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(SILICON VALLEY) Facebook ‘Metaverse’ 3D Virtual Reality Report: New Zealand film director Sir Peter Jackson on Wednesday announced the sale of his Oscar-winning Weta Digital special effects business to a US software firm intent on using it to develop the virtual-reality “metaverse” #AceNewsDesk report

#AceNewsReport – Nov.12: San Francisco-based Unity Software said the $US1.6 billion ($2.1 billion) acquisition would “shape the future of the metaverse”, an immersive 3D version of the internet tipped to transform workplaces and online interactions.

#AceSocialDesk says according to AFP News Report: Peter Jackson’s special effects firm Weta Digital sells for $US1.6 billion in ‘metaverse’ deal

A man with long grey hair with beard points towards a camera
Peter Jackson called the aquisition of his company a “game changer.”(AP: Photo/Francois Mori, File)

The firm said Weta’s technology — used in blockbusters such as The Lord of the Rings trilogy and Avatar — would allow its subscribers to create their own ultra-realistic corner of a virtual world.

Unity president John Riccitiello said the deal would open up new opportunities for creatives. 

“We are thrilled to democratise these industry-leading tools and bring the genius of Sir Peter Jackson and Weta’s amazing engineering talent to life for artists everywhere,” he said. 

A man with bright blue eyes and dark curly hair reaching desperately for a gold ring.
Weta Digital has been used in blockbusters like The Lord of the Rings and Avatar. (Supplied: New Line Cinema)

Under the deal, Unity takes over Wellington-based Weta Digital’s technology and engineering assets while Sir Peter retains majority ownership of a standalone film effects company called WetaFX.

Sir Peter said the opportunity to use Weta’s ground-breaking programs was a “game-changer” for those working in creative industries.

“Together, Unity and Weta Digital can create a pathway for any artist, from any industry, to be able to leverage these incredibly creative and powerful tools,” he said.

The so-called metaverse is expected to develop into an online platform that makes virtual experiences — such as chatting with a friend or attending a concert — feel face-to-face.

It grabbed headlines last month when Facebook changed its parent company name to “Meta” to reflect founder Mark Zuckerberg’s commitment to the concept.

People in a cinema wearing glasses with blue lights reflecting on their faces from a screen
Weta Digital will be used to make online interactions feel more realistic. (Reuters: Mario Anzuoni )

Zuckerberg’s firm has announced plans to hire 10,000 people in the European Union to build the metaverse, but other tech players are also scrambling to stake a claim in the online world.

The technology might allow someone to don virtual reality glasses that make it feel as though they’re face-to-face with a friend when in fact they are thousands of miles apart and connected via the internet.

“The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start,” Facebook said in a blog post.

Zuckerberg predicted in July that Facebook will transition from “primarily being a social media company to being a metaverse company” over the next five years.

Facebook bought Oculus, a company that makes virtual reality headsets, for $US2 billion in 2014 and has since been developing Horizon, a digital world where people can interact using VR technology.

Play Video. Duration: 7 minutes 3 seconds
As Facebook goes ‘Meta’, we ask what is a metaverse?

#AceNewsDesk report ……………Published: Nov.12: 2021:

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