Virtual, augmented, and mixed reality (VR/AR/MR) companies across the world revealed key insights on their latest operations and innovations, leading to a week full of promising and shocking updates.

The following are the top articles across the XR industry from the previous week. Be sure to join our recaps by signing up for our newsletter at for the latest XR news!

Web3 Veteran Tony Parisi Joins ME Ventures

Metaverse and Web3 expert Tony Parisi joined investment fund Music Entrepreneur (ME) Ventures to serve on the group’s advisory board and limited partners in a bid to support the rise of Metaverse-linked creative industries.

The veteran tech figure and musician will become a major voice in the investment fund, allowing it to tap rising talent and technologies and build the next generation of spatially-enhanced entertainment.

Meta’s Reality Labs Faces Internal Shake Up

Meta announced last week it would halt development on its Project Nazare augmented reality (AR) smart glasses to focus on its Project Cambria mixed reality (MR) headsets and core products.

The Menlo Park-based firm’s decision to divest in research and development (R&D) for its Reality Labs Division pushed back production of its upcoming smart glasses to 2024, namly after it reported a 26 percent drop in earnings, or a profit loss of $10 billion, for the first quarter 2022.

Avataar Launches 3D AR Tool amid AWE 2022 Win

Avatar, an artificial intelligence (AI) and computer vision platform designed for eCommerce platforms, revealed last week it had released a new AR tool to provide greater insights on consumer behaviour.

The firm’s Supernova product will allow eCommerce merchants to leverage its content creation tools at scale to develop 3D product catalogues for businesses, allowing customers to have full details on upcoming and released products for purchase.

Taqtile Partners with Microsoft at Eurosatory 2022

Microsoft recently inked a partnership with mixed reality firm Taqtile to use the latter’s Manifest platform for instructional overlays via the former’s Azure cloud streaming platform.

The deal will allow companies to tap massive onboarding tools for their operations using Taqtile’s AR overlay tools, providing new hires and skilled workers with crucial data to streamline daily operations.



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