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Here’s what you need to know
Nike bought a company that makes sneakers for the metaverse. RTFKT creates virtual shoes as non-fungible tokens, but the terms of the deal have not been disclosed.
Toyota is extending factory closures in Japan. The auto giant has been unable to overcome supply-chain issues, but despite that, it also announced a more rapid shift to EVs.
US officials are investigating Amazon’s warehouse collapse. Six people died at the Kentucky facility on Friday, when it was hit by a tornado. The storm has claimed at least 88 lives across five states so far.
Apple is set to become the first publicly traded company to reach a $3 trillion market cap. Its cash flow has remained strong during the pandemic, and it is launching new products in 2022 that should consolidate its position.
Victims of Larry Nassar agreed a $380 million settlement. Hundreds of women and girls accused the former US Gymnastics team doctor of sexual abuse, for which he is serving more than 300 years in prison.
Elon Musk is Time magazine’s person of the year. The publication said the billionaire founder and CEO represents a “massive shift in our society.”
What to watch for
As the China Game Industry Annual Conference kicks off today, the government’s increasingly tight controls over video games loom large.
Nearly half the country’s population plays video games, generating roughly $45.6 billion in revenue each year. However, new rules that prohibit children under 18 from playing games more than three hours a week—designed to prevent addiction—may put a dent in that number. Also of concern for gaming companies: Earlier this year China suspended new game licenses, although some believe that will be eased near the start of 2022.
The government’s often opaque regulation of films, both foreign and domestic, has already cut into that industry’s growth and profits. The latest regulations threaten to do the same to Chinese gaming companies.
There won’t be just one metaverse
There’s been a lot of talk about the metaverse recently, but what will it actually look like? Reporter Scott Nover recently talked to Raja Koduri, who leads Intel’s Accelerated Computing Systems and Graphics Group; the company will introduce a new series of graphics processors in 2022 that will power the metaverse. While different metaverses might be linked by a single account or powered by a common technological framework, Koduri envisions a multiverse based on different use cases:
🤝 Collaboration: A 3D work environment, “kind of Zoom on steroids.”
🎥 Social: When you need more than a simple video meeting—a creative space “for storytelling or movies or even physical objects.”
🎮 Gaming: A place “where we are having fun, earning points, and doing quests.”
Read the rest of the QZ&A for Koduri’s take on the technology behind the metaverse and how long it will take us to build it.
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Surprising discoveries
Fatally beautiful maps are on display again in Florence. At least that’s how director Dario Argento characterized them in a 1996 film.
The maker of fake Birkin bag NFTs is unhappy about knockoffs of his products. Hermès is suing the former for trademark infringement, but who will sue the latter?
Try out a job in virtual reality. MGM Resorts is trying to reduce staff turnover by giving applicants a spin before they decide.
If your social media handle happens to be the new name picked by a massive tech company, you’ll probably be out of luck. Just ask the Instagrammer formerly known as Metaverse.
Peloton used an ad to get back at the Sex and the City reboot. It wasn’t happy to have its product associated with a character’s sudden death.
Our best wishes for a productive day. Send any news, comments, sickeningly gorgeous art, and knockoffs of knockoffs to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Hasit Shah, Adario Strange, Scott Nover, Susan Howson, and Liz Webber.