Metaverse is taking over the social and gaming experience, but it doesn’t stop there as there are giants Companies Building the Metaverse. From Microsoft to Facebook the list is long and new names are entering the arena every day.
What is Metaverse?
Metaverse is a buzzword that you might have heard if you browse any social media platform or even keep an eye on the news. Metaverse is a virtual world to interact with digital virtual experience, except it lives on the blockchain. Developers and creators take the advantage of its exhibit art, make intriguing videos games and offer incredible social involvement. The metaverse market is growing apace to topple every competing idea along the way. As long as valuation is concerned, the metaverse has over $26 billion already in, and with more projects coming the number is likely to cross $40 billion later this year. The arena is so diverse, however, that many giant companies are diving into this ocean crypto-verse ones and zeroes. In this article, we’ll cover top tech companies that are building metaverse right now.
Top Companies Building the Metaverse:
- Facebook Meta:
On October 28, Facebook announced its rebranding to “Meta” referring to Metaverse. In an hour-long video, the social media platform revealed its long-term and short-term plans in the blockchain domain by promising to take social activities to a whole new level. Facebook aka Meta is a billion dollars company and one of the largest social media platforms with endless resources. It was expected that it will attract more people into the metaverse and will benefit those already in there – which it did pretty much well. The growth was insane: The Sandbox, one of the most famous and big names in Metaverse, rose more than 1100% in one month (October 26 to November 26) last year.
Everything was going fine until Meta revealed about the cryptocurrency project it will own. Analysts started predicting the failure of Meta proven right the day Meta revealed about falling numbers of Facebook users. This caused company to lose over $230 billion and Mark Zuckerberg alone confronted a loss of $29 billion.
Why this was a major failure is still debatable. Some analysts blame the Facebook failure, being a social media platform, as Facebook announced their active users are decreasing every day as they are engaging themselves in other video applications like TikTok. However, the factor of its entry into metaverse unprepared can not be negated. Many analysts warned investors the day ventured this idea. Actually, the whole idea of Facebook in Metaverse does not fix. Facebook has been in news for stealing users’ personal information for targeted ads while the concept of blockchain is security, decentralization stands for freedom, trustlessness, and anonymity.
Facebook’s experience of Meta is not a very good example to quote but the company is still a tech giant. Who knows Meta drops another collaboration with a good project like Axie Infinity and they succeed in there? Still, this is a wild guess and no one knows about it afore time.
- Apple
Apple shared a sneak peek of its entry to the metaverse and the world’s biggest tech company is all set to enter the blockchain world. Apple will probably drop its first AR/VR hardware this year however, a report from Bloomberg orates that it might get delayed until 2023. After Cook reveals the company’s interest in Metaverse, the stocks have spiked more than 5% since then. Apple (NASDAQ: AAPL) stocks were being traded 3% down at $159 and as the news broke the stocks spiked up to $167.23 adding more than 8%. Apple confirms that it has increased its share of Research and Development and investing already in the Metaverse and investing accordingly. Cook explained,
“We’re always exploring new and emerging technologies and this is an area that is very interesting to us. We have 14,000 ARKit apps on the App Store, which provide incredible AR experiences for millions of people today. We see a lot of potential in this space and are investing accordingly.”
Having said that, Apple is a giant tech company with limitless resources. Joining metaverse will not only open a lead of opportunities for Apple but it will largely impact the projects already in the arena.
- Walmart
Hypermarket Walmart has plans to venture into the Blockchain world to trade virtual goods and rule over this virtual world too – as claimed by the US patent office. Walmart’s filing to get a patent for metaverse shows that this giant company will be offering numerous services like NFTs, virtual goods and it has plans to launch its very own cryptocurrency. From electronics, home decoration pieces, sports goods, toys, and whatnot – Walmart is coming with huge options to sell on metaverse. Walmart Cryptocurrency and NFTs will be a new experiment and if succeeded it will be followed by many more.
Walmart, as we know, is a huge name and with its entry into the metaverse, the competition for other companies intensifies. Walmart will cause the community exposure to test the new ideas.
Google has been making some sneaky moves to enter this arena maybe before anyone else as it boosted acquisition in 2020. Though Google names it ‘Ambient Computing’, it does the same job as Metaverse nonetheless.
Other Big names in Metaverse:
Metaverse is expanding every day and more companies are testing their gets in the metaverse. The list does not end there. There are many others in the list as followings:
- Microsoft.
- Nvidia. …
- Unity Software. …
- Shopify. …
- Roblox. …
- Qualcomm.
- Amazon
- Alibaba
- Huawei
- Ferrari
- Tencent
Concluding Thoughts:
Blockchain games have already strengthened their place in the decentralized world and it will not be easy even for these companies to outperform complete ecosystems like Axie Infinity, Decentraland Mana, and The SandBox. However, the entry of these companies is benefitting these already existing projects. These companies make headlines globally so the projects are already into Metaverse spike. Also, these companies will bring their community along further enriching the virtual world.
There is a dire need to learn from the experiences of Apples’ success and Meta’s failure before stepping into it. Grave incidents like rapes have been happening in Metaverse. Not only it should be focused to build a successful virtual world but also people should be taught to display decent comportments.