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Metaverse and 6 Giant Companies Working on Its Fundamentals

As we can see there are many metaverse projects in any size. All of them are building the metaverse and its future. The builders are in any size from small game companies, content creators to giant leaders such as Google and Facebook(Meta). As the developments in metaverse are speeding up, big companies like Google have started their own development in this new world.

Facebook, which is called Meta now, has taken big steps toward metaverse not just by changing its name but also with improvements in its technology while developing its own VR headsets.

Microsoft is developing its technology to make better virtual office and working environments in the Metaverse. These projects aim to create better virtual spaces for employees to feel better and experience more real life in this new virtual environments.

Binance as one of the biggest companies in crypto has made its own NFT platform to connect NFT creators and NFT buyers.

China’s Tencent as a large video game publisher has focused on gaming as the first step toward metaverse.

Epic Games is working on two metaverse strategies which are improving user experience to playing games and providing building 3D assets for metaverse.

 

Introduction

Metaverse is not going to happen without the fundamentals and huge developments in technology. Also, it can’t be run by an entity. It needs lots of connections and work to provide changes in all aspects of life such as working and playing. But some companies as mentioned above have a main role since they have new technologies and their vast fundamentals.

 

Who are the metaverse builders?

First let’s explain what is building the metaverse. Building the metaverse is like creating the internet. Building the metaverse needs both technology and content. There is a vast possibility for everyone to enter the metaverse world even with making a virtual goods marketplace.

 

Why are companies tending to work on metaverse?

Many companies we mentioned above have projects in metaverse so it is normal for them to work on building metaverse themselves. Startups and tech companies are now in a race to develop big tech’s latest trend. Let’s look at some of the biggest companies.

 

Google

Google has its own metaverse product which is Google Glass. It is a product for augmented reality. In 2021 Google recognized its VR and AR departments into a new Google Lab team that includes holographic video conferencing tool Project Starline.

 

Meta (previously Facebook)

Meta was the loudest sound in 2021 and it showed its great goals by changing its name. it is obvious that Meta has ownership of many of the metaverse’s key elements. The Meta’s smaller scale metaverse projects are:

  1. VR messaging
  2. Project Cambria
  3. Horizon Marketplace

 

Microsoft

The idea of the virtual work space grows faster due to  the pandemic and Microsoft has its own project called Mesh for Team software which is going to be released in 2022. The software will be available on standard devices and VR headsets. The main point for Mesh for Team is making more developed avatars to make a better experience for users.

 

Binance

Binance has a main role in cryptocurrency and NFTs in the metaverse. Binance is working on cryptocurrency and NFT fundamentals as well these items are the basics of trading in the metaverse.

 

Epic Games

Epic Games has one of the most developed metaverse projects, Fortnite which is now a social platform and virtual world with 350 million players. Epics has two goals for the metaverse; the first one is developing Fortnite to make it more capable for new players. Epic Game’s second goal is creating 3D VR and AR content for others to improve the quality of metaverse experience.

 

Tencent

Tencent executives think their gaming infrastructure in the metaverse is important. Tecncent plans to pioneer gamification in the metaverse and leverage its experience in the industry.

However, Tencent generally places less emphasis on the importance of VR hardware than others. Instead, it looks for software solutions to increase player participation in the Metaverse. This is related to their shares in Epic Games, the maker of Fortnite, and Riot Games, the publisher of League of Legends. For these reasons, Tencent is likely to use video games as its base in the Metaverse.

 

Bottom line

Bottom line is Competition for the development of Metaverse is now on the way. But unlike other technologies, Metaverse has plenty of space for innovations. Following the success of Crypto and Metaverse, giants such as Google and Meta (Facebook) are now looking to incorporate it into their applications. But here’s where we might see direct competition between high-budget companies and small crypto teams. No matter who “wins”, innovation and development are likely to be rapid.

 

Source: academy.binance.com

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