This AI-Powered Web3 Company Has Proven Itself As The Next Amazon With It’s First Revenue Project
Financial Gambits Special Report
In Revenue AI-powered OS set to change the web
What you are about to read is a summary on a leading-edge company called Verses Technologies. Verses has developed an AI powered spatial web3 OS, and one of their first use case, revenue generating, proof of work apps built on this platform optimizes supply chain logistics and warehousing efficiency. We know your time is valuable, but due to the ground-breaking and globally transformative nature of this company, We urge you to keep reading.
The Verses team created the underlying protocols that have been classified by the IEEE (which standardized Ethernet, Wi-Fi and Bluetooth, as well as electricity) as a Public Imperative. It is expected to be ratified as the global de facto standard for Web3/Spatial Computing within 18 months. As of right now, the working group on this consists of over 100 Fortune 500, Global 1000, government entities and thought leaders. Jay Samit, former Vice Chair of Deloitte and current Verses board member, had the following to say: “The impact of the Spatial Web will dwarf that of the Internet and change how we live, work and thrive.”
Every twenty years or so, a step-change in technology happens.
This is that moment.
On top of the protocols we just mentioned, Verses has built the first AI OS (with a multi-year head start) and is building the first “killer AI-powered apps.” The Verses OS will be open to third parties to develop their own apps in 2023, effectively making Verses the App Store for the Spatial Web – think Shopify for AI. They are already into revenue and the coming months will demonstrate just how big this will be. Interestingly for Verses, AI-powered drones will require a spatial governance system.
From A Small Acorn, An Oak Tree
One of the most frequent queries that come up when presenting Verses’ logistics solutions and the automation of warehouse operations with its Wayfinder application is, “aren’t most modern warehouses fully robotic, like Amazon?”
There is a great kernel in that question. 92% of global warehouses are not fully automated. It takes an 8-plus figure investment in one of an overabundance of robotics solutions to automate a warehouse, and even then, the full scope of ROI’s may not be known for up to half a decade. Additionally, such systems are siloed, walled gardens; closed loops that are not interoperable with other robotics systems, meaning that continued investment will need to be made to simply “keep up.”
Now, we want to share with you why we believe that Verses is on a similar trajectory to that of Amazon. Like Amazon, Verses is starting with one of the simplest things – moving boxes around warehouses more efficiently. Verses has attracted some of the biggest names in business. Verses’ first client was NRI, a warehouse group with 18 facilities in Canada and the US that does US$100M in annual sales and makes about US$8M per year. Verses has now deployed Wayfinder in all of their locations. The first warehouse took months to deploy, and they now have installation down to under a week. Between the improvements in picking and the AI reorganizing the slotting of products, they nearly doubled the efficiency of NRI’s warehouses, resulting in US$8M of annual savings and Verses is now receiving ~US$2.5M per year for their work, for a decade, because of the incredible impact they have made on NRI’s business. Further, in non-financial terms (and because people aren’t robots, though Verses’ tech applies to those, too), the employee satisfaction has gone way up. Both training time and turnover are lower, as well.
Is the "Spatial" web the next definition of Web 3.0?
There is a reason that over 100 companies are lined up to work with Verses, including many Fortune 500 and Global 1,000 companies. Verses cracked the code for logistics and, in our view, will be a key part of solving the world’s supply chain crisis. Based on the “Green Grass” of what Verses logistics is doing, this has incredible potential and we believe the next 6-12 months will demonstrate that potential as they convert pilots to contracts, and bring on integration partners and resellers who will begin to scale them to the equivalent of hundreds, then thousands of companies like NRI.
All that said, their aforementioned OS, COSM (the first AI OS) and the underlying open standard Spatial Web protocols they’ve invented go far beyond that. From a warehouse to a port, a factory, a city, a country, the technology and the spatialized, contextually aware capabilities of COSM could enable an entirely new era of next-generation intelligent applications. Once the implications of the Spatial Web and its protocols are understood, it becomes one of those “it’s so obvious” things, just as the internet, smartphones and all the other tech we now take for granted. The Spatial Web is just now coming into the vernacular, and we believe it is indeed the next big thing, the next era of computing. Like Amazon Web Service and cloud computing today, COSM and its context-aware computing capability is positioned to become the next big computing platform. This is the inflection point.
Beyond the Wayfinder application, there are multiple other apps Verses is developing for manufacturers and retailers, and even for smart cities. The “Blue Sky” however, as mentioned above, is that COSM is being built on the new Spatial Web protocols which are being standardized by the IEEE as the new global de facto standard for Web3 and Spatial Computing. The importance of this is it positions COSM as the default platform for Global 1000 corporations, international system integrators, and millions of software developers to develop AI-driven applications. Not merely because of the ability COSM enables to more easily add AI to applications, but also because the default interoperability features of the standards give them a leapfrog opportunity while guaranteeing future interoperability. We believe this gives Verses a good 5-year head start and will place them at the center of the market as the go-to platform for the development and deployment of smarter applications for everything.
Like Amazon, Verses is one of those uniquely positioned companies, at the right time and the right place. Like Bezos, the Verses team understood from the beginning the implications of the broader technology trends on the market, and like Bezos, they specifically selected a target market to disrupt to demonstrate this. But there was always more to the plan. There is an old saying, “the oak tree is in the acorn” – what this means is that the blueprint, the genetic design for an oak tree to grow to its full size and promise, is already inside of the acorn, and all that is needed is good soil and the right amount of sun and rain. That early Amazon acorn had a trillion-dollar oak tree in it, and we believe that Verses may as well. From humble beginnings to the operating system for everything.
FREE REPORT ON SMART INVESTING INTO OUR IN DEPTH LOGISTICS INDUSTRY
Investing on the NEO Exchange
Welcome to Verses where context is everything
If you are interested in learning more about Verses, please fill out the form below and we will forward you more information or contact us to speak in person.