Startup Stash - Forcefields, Farings, Garms & Gears 🥾

So what's the catch? 

The value of the in-game currency is based on cryptocurrencies, meaning it fluctuates drastically. So a 10K run today might be worth the same amount as a stroll to the grocery store tomorrow. 

The concept isn’t new. 

Nintendo’s Wii Fit, launched in the U.S. in 2008, was based on gamercise, though without any monetary reward. And in 2012, an app called GymPact allowed users to earn rewards for meeting their weekly gym visit goals, paid for by users who missed theirs.

So clearly, there’s a market to financialize the simple act of moving around. And Metaverse startups are hoping to capitalize on that market. 

OliveX, a Hong Kong-based startups, introduced a jogging app called Dustland Runner where users follow an audio storyline about a dystopian world infested with pirates. Runners complete missions by running, and earn DOSE tokens (short for “dopamine, oxytocin, serotonin, endorphins”) for their efforts.

But some critics, and even some fans, are calling it a Ponzi scheme.

Since this is a nascent stream, it’s possible your hard-earned jogging money could disappear just like that. On May 26, StepN (Asics parent company) users in mainland China found out they’d soon lose access to the platform, as the company announced it would cut off GPS to its users in China. Following this announcement, StepN tokens quickly dropped in price and worldwide users who'd earned thousands of dollars in rewards on the app saw their asset value come crashing down.

In fact, startups have already started pivoting into the resale market and framing inflation into their marketing. Denim brand Wrangler and mall retailer PacSun both launched their own lines of secondhand apparel. Target, meanwhile, is revisiting the resale format with a new pilot program with resale vendor ThredUp. Since then, ThredUp reported a 35% jump in year-over-year sales for its fiscal fourth quarter. 

There have been a lot of predictions in the past about the resale industry overtaking the retail industry in the coming years. But most of those predictions sighted sustainability and climate change as the reason. But for inflation to lead the way into a resale boom was little expected. 

A recent study from National Research Group, detailing consumer views of the Metaverse found that the majority are excited about the Metaverse. However, 78% of them say "when interacting with people virtually, I miss the ability to physically touch and interact with them.” 

If only there was a way to make the virtual world more sensory than it already is. Hmmm…. 

Well, this VR device lets you do just that. It lets you feel the Metaverse with your bare hands. Emerge’s Wave-1 is part of a new VR space called haptics, which is all about adding touch to the virtual reality experience. Haptics hopes to build on the Metaverse by delivering more engaging and emotional ways to connect with others.

How it works: 

• You place the device flat on the table and it sends an ultrasonic forcefield up into the air, creating a sensation of physical touch on your skin. 
• It lets you play and interact without gloves or controllers and feel effects such as high-fives and fist-bumps. 
• You can feel the mid-air force-field up to three feet above the device and 120 degrees around it. 

Emerge will initially support the Meta Quest 2 platform.

Around the world, the use of VR is increasing. Sweden is using VR to train postal workers - simulating everything from sorting packages to checking and operating vehicles.