In its ongoing push to develop and expand the metaverse, Meta is now inviting applications for the beta test of Horizon Worlds on mobile devices. This move aims to broaden access to its VR social environment, which will be the cornerstone for Meta’s future social interaction initiatives.

The goal is to encourage users to engage through avatars in novel ways, expanding the range of activities within the metaverse and fostering greater VR adoption. Meta recognizes that the younger generation conducts most social interactions online and within gaming environments like Fortnite, Minecraft, and Roblox.

As this demographic matures, Meta anticipates they’ll seek more immersive experiences, making the Horizon Worlds mobile app a pivotal tool in transitioning users to immersive VR environments. The impending launch of Meta’s Quest 3 headset aligns well with this strategy, potentially uniting VR gamers and mobile users.

While the metaverse remains in its early days and has yet to see widespread adoption, these steps represent crucial progress toward its realization. Meta is building bridges to the next stage of the metaverse, positioning itself to drive its uptake in the future.1


One company already seeing the metaverse’s benefits is fashion brand Ralph Lauren. Ralph Lauren’s CEO, Patrice Louvet, is seizing on the potential of virtual reality (VR), recognizing that the fashion industry must adapt to changing consumer preferences. While traditional polo shirts may be losing ground in the real world, the same isn’t true in the metaverse. As Louvet stated in August, “We are investing in the metaverse. We want to be where our consumer is.”

In 2021, Ralph Lauren first ventured into the digital realm, launching a digital fashion line in Roblox, which has 66.1 million daily active users. The move paid off handsomely, as digital customer acquisition surged 58% that quarter. Share prices rose 6%, and profits soared to $218 million, marking an 82% year-over-year increase.

The brand’s latest strategic move is a partnership with Fortnite, where Ralph Lauren has an immersive branded world featuring a Polo Pony-shaped island. As a tie-in to the launch, players can buy both digital and real-life Polo x Fortnite PWing Boots, bridging the virtual and physical worlds.

Ralph Lauren’s continued commitment to the metaverse demonstrates its desire to meet the evolving desires of younger consumers and stay at the forefront of digital engagement with its brand.2

Updates on Specific Companies

Meta Platforms Inc

While Meta’s first AR glasses, codenamed Orion, aren’t set to debut until 2024, we got more details about their specifications in August.

Source: Meta (Ray-Ban Stories)

Meta intends to produce an initial run of about 1,000 units, earmarked for internal development and demonstrations. A larger production for public consumption is now scheduled for the second-generation AR glasses, codenamed Artemis, expected in 2027. Though arriving later, Artemis will employ older, more cost-effective technology, opting for cheaper LCoS displays over MicroLEDs and glass lenses instead of silicon carbide. This choice may result in a slightly dimmer image and narrower field of view but will help keep the final sale price in reach of more consumers.3

Autodesk Inc

Autodesk has joined forces with industry giants Adobe, Apple, Nvidia, and Pixar, alongside the Joint Development Foundation (JDF), to establish the Alliance for OpenUSD (AOUSD). This collaboration aims to bolster the standardization, development, evolution, and growth of Pixar’s Universal Scene Description (USD) technology.4

USD, often referred to as “the language of the metaverse,” serves as a high-performance 3D scene description technology known for its interoperability across various tools, data, and workflows. OpenUSD’s adaptability positions it as an ideal platform for diverse industries and applications.5


By promoting enhanced interoperability among 3D tools and data, the Alliance will empower developers and content creators to manage large-scale 3D projects such a metaverse applications effectively, helping broaden the scope of 3D-enabled products and services. This expansion will be particularly valuable for the metaverse as industries increasingly begin to exchange 3D data.

Autodesk’s involvement in founding the Alliance for OpenUSD aligns with its vision for the metaverse, emphasizing universal interoperability through open standards and protocols. This commitment underscores Autodesk’s dedication to supporting its customers in designing and shaping a better world.6

Investing in the Metaverse with MESH ETF

Looking to invest in the Metaverse? The Evolve Metaverse ETF (MESH ETF), is Canada’s first metaverse ETF.

MESH ETF provides investors with an actively managed diversified portfolio of companies involved in the development of the metaverse. To learn more about MESH ETF, please click here:

Portfolio Strategy and Activity

For the month, Cisco Systems Inc made the largest contribution to the Fund, followed by Nvidia Corporation and Autodesk Inc. The largest detractors to performance for the month were Sea Ltd, followed by eXp World Holdings Inc and Coinbase Global Inc.


  1. Hutchinson, A., “Meta Launches Beta Test of Horizon Worlds on Mobile Devices,” SocialMediaToday, August 27, 2023;
  2. Royle, O. R., “Ralph Lauren’s CEO points to two key investment areas to attract Gen Z: The metaverse and sustainability,” Yahoo Finance, August 18, 2023;
  3. Bezmalinovic, T., “Meta’s first AR glasses are a costly endeavor,” MIXED Reality News, August 11, 2023;
  4. “Pixar, Adobe, Apple, Autodesk, and NVIDIA Form Alliance for OpenUSD to Drive Open Standards for 3D Content,” Autodesk, August 1, 2023;
  5. Lebaredian, R. & Kass, M., “Universal Scene Description as the Language of the Metaverse,” NVIDIA Developer News, Aug 09, 2022;
  6. “Pixar, Adobe, Apple, Autodesk, and NVIDIA Form Alliance for OpenUSD to Drive Open Standards for 3D Content,” Autodesk, August 1, 2023;
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