Foxconn, or the Hon Hai Technology Group, announced on Tuesday it had inked a Memorandum of Understanding (MOU) with extended reality (XR) hardware solutions firm XRSPACE.
Moreover, the agreement between the manufacturing behemoth and XRSPACE intends to produce the next generation of visual reality solutions that will help to establish the Metaverse. With the former spending up to $100 million in the latter.
XRSPACE has pioneered numerous technologies such as AI, Metaverse avatars, and 3D virtual spaces
XRSPACE has pioneered various technologies, including artificial intelligence, Metaverse avatars, 3D virtual environments, hand and holographic tracking, and more. Moreover, now wants to merge its solutions with Foxconn to create new Metaverse ecosystems under a single vision.
For the Metaverse, the next spatial communications platform and future iteration of the internet and smartphones slated to take shape in the near future. Moreover, the collaborative effort will expose new breakthroughs for consumer experiences, components, manufacturing, and other use cases.
XRSPACE’s portfolio of Metaverse products includes PartyOn
PartyOn, a social music network for consumers. In addition, XRSPACE’s enterprise-grade GOXR tool for creating commercial virtual experiences are among XRSPACE’s Metaverse offerings.
Pico Interactive and Rokid collaborated on a similar project for usage on Neo virtual reality (VR) headsets and Air augmented reality (AR) smart glasses, respectively. The Meta Quest 2 and XRSPACE’s Manova VR gadget can also enter the virtual realm. According to a late January announcement.
The announcement follows Foxconn’s use of the GOXR platform during the Hon Hai Tech Day event in October last year. Which received excellent reaction from businesses and customers, according to a statement.
Moreover, the large investment, according to the agreement, would provide XRSPACE better access to the Metaverse infrastructure. Helping the company to expand and improve its products.
Taiwan as a Global Metaverse Developer
The recent breakthroughs come as Taiwan establishes itself as a worldwide leader in Metaverse technologies, with HTC, one of the country’s major consumer and corporate tech companies, aggressively expanding its product array of VR, AR, and MR devices to support this expansion.