Sony is Ready for the Metaverse
According to Sony’s Chief Executive Kenichiro Yoshida, the Japanese conglomerate is well-positioned to play a pioneering role in the emerging metaverse. Yoshida said in a strategy briefing, that “the metaverse is at the same time a social space and live network space where games, music, movies and anime intersect”, and that Sony is prepared to be a powerhouse in this new industry.
The Sony stock (NYSE: SONY) struggled to escalate in 2022 amid global macroeconomic & geopolitical instability, but has edged over 8% in the past five trading sessions.
MACROECONOMIC DATA ANALYSIS
Federal Reserve Chairman Jerome Powell committed to hike interest rates as high as needed to combat the record-high inflation in the United States which has dampened the U.S. economy and its growth prospects. Currently at more than three-decade highs, inflation will be retaliated against, and this may involve prompt and multiple interest rate hikes.
The Group of Seven (G7) nations will meet in Germany this week, according to French central bank chief Francois Villeroy, with the aim of discussing the regulation of cryptocurrency assets. As said by Villeroy at an emerging markets conference in Paris, “what happened in the past is a wake-up call for the urgent need for global regulation”.
The U.S. dollar edged higher on Wednesday’s early hours, amid a widespread improvement in investor sentiment as a result of strong U.S. retail sales data, and prospects of diminishing coronavirus lockdowns in China. The dollar index, which measures the value of the greenback against a basket of six other major currencies, edged 0.28% higher to 103.66.
Gold has stumbled on Wednesday morning as investors & traders digested Fed Chairman Jerome Powell’s hawkish remarks, with regards to interest rate hikes and surging inflation. As risk seeking appears to have been re-birthed within investors, the bullion fell by 0.06% to price at $1,815 per ounce.
Oil prices escalated on Wednesday’s early trading session, amid investors & traders expecting looser global crude supply as China may ease COVID-19 lockdowns which has constricted global crude supply & demand. Brent futures edged by 1.13% to $113.10 a barrel, while WTI oil futures jumped by 1.74% to $114.36 per barrel.
USA: S&P500 +2.02%, Dow Jones Industrial Average +1.34%, Nasdaq Composite +2.76%
Europe: FTSE 100 +0.03%, DAX +0.09%, CAC 40 +0.12%
Asia: Nikkei 225 +0.94%, Hang Seng -0.20%, CSI 300 -0.34%, Nifty 50 +0.07%
Tim Cook, the CEO of Apple, has provided the closest thing to a confirmation that the company is developing a headset.
In a recent interview with China Daily USA, Cook was questioned about what, in his opinion, are the essential elements for augmented reality, or AR, to be successful in the consumer market.
“I am incredibly excited about AR as you might know. And the critical thing to any technology, including AR, is putting humanity at the center of it,” he said, echoing comments he’s made in the past about how important AR is to the company.
Meta, Microsoft, and other tech titans racing to build the emerging metaverse concept have formed a group to encourage the development of industry standards that will make the companies' nascent digital worlds compatible with one another.
The World Wide Web Consortium (W3C), as well as other well-known standards-setting organizations, are among the participants in the Metaverse Standards Forum, according to a statement released by the group on Tuesday announcing its formation.