Start Up Cash For Future Trash And RunwareAI, Adios HoloLens, Heidi Klum’s ‘Modelverse’

Meta’s release of its Orion see-through AR glasses is causing its competitors to rethink their strategy. Apple previously shelved an earlier see-through AR project, but the company is now re-thinking this. They still have not announced the next, more affordable XR device after its release of the $3,500 Vision Pro in February. Their options are open. At the same time, Samsung has also delayed entering the XR market. Everyone is betting glasses will replace the smartphone, but everyone knows timing in this is going to be everything. The light and unobtrusive Meta’s Ray-Bans are closer to the mark. And they are a great platform for sensors that would enable wearable AI. And they are entirely dependent on the smartphone for compute.

Microsoft Says Adios to the HoloLens 2. In a surprise to noone, the tech giant is ending production of its Mixed Reality see-through stand-alone headset. They’ll maintain software support until December 2027. The original HoloLens, which ceased production in 2018, will lose its software support by December 2024. The HoloLens 2 now joins Magic Leap in the dustbin of history. Instead, Microsoft is forging a partnership with Meta, and is still hoping the militarized HoloLens, IVAS, has a shot of being adopted by the Army (it’s not gone well so far).

Future Trash Raises $5 Million for build on Metaverse platforms. , a multidisciplinary creative studio based in Los Angeles, has raised $5 million in seed funding to develop its original IP, FOAD, on Fortnite’s Unreal Editor (UEFN) platform. TIRTA and General Catalyst led the funding. Future Trash, co-founded in 2022, focuses on creating competitive party games featuring anthropomorphic explosive characters. Their debut IP, FOAD, launched in June 2023, has garnered significant attention, crossing 20 million unique players and accumulating over 1 billion minutes of playtime.

RunwareAI Secures $3M to Launch Fastest Generative AI API, Promising Real-Time Media at Scale. I can personally attest that Runway.ai is the fastest image generator on the web. And its freemium version seems to deliver endless instant AI image generations. The company recently raised $3 million from investors including A16Z Speedrun, Lunar Ventures, and Zero Prime, aiming to expand its AI offerings. ​

Infinite Reality (iR) is set to acquire a majority stake in Super League Enterprise (SLE). The deal is a combination of share exchange, capital commitment, and asset transfer. The deal includes iR acquiring 9.9% of SLE’s shares initially, with plans to increase its stake to 75% and secure two board seats. The transaction also brings a commitment of $20 million in cash and access to a $30 million credit facility. iR will contribute assets like Thunder Studios, TalentX, and Fearless Media, positioning the merged entity to expand in pop culture, entertainment, and immersive technology markets, with a focus on Gen Z engagement.

Warner Bros. Discovery partners with Google for AI-generated captions on Max streaming service. Warner Bros. Discovery has partnered with Google to integrate AI-generated captions on its Max streaming platform. This collaboration leverages Google’s artificial intelligence to enhance accessibility by providing automatic captioning for content, addressing diverse audience needs. The AI technology aims to generate real-time, accurate captions, improving the viewing experience for users, including those with hearing impairments. This move highlights Warner Bros. Discovery’s efforts to embrace advanced technologies and improve user accessibility on its streaming service, keeping it competitive in the evolving digital entertainment landscape.

Heidi Klum has teamed up with Supersocial and Roblox to launch “Modelverse.” The virtual fashion experience is designed to promote self-expression and body positivity. Inspired by her daughter’s love of Roblox, Klum’s initiative allows users to customize avatars with diverse body types and dress them in digital fashion. Players can participate in virtual events, including runway shows based on Klum’s iconic Halloween party, and have their outfits judged by Klum and the Roblox community. The game caters to Roblox’s growing audience, offering a platform for creativity while tapping into trends in digital culture and virtual fashion.

Shenandoah University Presents VR Experience of historic 1789 Debate in Constitution Hall. Shenandoah University (SU) has launched *The Great Experiment*, a virtual reality experience allowing users to step back into the year 1787 to participate in debates over the U.S. Electoral College. Developed through SU’s HIVE, the project immerses participants in pivotal historical moments and aims to serve as an educational tool for classrooms. The VR project, which began in 2019, involved hundreds of students and faculty across disciplines, including programming, research, and voice acting. A free version of *The Great Experiment* is available on the SU site, here.

“Found” is an AI Trailer for a four minute “spiritual sequel” to the classic TV series “Lost” by LA-based video editor Andrew Oleck. He uses Midjourney as his key starting point and then works with Luma, Runway, Kling, and Minimax to generate video. “This AI video revolution has really opened up my imagination and energized me,” Oleck told me. “My crazy sci-fi, action, adventure film ideas that seemed impossible to make without studio funding, can now become a reality. I see AI giving power to really talented people, to make their dreams come to life, without all the Hollywood gatekeeping.”

This column, formerly called “This Week in XR,” is also a podcast hosted by author Charlie Fink, Ted Schilowitz, former studio executive and co-founder of Red Camera, and Rony Abovitz, founder of Magic Leap. This week our guests are Antony Batt, Neville Spiteri, co-founders of the studio WeVR, famous for creating The Blu. We can be found on Spotify, iTunes, and YouTube.

What We’re Reading

1 big thing: Meta plans to seed your feeds with AI-made posts (Ina Fried/Axios)