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‘India’s unique strength is its large developer population’ – 30 quotes of the week on the India business opportunity

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Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week (see the previous edition here). Share these 30 gems and insights from the week of January 10-16 with your colleagues and networks, and check back to the original articles for more insights. See also our special compilation of quotes related to India’s coronavirus responses here.

With the emergence of trade financing facilitated by digital platforms and agri-commodities in the capital markets, the [agriculture] sector will benefit from higher liquidity in the coming years. – Sunoor Kaul, Origo Commodities

Digital financing in India is entering a high growth phase and will be instrumental in achieving financial inclusion. – SuMi TRUST Bank

There are so many women out there who are earning well but they don’t know how to manage their finances. – Simran Balar Jain

Women have now become one of the most crucial driving forces in the growth of the direct selling industry in India. – Gautam Bali, Vestige Marketing

One in every five women in India are suffering from lifestyle disorders such as PCOS, thyroid, and hormonal imbalance. – Akhila Joshi, Akhilasoukhya

In India, there already is a stigma associated with sex and sexual health, and in that men’s sexual wellness is further tabooed. Men don’t have an equivalent of a gynaecologist in our country. – Pranay Jivrajka, Allo Health

Today’s consumer is seeking easy, convenient and at-home ways to stay fit and healthy. – Deepak Sachdeva, Strauss

The nutraceutical market in India has seen strong traction over the last few years and is expected to grow at over 20 percent in the coming years. –  Sumit Keshan, Wipro Consumer Care – Ventures

The ethnic beverages market in India is underserved. – Saurabh Munjal, Lahori

Squares are infamous for being places with a lot of pollution, so that is another challenge. – Shubhi Jain, traffic volunteer

To reuse any of your old sarees, throw a pair of dazzling sleeves and your favourite jewellery to look glamorous in seconds! – Riya Khattar, Heart Up My Sleeves

The demand for sustainable fashion is increasing tremendously and we see bamboo fibers replacing others due to its performance and ecological benefits. – Nihar Gosalia, Mush

Waste management in India and many other parts of the world is already a big problem and it is getting worse. – Raja Parthasarathy, Morgan Stanley India Infrastructure

The [gaming] sector is growing faster than most media sub-sectors like home entertainment and audio, among others. – Piyush Kumar, Rooter

India has more than 20 lakh content creators and they are growing exponentially. – Rahul Khanna, Barcode Entertainment

Last year, the fantasy sports industry, which consists of over 200 companies, has contributed Rs 3,000 crore in media rights, sponsoring teams, leagues, players and spending money in every single sports event. – Harsh Jain, Dream Sports

It is only in the last three years, brands have started spending money on price pools, gaming creators and professional esports to engage the GenZ. – Vikas Goel, EsportsXO

India is a very hybrid market, it is not going to go all online; there will always be general trade and your offline stores as well. – Sameer Chugh, Mosambee

Today, India has over 600 D2C brands, and the number is rising quickly. – Mangesh Panditrao, Shoptimize

The online food delivery industry in India is going through a revolutionary phase, the market has shown huge prospects and attracted heavy investments in recent years. – Ankit Nagori, Curefoods

99 percent of the high schools in India are bereft of a structured career guidance setup! This statistic is an alarming one since there are hundreds of millions of high school students in India. – Prateek Bhargava, Mindler

The whole system, culturally, socially, and economically, is not designed in such a way that the best of the society aspires to become teachers. – Vamsi Krishna, Vedantu

Children of slum dwellers often do not get access to basic education and instead have to start working to support their families. – Rashi Anand, Lakshyam

To boost education to underprivileged students, we must emphasise on skill development programmes and we must teach new-age skills to help them face the real world. – Akhil Shahani, Ask.Careers

To protect and enrich our society, we must use the capabilities of the youth and children. – Shubham Rathore

One of the best ways to unlock the value of India’s entrepreneurial spirit is to back founders just as they are getting started. – Jay Zaveri, Social Capital

India, in turn, can reap the benefits of this startup revolution, while being more self-reliant, and emerging as a global powerhouse and exporter of deep tech innovation. – Vidya Chandy, Chiratae Ventures India Advisors

India is also home to one of the largest English-speaking populations in the world. This means the ability to create companies from India that can serve a global audience. – Amit A Patel, Owl Ventures

India is a market with booming EV demand especially in the commercial vehicle segment, but there is a severe supply shortage. – Olaf Sakkers, RedBlue Capital

India is one of the fastest-growing markets for electronic goods, with smartphones being one of the most in-demand. There is a large set of consumers who aspire to own branded devices, but prices are sometimes prohibitive. – Prakash Sikaria, Flipkart

India is still consuming almost 0.5 kg of paint per capita, while it is 22 kg per person in the developed countries. – Supreet Singh, StarShield Technologies

Currently, India contributes to 3 percent of the global space economy. This is expected to grow to 10 percent with the increased collaboration of the public and private sectors. – Padmaja Ruparel, IAN

India’s unique strength is its large developer population. Rapidly adding to it now is the low-code / no-code platforms that are democratising digital asset creation. – Anant Maheshwari, Microsoft

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).

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Holiday Gift Guide For Eco-Minded Travelers

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Traveling offers a greater understanding of the world but can also damage it. Here are some gift ideas for those who prefer to tread lightly. Almost all are from small businesses.

1. Water filtration bottle. Drink filtered water on the go instead of buying plastic water bottles with Hydros 20 oz Water Filter Bottle $20 or if the local water quality is iffy, protect against bacteria, parasites, dirt, and sand with a Lifestraw bottle $40.

2. Shampoo/conditioner bars. Eschew plastic shampoo bottles and airline liquid restrictions with shampoo and conditioner bars from Green Ablutions $12, Ethique $15, HiBar $13.95 or good juju $19.95. All brands have discounts on your first purchase.

3. Solar powered phone charger/lantern. This flat solar-powered phone charger from Luminaid is also a folded-up lantern that pops up into a cube shape for night time. A red light mode ensures your star-gazing won’t be interrupted if you are using it for camping. $60

4. Laundry saver. Do less laundry on the road with Magic BrushOff, designed as a reusable spot lifter/sponge to get rid of deodorant, makeup marks, lint, salt marks, and more from clothing and cloth surfaces. $14.50.

5. Makeup remover. Use this specially-designed washcloth from Make Up Eraser instead of packing and throwing away disposable makeup wipes. $20.

6. Personal lubricant (for vehicles). Gear Hugger’s plant-based lubricant can help keep bike parts, strollers or wheelchairs moving so the recipient can “buy less, fix more and play longer.” $13

7. Cozy hat made of sustainable recycled wool and cotton for your winter travels. Designed in Denmark. Comes in recycled packaging. From Trendhim $39

8. Silk Travel Eye Mask to help get some shut eye on the road. Silk can biodegrade, and uses less water, chemicals, and energy than many other fibers. From Saatva. $60

9. Reusable lunch and snack bags Eschew plastic bags and foil wrap on your day trips with colorful reusable, washable, dishwasher-safe zip up bags $13.50 from Green City Living.

10. Natural Bug Repellant. Murphy’s Naturals DEET-free, plant-based Mosquito Repellent Balm $9.99 or Bite Relief Soothing Balm Stick $5.99 can be thrown in a purse or backpack.

11. See home in a new way – Give the gift of experience with a food, coffee, or street art tour guided by local experts from the Tours By Locals website.

12. Recipient’s Choice: Reduce returns and waste by giving the recipient their choice of travel item from Snappy Gifts website. Items include a solar phone charger and sustainability sourced toiletry organizer.

Note to readers: I received product samples for evaluation but I will pass them along if possible (not the used shampoo bars) and I do not/will not receive any payment from the companies listed.

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Why graphic novels are lucrative IP for Web3: From MEFaverse to metaverse

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Marvel’s multi-billion dollar IP enterprise is eating up the film and streaming market — but the metaverse is offering new opportunities and creating a whole new market.

Marvel is valued at nearly $6 billion for films alone, $40 billion for streaming and about $3 billion for consumer products, according to a 2021 Forbes analysis. While the media giant dominates the lion’s share of graphic novel IP in entertainment within film and streaming, the metaverse offers new opportunities for graphic novel IP. The ‘metaverse in entertainment’ market share is expected to increase to $28.92 billion by 2026. 

The entertainment market is essentially expanding with the creation of the metaverse, therefore presenting opportunities to replicate the lucrative success that Marvel has enjoyed. But what made Marvel so popular, and why is the multiverse primed for the metaverse? 

Since the inception of the metaverse as a concept, some of the earliest explorations have included the creation — and adaptation of — graphic novels for this new virtual environment. From Method Man’s comic book MEFaverse, to the adaptation of Dan LuVisi’s iconic Last Man Standing: Killbook of a Bounty Hunter, to Killtopia catering to Japan’s ‘Otaku’ community of manga and animé fans.

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But why is graphic novel IP so attractive to directors writing for a digital medium with interactive audiences? And what opportunities are potentially being left on the table? To understand the attraction of graphic novel IP, we only need to look at the formula of success that Marvel and DC have built. 

An ever-expanding world

Marvel’s IP is not one story, but a universe that continues to expand. Recent editions to Marvel’s onscreen world include She-Hulk: Attorney at Law, Ms. Marvel and the upcoming Secret Invasion. The stories that come to life in film and TV are often based on specific heroes within that universe — or, more aptly, the multiverse.

In film, appearance-altering costumes, special FX make-up and visual FX (VFX) enable directors to cast different actors to play the same character in the franchise. The most popular and talented actors, with the strongest following in the target demographic for the box office, can have their turn playing the hero. In fact, actors no longer need to sign long-haul multi-movie contracts with Marvel.

The metaverse offers even more creative diversity. Graphic novel characters can be customizable according to the themes of different concept artists, and the same character can travel through a manga world into one that’s photorealistic. Perhaps a good interpretation is Dr. Strange’s journey through the multiverses, as we see him enter a variety of differently stylized worlds until he eventually finds himself surreally realized as a colorful gelatinous shape. 

One of the key differentiators between a virtual world and a game within the metaverse — or what will be the metaverse — is this interoperability, the way in which an avatar could be used in different virtual worlds. The way avatars are translated stylistically in those different worlds is a key focus for metaverse builders. And it’s something Marvel has been doing well for some time. People love the graphic novel style of Marvel films and how they not only pay homage to the original art form but also amplify the movie experience with state-of-the-art VFX. 

For example, LMS: Killbook of a Bounty Hunter is being translated for the metaverse after amassing a core fanbase. LMS is simultaneously a scrapbook-style graphic novel, a character bible for the anti-hero Gabriel and an introduction to the colorful yet deadly world of ‘New Amerika’. Initially released as a series of artworks, LMS soon gathered a solid fanbase that demanded more of Dan LuVisi’s world. The rights to LMS were bought by Section 9, which approached metaverse-as-a-service company Sequin AR with the idea of creating an LMS metaverse. With a rich world and a pre-existing community, Sequin believed LMS was the perfect property for a metaverse environment. 

The attractiveness of graphic novel IP

Sequin AR’s CEO Rob DeFranco explains why the graphic novel IP was so attractive: “The world that Dan created is vivid, imaginative, and full of pop-culture references with a sharp satirical tone that makes it a model property for the metaverse. There is a big community already in place for LMS. For example, a Comic-Con special edition toy of Gabriel, created by the popular brand Funko, sold out on the first day of the convention. Since the book first launched 10 years ago, there has been a cultural shift in how we interact with the properties we love.” 

Graphic novels rely on captivating imagery, along with compelling stories. The community building the metaverse is a blend of creatives, technologists and storytellers, similar to the teams that produce the Marvel universe. For example, the team behind Method Man’s MEFaverse includes Method Man himself, and renowned graphics artist Jonathan Winbush of Winbush Immersive, with Xsens motion tracking technology helping them translate real-life movement into the digital world. It’s no coincidence that Winbush built his own brand as a creator from his time working at Marvel. 

“The trajectory of the NFT/Web3 space as a whole, in my opinion, only has one direction to go: up,” says Method Man. “I see no reason why it wouldn’t, as brands and individuals realize the unique opportunities and potential this space offers, as well as the utility it provides. That said, my hope is that it can continue to grow while remaining mindful of values such as inclusivity and positivity, which are both pillars of the MEFaverse community.”

The metaverse and the story of good vs. evil 

The metaverse has the potential to be many things, good or bad. Most metaverse evangelists also acknowledge how human influence tends to invade — and sometimes spoil — the utopian promise of future technology.

For example, Aragorn Meulendijks, Chief Metaverse Officer (CMO) from Your Open Metaverse, a distributed metaverse for streaming Web3 content, recently shared his candid thoughts on Elaine Pringle Schwitter’s HeadsTalk Podcast. According to Meulendijks, the mission for those building the metaverse needs to align with the reality of flawed human nature. This sentiment is omnipresent in Marvel; the premise of superhero films is that good and evil always exist in tandem, and even heroes are flawed. 

While there are inevitable flaws, the multiverse can also be employed altruistically. Representation and connection are frequent themes in graphic novels, often speaking to those who don’t feel part of mainstream pop culture. This links back to Winbush’s work on the MEFaverse.

“We wanted to create more ‘metamasks’ or PFPs with different traits to represent our community,” he explained. “Method Man’s motivation in creating the MEFaverse was to show his fans their powers, the unique traits that make them who they are but in the superhero realm. Method Man wanted everyone that was excited about the MEFaverse to have a mask that truly represents them. He wanted his community to be shown their unique powers in a superhero realm.”

The building blocks of film production are being used to build the metaverse

The technology that underpins movie production is driving metaverse creation. For example, motion capture is harnessing and translating movement to avatars, while Unreal Engine is being used to create the worlds themselves.

Charles Borland, founder of real-time studio Voltaku explained: “When I was an actor in a video game called Grand Theft Auto IV, I would spend a lot of time in a mocap suit, and I’d been on a lot of TV and film shoots and saw just how inefficient the Hollywood production process is. I remember thinking, holy cow, when this technology and the economics get to a certain point, all of this gaming technology and real-time technology is going to revolutionize filmmaking and how you make content.” 

Talking about the use of technology in Killtopia, Charles elaborated: “If we’re going to build this in a game engine, like Unreal Engine, then we [had]to do things like set up a camera inside of Unreal. We knew we were going to have an actress and we were going to try and do this in real-time, but one of the things we were looking at was real-time ray tracing, and to push the envelope on that. We couldn’t go into the studio and do full camera tracking, so we wanted to find something inertia-based. Using the Xsens suit, capturing the raw mocap data, enabled us to create the avatars”. 

From an investment standpoint, how Marvel’s magic formula for success translates to the metaverse is clear. But IP in the metaverse goes far beyond a franchise of characters. Fans build on these worlds themselves, becoming creators in their own right. And in order to create, they need to feel invested. And that’s where the technology underpinning interoperability is key.

Blockchain blockbusters

Killtopia’s Charles Borland explains: “To invest in interoperability, stakeholders and project owners need to know that the assets for whom they’re building aren’t going anywhere. Of course, that’s if by ‘decentralized,’ you mean you’re applying blockchain. What’s great about that is it’s immutable and it’s public. So I know if I build around a project, even if it tanks, my pipeline will stay. Because the things I’ve been referencing and looking at are going to stay online in this decentralized file hosting system, which is great.”

This is an example of how the technology used in metaverse creation is improving the entire production pipeline. Accelerating the content production workflow, and safeguarding the assets for future use, is a challenge even Marvel faces. 

Cultural shift between content creators and consumers

Borland highlights the cultural shift in how we interact with the properties we love. COVID-19 drove the rapid acceleration in digital experiences, helping us to forge genuine connections when real-life interaction wasn’t possible. The convergence of these behavioral changes and technology advancements is now paving the way for the future metaverse, with mixed reality live performances — which became more prevalent during the recent pandemic — offering a hint of what we might expect. 

Brett Ineson, founder of Animatrik Film Design, which has hosted mixed reality performances for Justin Bieber, Pentakill with Wave XR and even virtual circuses with Shocap Entertainment, says: “Nailing the look and feel of a world will be paramount to delivering the illusion of reality, and that’s where capture technology will come into play. Motion capture will be essential for creating lifelike animation for characters and creatures in these virtual worlds so that players feel like they are interacting with real beings.”

Technologists and storytellers are helping to unleash the potential of new IP into the metaverse. Right now, the reality is that the metaverse does not exist, but it represents the next step in immersive and engaging entertainment. The more engaged a community is, the more invested it is in the story. Powered motion tracking, performance capture, interoperable avatars, virtual worlds and hip hop artists-turned-super heroes, the metaverse is prime real estate for the next Marvel enterprise. 

Rob DeFranco is CEO of Sequin AR.

Brett Ineson is cofounder of Animatrik Film Studios.

Remco Sikkema is senior marketing communications manager at Movella and Xsens.

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Fortnite Chapter 4 debuts with Unreal Engine 5.1

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Fornite Battle Royale Chapter 4 arrived today and it makes use of Unreal Engine 5.1, Epic Games announced.

The debut shows how tightly Epic Games ties its overall strategy together. Fortnite is the prime revenue generator for the company, reaching tens of millions of players who buy in-game items. And Unreal Engine is the game developer tool that makes the advances in Chapter 4 available. To sell developers on the engine, Epic eats its own dog food by building Fortnite with Unreal to showcase what it can do.

Unreal Engine 5.1 provides new features that make the game look and run better. Unreal Engine 5 itself debuted earlier this year and it Unreal Engine 5 ushers in a generational leap in visual fidelity, bringing a new level of detail to game worlds like the Battle Royale Island.

Shadows and lighting are better in Fortnite with Unreal Engine 5.1.

Next-gen Unreal Engine 5 features such as Nanite, Lumen, Virtual Shadow Maps, and Temporal Super Resolution — all features that can make Fortnite Battle Royale shine on next-generation systems such as PlayStation 5, Xbox Series X|S, PC, and cloud gaming.

Epic Games said that over half of all announced next-gen games are being created with Unreal Engine. And it said developers can now take advantage of updates to the Lumen dynamic global illumination and reflections system. This is important stuff if you’re a game developer, or you’re expecting to build the metaverse.

Epic has made updates to the Nanite virtualized micropolygon geometry system, and virtual shadow maps that lay the groundwork for games and experiences running at 60 frames per second (fps) on next-gen consoles and capable PCs. These improvements will enable fast-paced competition and detailed simulations without latency, Epic said.

Additionally, Nanite has also added a programmable rasterizer to allow for material-driven animations and deformations via world position offset, as well as opacity masks. This development paves the way for artists to use Nanite to program specific objects’ behavior, for example Nanite-based foliage with leaves blowing in the wind.

Nanite provides highly-detailed architectural geometry. Specifically, buildings are rendered from millions of polygons in real time, and each brick, stone, wood plank, and wall trim is modeled. Natural landscapes are highly-detailed too. Individual trees have around 300,000 polygons, and each stone, flower, and blade of grass is modeled.

On top of that, Lumen reflections provide high-quality ray traced reflections on glossy materials and water.

Water and shadows look prettier in Fortnite Battle Royale Chapter 4.

Also, Lumen provides real-time global illumination at 60 frames per second (FPS). You’ll see beautiful interior spaces with bounce lighting, plus characters reacting to the lighting of their surroundings. (For example, red rugs may bounce red light onto your outfit.) Also, Outfits that have emissive (a.k.a. glowing) qualities will scatter light on nearby objects and surfaces.

Virtual Shadow Maps allow for highly detailed shadowing. Each brick, leaf, and modeled detail will cast a shadow, and character self-shadowing is extremely accurate. This means that things like hats and other small details on characters will also cast shadows.

Temporal Super Resolution is an upgrade over Temporal Anti-Aliasing in Fortnite, and allows for high-quality visuals at a high framerate.

With the introduction of these UE5 features in Fortnite Battle Royale, Fortnite’s Video settings have changed on PC. You can see them here.

To run Nanite, the minimum hardware requirements are Nvidia Maxwell-generation cards or newer or AMD GCN-generation cards or newer.

For Nanite, Lumen, Virtual Shadow Maps, and Temporal Super Resolution to be available in Fortnite on your PlayStation 5 or Xbox Series X|S, make sure the “120 FPS Mode” setting (in the “graphics” section of the Video settings) is set to off.

Unreal’s reach has grown well beyond games. Unreal Engine has now been used on over 425 film and TV productions, and is integrated into over 300 virtual production stages worldwide. Unreal Engine usage in animation has grown exponentially, from 15 productions between 2015 and 2019 to over 160 productions from 2020 to 2022.

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