James Murdoch’s Metaverse App Octi Launches

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Octi, an app funded by James Murdoch and entertainment industry backers that allows users to create and share videos that blend elements from the physical and virtual worlds, launched on Tuesday.

The iPhone app has a library of virtual props and scenes that users can use in their videos.

Octi has attracted investments from Murdoch’s Lupa Systems, LiveNation Entertainment and veteran music executive Jimmy Iovine.

This version of Octi is largely different from the social networking app the company launched in January 2020, which drew criticism for using facial recognition that recognizes a person’s most popular YouTube videos or Spotify favorites as soon as users of the app point their phone cameras at them.

This feature has now disappeared from Octi, which now highlights users who interact with virtual 3D objects.

Octi’s wide range of digital assets allows users to “wear” costumes and shoot a video in virtual environments, just like a digital recreation of the Great Hall from the Harry Potter films.

Users can scan their immediate surroundings and interact with digital characters such as the 3D version of Disney’s Jack Sparrow from Pirates of the Caribbean or Nintendo Pokemon characters in the real world.

Octi rewards users with digital currency to encourage them to make videos and participate in thematic challenges create videos that other users like, or import real-world objects that others use for their own videos.

These redeemable coins can be used to purchase real or virtual goods from the Octi Shop.

For more information, read the original story in Reuters.

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