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Market Reality: Niantic & WaveOptics Locate More Funding for AR, Cheddar Spreads to Magic Leap, & Tesla Files AR Patent

Investors continue to bet on augmented reality, both for short-term returns and long-term plays. This week, Niantic reportedly picked up another round of funding from Samsung and others, based on the success of PokémonGO and the prospects for future revenue. Likewise, investors see value in WaveOptics, whose waveguide displays could make consumer smaller AR smartglasses possible within the next year.

News: Magic Leap & Sigur Rós Video Reveals Behind the Scenes Development of Tónandi Augmented Reality Music App

Now that the augmented reality cat is out of the bag, Magic Leap is beginning to open up a bit more about how of some of its work came together in the years and months leading up to the Magic Leap One's release earlier this month. On Wednesday, the company unveiled a behind the scenes video of how the ethereal music-meets-AR app Tónandi was produced in collaboration with Icelandic music group Sigur Rós.

Hands-on: Meta's New Meta Viewer App Is the AR Collaboration Tool All Those Sci-Fi Films Imagined

When you drive along the deceptively sedate streets of Silicon Valley, there are few hints that all those nondescript office parks and low-rise buildings contain the very future of the planet, but they really do. On a recent trip to tech's epicenter, I found that out firsthand when I got to visit the offices of Meta, the startup that produced the Meta 2 augmented reality headset.