Both private crypto initiatives and large public corporations are investigating the potential of the metaverse, indicating the beginning of a new age for the Internet. Some businesses have jumped headfirst into the metaverse, while others have dithered despite the clear applicability of their technology. For the metaverse to become a reality, businesses must specialize in areas such as immersive hardware, 3D, interactive platforms, connectivity, blockchain, semiconductors, and security.
The metaverse is a digital environment that is both modern and complex, a virtual space where people may interact, converse, and engage with one another and digital items in real-time.
Users can interact with others, develop important connections, and even earn real-world rewards through multiple virtual economies in this digital realm. As technology progresses and more organizations engage in metaverse-related technologies, this concept is becoming an increasingly important aspect of conversations about the internet’s and digital interactions’ future.
Users can explore huge landscapes, create and modify models, engage in various activities, attend events, play games, shop, work, and conduct business in the metaverse, all inside a shared and interconnected virtual environment.
Why invest in the metaverse?
The metaverse has grown in popularity in a short period. The recent relaunch of Facebook as Meta may have solidified the metaverse as more than an ongoing trend. Aside from cryptocurrency projects, numerous big companies have begun to identify the metaverse as the next stage of Internet evolution.
Throughout its existence, the Internet has experienced several significant developments, including Web1, Web2, and Web3. The initial iteration of the Internet consisted primarily of static sites that could simply display information. Users now have access to social media platforms and dynamic websites that allow them to change their data and contribute their material in the Web2 age.
We are currently anticipating the arrival of Web3, which could lead to changes in the metaverse. Web3 will consist of increasingly open, networked, intelligent websites and online apps that will provide people with greater ownership and control over their data, and content. As a result, Web3 may weaken the current strength of huge, centralized Web2 firms.
Web3, like the metaverse, does not yet exist. Some of its essential technologies, however, do. Blockchain and cryptocurrency, for example, might introduce decentralization and digital economies to Web3.
Furthermore, virtual reality (VR) and augmented reality (AR) have the potential to improve online social interactions on Web3 platforms. Simultaneously, due to its capacity to link human-created content to machine-readable data, artificial intelligence (AI) could improve language processing (such as for customer care bots) on Web3.
How are major companies investing in the metaverse?
It’s important to note that the landscape might have changed since then, as the metaverse concept continues to evolve rapidly. Here are some common ways major companies were investing in the metaverse:
- Companies like Meta Platforms (formerly Facebook), Microsoft, Google, and Apple were investing in VR and AR technologies to create immersive experiences within the metaverse. VR headsets and AR glasses were being developed to offer users more engaging and interactive virtual experiences.
- Some companies were creating virtual worlds and online platforms where users could socialize, work, play, and explore. For example, Roblox and Fortnite provided virtual environments where users could create and interact with content and experiences.
- In the metaverse, digital goods and assets hold significant value. Companies were investing in the creation and sale of virtual goods, such as skins, accessories, and in-game items. Virtual currencies and NFTs (Non-Fungible Tokens) were being used to facilitate ownership and trading of these digital assets.
- Technology companies like Unity Technologies and Epic Games were providing game engines and development tools that enable developers to build and deploy metaverse experiences more efficiently.
- Entertainment groups had been exploring the metaverse as a brand new manner to interact with audiences. Film studios, music labels, and content creators were experimenting with virtual events and experiences to reach wider audiences and create interactive entertainment.
- Companies were investing in virtual meeting spaces and collaboration tools to facilitate remote work and business interactions in the metaverse.
- Brands were looking into advertising opportunities within the metaverse to connect with their target audiences in novel and engaging ways.
The different layers of metaverse investment
The most popular products of the moment are multimedia in nature. Virtual reality (VR) headsets are usually the only hardware we consider for the future metaverse. The metaverse might gain a sensorial dimension, though, with the help of immersive hardware. For example, if haptic gadgets come to fruition, they could give people a tangible link to the digital realm.
Media for making 3D models
It can be challenging and time-consuming to design digital worlds that look and feel like the real world. These problems may, however, be solvable with the help of 3D construction tools and 3D cameras.
The first step in creating 3D spatial data for software was for developers to take photographs of natural landscapes. The processed and generated digital duplicate would serve as the user’s anchor in the metaverse.
Web2 users can do things like add products to shopping carts and navigate between pages with the click of a mouse thanks to the inclusion of interactive features. In a similar vein, users can’t do much in the metaverse unless they have access to native interactive tools and surroundings. Interactive platforms would make this possible and would also increase participation in the metaverse.
Fast connections have always been crucial since the beginning of the Internet. Fast connections are essential in the metaverse if its users are to collaborate, socialize, and interact in real-time. Seamless interaction also requires 3D rendering capabilities on computers.
The blockchain could eventually serve as the underlying structure of the metaverse. It makes possible a distributed and open system for proving ownership, determining collectibility, and enforcing rules in the digital realm. It also helps with usability and compatibility.
Additionally, individuals can send and receive value while engaging in metaverse-based labour and communication thanks to the blockchain technology upon which cryptocurrencies are based. Additional blockchain uses for the metaverse include decentralized financing (DeFi) and non-fungible tokens (NFTs).
To power the metaverse, we’ll need more powerful computers, which in turn will demand improvements in semiconductor technology. Because the metaverse will produce so much data, improved semiconductors are also required.
Many people in the metaverse will want to maintain privacy and make sure their personal information, bank details, and other sensitive data don’t fall into the wrong hands; therefore, the metaverse will collect a massive amount of data from its users. Therefore, metaverse solutions for cyber security will be required.
What companies have stock in the Metaverse?
Unity Software invented the technology used to create half of all 3D content today, making it the industry leader. That’s why it makes sense for Unity Software to have a hand in making metaverse content.
One of the most popular online marketplaces is Shopify. Its current software offerings help e-commerce businesses with things like payments, analytics, and fulfilling customer orders. Because of this, it can affect business dealings in the metaverse. Shopify’s shop already supports NFT sales thanks to its beta version of the NFT platform. It also offers a token-gated e-commerce platform that clients can utilize to interact with their audiences and boost their income.
Meta Platforms, Inc.
Since changing its name from Facebook, the company has spent billions on creating metaverse content, software, and immersive and virtual reality headgear.
Match Group, Inc.
Tinder and Hinge, two of the most well-known dating applications, are both owned by the same business, Match Group. By acquiring Hyperconnect, a pioneer in South Korean social discovery and video technology, in 2021, it aimed to open up new digital channels via which people might make and maintain connections beyond geographic and linguistic boundaries.
CrowdStrike Holdings is a cloud-delivered security provider that potentially fits the metaverse’s requirements for cyber protection.
Despite not yet existing, the metaverse is a popular issue in the technology sector, attracting investments from a wide range of companies. Since Web3 can decentralize power from huge Web2 companies to the people, it may attract investment from new enterprises, public businesses, and even individual investors.