Currently, Metaverse has turned into the most sought-after destination for tech companies. Start reading to keep yourself up-to-date on the latest advancements!
What is the Metaverse?
The easiest way to understand how the Metaverse is going to work has already been shown in the movie “ Avatar”. The idea of creating a new online space where the interaction between people can be multidimensional.
In the Metaverse, users can immerse themselves in digital environments with the help of VR interfaces as avatars to interact with others and not just be viewers.
Metaverse finds a lot of footing with users in the gaming world, in which users can walk around in character and interact with other players.
To put it simply, Metaverse provides an extension of the internet for anyone looking to create experiences. So, what businesses across the world are influenced by this marvel technology?
Let’s head right there.
Companies influencing the Metaverse
Technology is developing at a tremendous pace, something not seen ten years before, offering a plethora of services to humans.
Virtual reality is one of the technological advancements which has become the steering force of the Metaverse, enhancing our experience of the digital world. Tech-giants across the globe are investing heavily to make the Metaverse a reality.
Tech companies understand that building their own platforms will be the next stepping stone in building the metaverse. A lot of companies have already started creating their own tools to support platforms.
Let’s take a look!
Facebook, now renamed Meta, is one of the largest tech-giants making a lot of noise about massive developments in the Metaverse.
Their approach is to acquire smaller platforms that will later be their support systems for the further development of the Metaverse.
Under that idea, Meta has already purchased the following companies:
- VR Messaging: An application to help users be connected in an immersive manner.
- Project Cambria: Development of VR headset that will be compatible with the Oculus Quest VR world.
- Horizon Worlds: This is a marketplace where content creators can buy, sell or exchange their work.
Most people might think that Google is yet to step into the metaverse, but they are mistaken for that is not the truth.
Yes, you read it correctly. They have made their presence clear through their experience with augmented reality through Google Lens.
Much like Meta, Google has more or less assembled their products, consisting of VR and AR departments under the title of Google Labs. This is a team working on developing a Holographic video conferencing tool with the project named Starline.
Talking to someone through a hologram feels right out of a movie right?
Epic Games have the most developed Metaverse platform currently through their game: Fortnite.
The company started with a game and now has developed into a social media platform and a virtual world for their current players.
Wondering how many players are on the platform? Look no further; they have nearly 350 million players around the world subscribed to the platform.
Roblox is popular with younger children, nearly half of whom are 13 or less. They seem to attract users with many games on their platform, with the option of socializing and interacting with others.
Through their innovative games, Roblox has made it clear as day that they are here to stay to create spaces for young gamers. They aim to establish a better gaming and social experience even when users get older. The major challenge ahead for them is to keep their users from leaving their platform as they grow older for another game that might seem more popular at that point and time.
With the onset of the pandemic, people found themselves in a situation forcing them to work from home. Microsoft is looking to take this as an opportunity to make its foray into the metaverse with their primary offering of Mesh for their Teams Software, due out in 2022.
The software is set to be available on all VR headsets and standard devices that can create a virtual office experience. The idea is to use a digital avatar to act as your identity in the virtual world. This enables people to connect with each other irrespective of how far away they are from each other.
It’s a whole new experience waiting for us!
You might be wondering why a sports apparel company is on this list. Well, Adidas doesn’t think so.
They can be considered as one of the companies that are able to see a thriving market in the future through the metaverse.
The marketing team of Adidas has spent plenty of time planning the entry of the company into the Metaverse in collaboration with PUNKS Comic and Bored Ape Yacht Club. They plan to issue NFTs that can be bought on the ETH blockchain.
These NFTs, due to be issued in 2022, can be exchanged for the physical product in-store.
The Metaverse is still a futuristic concept and a digital universe, and it offers a set of benefits. With time, we can expect a wider range of functions that users in the digital world can access with the help of various interfaces.
An amazing application would be to bring together Medical Professionals on a virtual platform to treat patients. In this situation, distance is a limiting factor in diagnosing diseases at an early stage.
The metaverse is catching up so fast that people are beginning to get married on the platform. Recently a couple had their wedding reception in the Metaverse. The guests received the dinner in the comfort of their homes.
Not just weddings, the Metaverse found its taste for Music Concerts recently when Ariana Grande performed on Metaverse, gathering more than 12.3 million live viewers. That’s the dream of every performing artist around the world.
In their joint collaboration with PUNKS Comic and Bored Ape Yacht Club, let’s consider the case of the sports apparel company Adidas, which offers NFT holders exclusive access to in-virtual land and free collaborative merchandise in 2022. Apart from such access, users also receive items such as the graphic hoodie that are featured in the PUNKS Comic.
So, yes, definitely, there’s more to come into the world of Metaverse. Or will the world enter Metaverse soon? Time decides. Meanwhile, grab some coffee and catch up on interesting news and updates only on bitsCrunch!!
Want to check on what you have learned? Here is a five-question quiz. Click to check!