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September 28, 2024
Issue No. 122
CURATOR:
Welcome to this week's AtherXplorer, covering the latest in gaming, blockchain, and everything in between.
This week’s top picks include:
Artificial Intelligence
OpenAI Transitioning to a For-Profit Company as CTO Steps Down
OpenAI is reportedly closing in on a $6.5 billion funding round, which could be finalized as soon as next week. This funding round is part of the company's transition from a nonprofit organization to a for-profit benefit corporation, a move that is expected to make OpenAI more attractive to outside investors. As part of this transition, CEO Sam Altman is reportedly set to receive a 7% equity stake in the company.
However, this transition is not without its challenges. OpenAI's CTO, Mira Murati, has announced that she is leaving the company, citing a desire to create time and space for her exploration. Two other company leaders, Bob McGrew and Barret Zoph, are also departing. Altman has expressed his gratitude for their contributions and has announced a new leadership structure, with Mark taking over as SVP of Research and Jakub as Chief Scientist.
The company's transition to a for-profit model has raised concerns about its ability to prioritize AI safety and accountability. OpenAI's nonprofit board will relinquish control but retain a minority stake in the new for-profit entity. The company's rapid growth and demanding work culture have also been cited as challenges, with Altman acknowledging that leadership changes are a natural part of companies that grow quickly.
Meta AI Makes Strides with Llama 3.2 and AI-generated Content
Meta has made significant advancements in its AI technology, releasing its first open-source model capable of processing images and text, Llama 3.2. This model allows developers to create more advanced AI applications, such as augmented reality apps and visual search engines. The model includes two vision and two lightweight text-only models, making it accessible for mobile devices.
In addition to the release of Llama 3.2, Meta has announced that it will be testing a new feature that creates AI-generated content for users, including images that incorporate their faces. This "Imagined for You" feature will be rolled out on Facebook and Instagram, allowing users to share AI-generated images and generate new pictures in real-time.
Meta AI has also gained multimodal capabilities, enabling it to understand and edit photos using AI technology. Users can now share photos in chats and ask Meta AI questions about the images, such as identifying objects or providing information about the photo. Additionally, Meta AI can edit images using AI, allowing users to make changes to the photo, such as adding or removing objects or changing the background.
Google’s NotebookLM Enhances AI Note-taking with YouTube, Audio File Sources and More
Google has updated its AI note-taking and research assistant, NotebookLM, with new features that allow users to get summaries of YouTube videos and audio files, as well as create sharable AI-generated audio discussions. The tool, which was initially launched as a project at Google's I/O developer conference last year, has seen a significant shift in its user base, with 50% of users now being business professionals and the other half being educators and learners.
The latest update expands on the Audio Overview feature, which was introduced earlier this month, by allowing users to share the generated audio discussions with a public URL. Users can also upload YouTube videos and audio files, such as .mp3 and .wav, as new source types, alongside existing support for Google Docs, PDFs, text files, Google Slides, and web pages. This allows users to summarize key points from YouTube videos and generate takeaways and insights from audio recordings.
According to Raiza Martin, a senior product manager for AI at Google Labs, the team adds new features to NotebookLM based on user feedback. The tool is powered by Google's multimodal large language model Gemini 1.5 Pro, and Martin notes that the team is aware of the challenges inherent to AI tools, such as the potential for oversimplification and the loss of the habit of reading long-form content. To address these concerns, NotebookLM provides clickable citations from the content users upload, encouraging users to read the original text and double-check the answers generated by the tool.
In Other AI News…
Gaming
Ubisoft Delays Assassin’s Creed Shadows, Shares Plunge 20%
Ubisoft has revised its financial targets due to "soft" sales of Star Wars Outlaws and the delay of Assassin's Creed Shadows. The company now expects net bookings of around $2.17 billion and break-even non-IFRS operating income and free cash flow. The delay of Assassin's Creed Shadows to February 2025 was attributed to the need for additional time to polish the title, following the "learnings" from the Star Wars Outlaws release. Ubisoft's share price has fallen over 50% in the last year, prompting one investor to call for the company to go private.
As a result of the delay, Ubisoft's shares have plummeted by 20%. The company's CEO, Yves Guillemot, has reaffirmed the company's commitment to creating games for fans and players and has launched a review to improve execution and accelerate the company's strategic path. Meanwhile, Photon, a leading multiplayer service provider, has been highlighted as a key player in the gaming industry, with thousands of live games and over 1.4 billion monthly active players. Photon makes it simple to launch triple-A-grade multiplayer games with Unity and Unreal and has a community of multiplayer developers.
Meta Reveals Quest 3S
Meta has unveiled its new Quest 3S headset, which is set to launch on October 15. The device will be available in two versions: a 128GB model for $300 and a 512GB model for $400. This marks a significant price drop compared to the original Quest 3 and Quest Pro headsets, which launched at $500 and $1,500, respectively.
The Quest 3S is expected to have the same performance and mixed reality features as its predecessor but with some notable changes. These include an improved 2.5-hour battery life, a smaller design, lower-resolution displays, and a narrower depth of field. The headset is being positioned as a lower-cost entry into VR, making it more accessible to a wider audience.
With the launch of the Quest 3S, Meta is phasing out some of its older headsets. The Quest 2 and Quest Pro, as well as the 128GB version of the Quest 3, will be discontinued. These headsets will be sold until the end of the year or until supplies last, with the 128GB Quest 3 being reduced to $430 and the 512GB version being reduced to $500.
Pokemon Sleep Surpasses $120M in Revenue
Pokémon Sleep has reached a significant milestone, surpassing $120 million in gross revenue just 14 months after its launch. This achievement coincides with the rollout of a major smartwatch compatibility update, which allows users to pair the game with their smartwatches and track their sleep without having to leave the app open.
The update enables compatibility with popular smartwatches such as Apple Watch, Galaxy Watch, Fitbit, and Google Pixel Watch, providing users with a more seamless nighttime routine. This new feature broadens accessibility options and saves players from having to buy the $55 Pokémon Go Plus + device or leave their phone running throughout the night.
The game's revenue has been steadily increasing, with 74% of revenue now coming from Japan. The US market remains in second place, accounting for 13% of global in-game spending, while Taiwan remains in third place with a stable 4% share. The game's latest update, Sleep Style Discovery Week, is expected to boost engagement and create more opportunities for microtransactions.
In Other Gaming News…
Web3, Metaverse, and NFTs
BlackRock’s Bitcoin Holdings Now Around $24B After Latest Buy
BlackRock's Bitcoin holdings have surged to nearly $24 billion after its latest buy, as the cryptocurrency continues to rally. Bitcoin has broken through the $65,000 mark, with analysts predicting a fourth-quarter rally and targets set for $70,000 in the near term. Ethereum has also followed suit, gaining 1.5% to trade at $2,665.
Experts point to easing monetary policy, China's stimulus, and increasing on-chain activity as key drivers for the current momentum. Ian Lee, Head of Operations at derivatives exchange Flipster, identifies the recent rate cuts in the U.S. and China as primary drivers behind Bitcoin's current rally. He also notes that the Federal Reserve's monetary policy will be crucial in the coming months.
Markus Thielen of 10x Research emphasizes the potential impact of China's recent $278 billion stimulus plan on the cryptocurrency market. He notes that historically, Chinese capital inflows into Bitcoin have triggered significant rallies, and set an optimistic near-term target of $70,000 for Bitcoin within the next two weeks.
The surge in liquidity coincides with Bitcoin's 30-day realized volatility dropping to 41%, making it more appealing to institutional traders. Illia Otychenko, Lead Analyst at CEX.IO, points out that Bitcoin's surge past $65,000 came on the back of multiple factors, including China's liquidity injection, ETF inflows, and positive U.S. GDP data.
Hamster Combat Shared Roadmap, Launches HMSTR Airdrop, Gets Backlash for Rewarding “Dust”
Hamster Kombat, a popular Telegram clicker game, has announced its plans for the rest of 2024 and into 2025, including the launch of a Web3 gaming platform to expand its game offerings. The game has already onboarded over 300 million users and has banned 2.3 million users for cheating. The team behind Hamster Kombat has revealed a new roadmap, detailing its plans for the last quarter of 2024 and 2025, which includes integrating external payment systems, launching new games, and integrating non-fungible tokens (NFTs) as in-game assets.
However, some users of the game have expressed disappointment with the recent airdrop, which delivered HMSTR tokens to 131 million players. Many users felt that their reward for months of gameplay was inadequate, with some describing their HMSTR stash as "dust" and worth less than $10. The price of HMSTR has fallen significantly since the airdrop, with some users cashing in on their rewards and trading them on exchanges.
Despite the disappointment, Hamster Kombat remains a significant player in the Web3 gaming space, with plans to create a non-fungible token marketplace, conduct a competitive clan championship, and facilitate the second phase of its airdrop in 2025. The game's success has also been recognized by Telegram founder and CEO Paul Durov, who has lauded Hamster Kombat as "the fastest-growing digital service in the world."
Hippo Token-buyer Makes Millions in a Couple of Weeks
A cryptocurrency investor made a remarkable 2,554-fold return on a $1,300 investment in the Moo Deng (MOODENG) token, turning it into $3.4 million in just 15 days. The investor purchased 38.7 million MOODENG tokens on September 10, and the market price of the token increased exponentially over the next two weeks, resulting in a massive gain.
The trade was identified by onchain analytics firm Lookonchain on September 25, and it has sparked suspicions among some community members. They speculate that an insider or developer may have been involved in the trade, given the unusual price movement and the fact that the MOODENG pool had a relatively low liquidity of $1.8 million.
The low liquidity of the MOODENG pool raises concerns about the investor's ability to cash out their entire investment at the current market price. This has led some to question whether the trade was the result of insider trading or if the investor was simply extremely lucky. Others in the crypto community have celebrated the trader's success, hoping to experience similar luck in their trades.
In Other Web3 & Metaverse News…
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