The Nike Dunk Genesis Cryptokicks sneakers look like a million bucks. Fortunately, you do not have to pay so much for a pair; you can get them for about $2,500, though a rare pair can go up to $80,000. However, you will not be able to wear them in this world. The Cryptokicks exist only in the virtual world, and they can be bought only as non-fungible tokens (NFT).
Nike is among the many companies that believe that metaverse is the future. While Big Tech has been investing heavily in building and expanding the virtual reality space, others—from your grocery seller to Wall Street investments banks—are vying for a share of the future pie. And this has opened up a huge business opportunity for the Indian IT sector. For instance, at the peak of the pandemic, a global telecom giant sought the help of Tata Consultancy Services, India’s largest IT company, to revive its dipping sales. TCS proposed a 3D virtual showroom for the telecom company’s products. Anyone could access it on a smartphone, and, with the help of web-based augmented reality, she could even hold mobile phone models in her hands before choosing one. It worked; the telecom company showed significant improvement in sales.
Infosys and Tech Mahindra, the second and fifth largest IT companies in the country, respectively, and a whole lot of startups are also gearing up to cash in on the opportunity. Research firm Gartner predicts that one in four people will be spending at least an hour a day in the metaverse by 2026. The market is predicted to reach $814 billion by 2028. Last year, nine of every ten global organisations invested in technologies to create virtual environments, and most of them are planning to invest further.
Denne historien er fra June 05, 2022-utgaven av THE WEEK.
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Denne historien er fra June 05, 2022-utgaven av THE WEEK.
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A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
SAHEB LOSES STEAM
Coalition dynamics and poor electoral prospects continue to diminish Ajit Pawar's political stock