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June 6, 2023

VR Industry Buzz Surges Before Apple's Launch

Startups in VR space anticipate Apple's game-changing headset, set to debut at WWDC, as reported by Financial Times

As Apple's highly awaited Worldwide Developers Conference approaches, the virtual reality (VR) industry is filled with excitement and anticipation. Startups operating in the VR space are eagerly banking on Apple's rumored mixed-reality headset, poised to be unveiled soon, to reignite a surge of investment opportunities. Priced at around $3,000 and seamlessly merging augmented reality (AR) with virtual reality, this cutting-edge headset has captivated the imaginations of industry insiders, fueling an electric atmosphere of excitement and high hopes.

According to the Financial Times, Tipatat Chennavasin, co-founder of the Venture Reality Fund, expects the Apple headset to create a new App Store ecosystem that will attract millions of developers and billions of users, generating significant revenue. Startups have long been including the promise of the Apple device in their pitch decks, eagerly awaiting the moment when Apple enters the VR space. Chennavasin's excitement is shared by many, with sentiment reaching a "fever pitch" ahead of the possible headset launch.

While the recent focus has been on artificial intelligence tools like OpenAI's ChatGPT, the report acknowledges that the hype surrounding AR/VR technology has resurged, recalling Facebook's rebranding to Meta in 2021 as it invested heavily in the metaverse. Despite years of anticipation and extensive research and development, AR and VR goggles have yet to gain widespread acceptance as consumer products. This raises questions about how people truly want to experience the metaverse and the impact of Apple's plans on consumer perceptions.

In the world of VR and AR, hopes are high that Apple's upcoming reveal will transform the industry's landscape. While the term "metaverse" may have lost its appeal when seeking funding, industry experts believe that Apple's entry into the space could raise the tide for all players involved. As the mixed-reality headset takes center stage, the VR industry holds its breath, eagerly awaiting the potential funding opportunities and shifting perceptions that Apple's innovation might bring.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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