & Web 3.0 Campus’,the largest cluster of Artificial Intelligence and tech companies in the MENA region.
With ambitious plans to expand into a dedicated campus spanning over 100,000 sq. ft. in the next five years, the Campus located at the DIFC Innovation One premises will focus on the use of AI and Web 3.0 in the financial services industry. The ‘Dubai AI & Web 3.0 Campus’ will be home to visionary entrepreneurs, disruptors and engineers who possess a deep passion for emerging technologies. The Campus will provide world-class physical and digital infrastructure including R&D facilities, accelerator programmes and collaborative workspaces, to attract, build and scale AI companies.
His Excellency Essa Kazim, Governor of DIFC, said: “DIFC’s 2030 strategy is central to shaping the future of finance and innovation. AI is expected to inject AED103 billion into the UAE economy by 2035 and contribute 14% to the country’s GDP by the end of the decade. The Dubai AI & Web 3.0 Campus will significantly contribute to this growth as a global nexus for R&D, investment, and innovation by attracting over $300 million in collective funds, 500+ global AI and Web 3.0 start-ups, and create 3000+ jobs by 2028.”
DIFC’s 2030 strategy is centred around driving the future of finance through cutting-edge technology, innovation, and partnerships. DIFC’s Innovation Hub offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulations, innovative accelerator programmes and funding for growth-stage start-ups. The fastest growing sector in DIFC with 686 associated firms, FinTech and Innovation saw funds of over $615 million raised in the Centre during 2022.
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MIDJOURNEY 5.2 AND STABLE DIFFUSION SDXL 0.9 UPDATES FOR CREATIVE TEXT-TO-IMAGE GENERATION
Today, both of the major text-to-image generators released significant updates. Improved accuracy in generating realistic images from textual descriptions, as well as new features that allow users to control the style and composition of the generated images.
New Features in Midjourney 5.2
In addition to StabilityAI’s updates, Midjourney has also introduced exciting features with the release of Midjourney 5.2. One notable addition is the Zoom Out feature, which resembles Adobe’s Generative Fill for Photoshop. However, it is important to note that Midjourney’s Zoom Out feature does not involve masks, and the outcome largely depends on the extent of the “do Out” parameter.
Midjourney 5.2 brings a range of new capabilities that enhance the user experience. Notably, the release of Stable Diffusion XL 0.9 overshadowed the strong update in Midjourney, which many users initially overlooked.
Some of the key features and improvements in Midjourney 5.2:
Outpainting: Users can now explore the Outpainting feature with options such as 1.5, 2, and custom settings. When used iteratively, this feature yields impressive results.
Customizable variations: The strength of variations in Midjourney is now customizable. Users can effortlessly switch between weak and strong variations by selecting two buttons, offering greater flexibility in the creative process.
1:1 image transformation: Midjourney now allows users to transform any image into a square with a 1:1 aspect ratio, enabling seamless integration in various contexts.
Also, Midjourney 5.2 has introduced a new feature called the prompt parser, making it even easier to generate impressive images. With the command “/shorten [your prompt],” users can now identify important words and eliminate unnecessary ones, optimizing their prompts for the best results.
New Features in Stable Diffusion SDXL 0.9
StabilityAI has made improvements with the release of their latest model, Stable Diffusion SDXL 0.9. They promise enhanced perception of prompts and improved image detail, allowing users to create more captivating visuals. Even better, you can already try out the new model for free on ClipDrop.
The Stable Diffusion SDXL 0.9 model has garnered attention since its publication by StabilityAI. Though the official confirmation of the release is available, but the link has yet to be provided. In its basic version, the SDXL 0.9 model boasts an impressive 3.5 Bln parameters. Additionally, there are plans for another ensemble of two models, totaling a remarkable 6.6 Bln parameters.
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THE RISE OF CRYPTO GIANTS: 4 CRYPTOCURRENCY COMPANIES MAKE TIME 100 LIST
Crypto takes the lead in the highly anticipated annual compilation of 📬 The TIME100 Most Influential Companies, which highlights the foremost innovators and disruptors in the global technology arena.
These companies, known for their transformative influence, represent the cutting edge of advancement, challenging limits and molding the future. Among this esteemed roster, the recognition of cryptocurrency stands out prominently, as this year’s edition features four distinguished cryptocurrency companies, along with numerous businesses that embrace the asset class.
By incorporating these digital pioneers, TIME100 acknowledges the profound influence and potential of the crypto industry in reshaping traditional financial systems and revolutionizing various sectors worldwide.
🎈 TIME100 Salutes Chainalysis, Recognized For Its Anti-Crime Efforts
In the 2023 TIME100 ranking, Chainalysis, an on-chain tracking firm, secured its place among the most influential companies. The company’s inclusion was attributed to its pivotal role in combatting and preventing the misuse of digital currencies in criminal activities and money laundering.
🏺 Circle: Harnessing Cryptocurrencies For Humanitarian Programs
Among the prestigious honorees on the TIME100 list, Circle Internet Financial., a prominent fintech company, made a notable impact with its humanitarian endeavors. The company’s creation of the $30 billion stablecoin, USDC, played a crucial role in facilitating programs endorsed by the UN High Commissioner for Refugees.
🔗 Polygon Labs: Propelling Blockchain Into The Mainstream
Polygon Labs, the driving force behind Polygon (MATIC), the largest EVM blockchain, secured its place on the TIME100 list as a symbol of pushing blockchain technology into the mainstream.
🔥 Mercado Libre: Latin American Powerhouse Embraces Crypto
In a groundbreaking move that captured the attention of financial media, Mercado Libre, the largest fintech company in Latin America, launched its own cryptocurrency on the Ethereum blockchain.
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HOW THE METAVERSE IS ADAPTING TO US NOT BEING THERE
The metaverse is changing. Or is it? Before it had this fancy buzzword that was swallowed up by bigcorp, and since the pandemic, the metaverse hasn’t really evolved into the wunderkind we dreamed of when we were wearing sweatpants to zoom calls. The initial excitement around the metaverse was driven by the allure of immersive experiences, limitless possibilities, enhanced social connections along with the economic opportunities, and the technological advancements supporting it. These factors contributed to a wave of enthusiasm and anticipation for the metaverse’s potential impact on users‘ lives but have our high expectations contributed to the ultimate decline in numbers, and dare I say it, interest in this brave new world? Something is bubbling under the surface of the metaverse, and I think I might have a theory as to what it is and why it has happened now.
The concept of the metaverse promised a highly immersive and interactive virtual world where users could escape reality and engage in rich, multi-dimensional experiences. The idea of being able to explore virtual environments, socialize with others, and participate in diverse activities captured people’s imaginations. It was perceived as a realm of infinite possibilities and envisioned as a space where users could create, customize, and shape their virtual identities and environments according to their desires. From social connections, transcending physical boundaries to interactions with people from all over the world, forming communities and engaging in shared experiences—this promise of forging meaningful connections and expanding social networks in a digital realm appealed to many and for a while it delivered.
We know that the metaverse presented enticing economic prospects: a day didn’t go by (and still doesn’t) where we were bombarded with opportunities to buy really precious and valuable NFTs (Non-Fungible Tokens). The metaverse was envisioned as a platform for entrepreneurship, commerce, and virtual economies—and I think that this was my first eureka moment. At a time when stores are closed, no one is doing business and, well, businesses were foreclosing; the great pivot came and the metaverse paid in dividends. Users could engage in virtual businesses, trade virtual goods and services, and potentially generate real-world income. The prospect of financial gain and novel economic models excited entrepreneurs and investors. Using advancements in technologies predominantly from the games industry; entertainment and industry sectors really gained from virtual reality (VR), augmented reality (AR), and blockchain.
Founder of PhygitalTwin, bridging digital and physical fashion, sustainably and profitably. Founder of Phygen, an AI engine automating design to production ready pattern. Keynote speaker, writer, thought leader.
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