• 04-Apr-2022
  • Interesting facts

Metaverse: TOP companies building the digital world

The technology industry TOP giants are working on the digital virtual world of the metaverse. See what they have prepared for us.

Metaverse is currently one of the hottest topics in the technology industry. This digital world full of innovations will allow effective communication, adaptive interaction, and a new kind of entertainment for users. Originally, sci-fi writer Neal Stephenson came up with this concept in 1992 as a metaphoric combination of the real world, the Internet, and escape from reality. More than 170 companies are working on this vision when writing this article, trying to perpetuate this virtual world. But what exactly does it mean to build a metaverse? And which giants are involved in its development?

What is the metaverse?

The metaverse is not just a simple software we could put together using a standard development model. Instead, it is a complex digital environment based on several features and characteristics.

• Decentralization - Blockchain, artificial intelligence and other democratization tools.

• Infrastructure - Connectivity technologies such as 5G, Wi-Fi, cloud and hi-tech materials such as GPUs.

· Human interface - VR headset, AR glasses and other technologies used to connect to the metaverse.

• Spatial calculations - 3D visualization and modelling frameworks.

• Creator Economics - Assortment of design tools, digital assets and e-commerce devices.

• Discovery - interesting content supporting interaction, including ads, social media, ratings, reviews, etc.

• Experiences - VR equivalents of digital applications for gaming, events, work, shopping, etc.

Top 10 metaverse building companies

Meta (Facebook)

The technology giant has already invested $10 billion in developing devices that support augmented and virtual reality - devices such as robotic hands, high-tech Oculus VR glasses, or even software applications designed to enter the metaverse.

The company is also investing a lot of money and time in developing a new supercomputer that will power part of the metaverse with the computing power of several quintillions (1018) operations per second. Some analysts estimate that the prototypes could be launched within 2-5 years.

 

Google

The company already had some experience with augmented and virtual reality when it debuted in 2013 with its Google Glass AR. Later in 2016, the company continued to present the Daydream headset, but none of these glasses was successful in the market. Nevertheless, Google does not want to leave anything to chance to enter the metaverse. So, the company started hiring engineers to further develop their AR headset and operating system. Google has even hired a former CEO of Oculus to analyze their existing products and systems with potential proposals for customization and further research. "I am looking forward to the exciting innovations that the metaverse will bring. I've been waiting for this moment for 30 years," said Eric Schmidt, the former company's CEO.

Nvidia

It's no surprise that Nvidia is preparing to become a crucial part of the metaverse infrastructure. As one of the world's leading GPU developers, it is a technology giant that heavily contributes to the development of virtual worlds. The company is responsible for setting GPUs in computers, laptops, video game consoles, and many more and contributing to cryptocurrency mining.

Nvidia comes with its Omniverse, which provides the necessary tools for developers to turn their visions into reality in collaboration with artificial intelligence and supercomputers. The company plans to develop its digital avatars to help people present themselves in the metaverse.

Microsoft

Microsoft has a more business-oriented use of services in a metaverse called Mesh. Mesh enables collaboration and communication in the work environment using avatars and holograms. These holoportraits of colleagues will be displayed to anyone who uses devices supporting AR or VR. The Mesh system can be used on HoloLens2, VR headsets, mobile devices or computers with Mesh supporting applications. Microsoft will soon implement its avatars into Microsoft Teams as another way for virtual communication.

Apple

Apple's plans to work on the metaverse are no longer just speculation. During a quarterly meeting in early 2022, Tim Cook, CEO of Apple, told his investors: "We see great potential in the metaverse sector. Accordingly, we will invest appropriately in the industry." Currently, the company does not have its metaverse. Still, based on the statements, the primary purpose will be the expansion of Apple's AR/VR ecosystem in the gaming, communications, and consumer content (AppleTV) sectors. Apple is working on an advanced facility for VR, which should revolutionize the metaverse. Allegedly, this device will involve physical hand movements to improve interaction at virtual meetings. Morgan Stanley dares to say that mass adoption of the metaverse depends on Apple, as the smartphone and tablet markets did before.

Qualcomm

The company introduced its $100 million Snapdragon Metaverse fund, established to invest in innovative developers and companies specialized in augmented reality (XR). Snapdragon XR1 and XR2 are purpose-built to meet the specific requirements of today's augmented reality (AR) and virtual reality (VR) devices. Qualcomm has also cooperated with Microsoft to accelerate the adoption of AR in the consumer and corporate sectors and has opened an XR office in Europe. With these actions, Qualcomm wants to inspire and motivate other people to focus on the new version of the Internet.

Epic Games

The company, well-known for its hit Fortnite in the gaming industry, has always been connected with the virtual world. In 2020, Epic Games organized a virtual music concert with Travis Scott, where players could dance through avatars in outfits of their choice. In April last year, Epic set aside a $1 billion budget to support a long-term vision to enter the metaverse. This investment has paved the way for game developers to create digital worlds and alternative characters.

Decentraland

Decentraland was probably the first company that included the metaverse concept in its core competencies in 2017. It is one of the major "metaverse" companies that allow the purchase or sale of virtual land in this digital world - in the recent past, the price of land reached $2.4 million. Decentraland also creates a platform that provides space for producers and artists. Its other advantage is the marketplace, where users can buy various clothes or accessories for their avatars for MANA tokens issued by the company.

Roblox

As mentioned in the article "TOP companies in the metaverse" (link to second article- https://wexopay.com/en/blog/top-firmy), Roblox has established cooperation with various brands in recent months. Through them, Roblox wants to expand its operations in the metaverse, where players can interact in real-time.

Roblox has begun to focus on protecting its players, as concerns and scenarios of the Wild West behaviour and excessive violence are already emerging. Therefore, Roblox initiates the establishment of a safe social life that will prevent platform abuse.

Unity software

The company entered the market in 2005; most of the best mobile games were created using this platform. Unity supplies creators and artists with tools for developing 2D and 3D content, which is used in the metaverse. The platform also allows users to create interactive simulations for video games and animations for filmmaking, engineering, and other industries.

You will be a part, sooner or later

Even though we are still only on the doorstep of a virtual universe, hardly anybody doubts the metaverse adaptation in work, play, or commercial environments. As you may have read, the world's giants are building this digital environment, of which you will be a part, sooner or later. And you will be the central piece of the puzzle; as participants in this world, you will explore, create, and use digital assets. You will communicate in the workplace with colleagues from other countries, study the universe mysteries closely, train precise surgeries or enjoy concerts 2,000 km away with your friends. The world's largest companies are involved in building this world, but there are other giants from different industries who are already presenting themselves in the virtual world.

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