The 5 Global Companies Building Up On Metaverse

ChukwuEbuka

Published in

Coinmonks

5 min readJun 28, 2022

One of the elements of the metaverse is its inability to be built by a single entity.

It includes many aspects of life, work, and recreation.

Because small teams and large international companies use the same stage, anyone can contribute to the metaverse’s building.

In this article, we’ll look at some of the biggest personalities in the tech industry who are helping to build the metaverse.

How exactly are we building the metaverse?

I will explain building the metaverse to better understand what each company is doing.

Similar to how the internet was developed, the same way the metaverse was built.

There is a need to improve the technology we use to connect as well as the content we produce.

You might design a play-to-earn interactive game, a virtual products market, or a way to enable platforms that can communicate with one another.

Everyone has access to a massive collection of opportunities.

Why is building the metaverse important to companies?

The companies I list in this article already have market-leading platforms in place.

WeChat from Tencent, Facebook and Instagram from Meta, and Fortnite from Epic Games are just a few examples.

It seems likely that these platforms will engage with the metaverse in some capacity; it is logical for the companies to develop their metaverse-related products.

The invention and financial success of metaverse crypto projects have also been quite encouraging.

Roblox, Decentraland, and Axie Infinity are a few of the projects that have inspired both huge international corporations and a new generation of creators.

Currently, startups and tech companies are vying with one another to create the newest trend.

1. Google

Google CEO Sundar Pichai described the metaverse as “developing computers in an immersive way with augmented reality” in an interview with Bloomberg.

With its Google Glass device, they already have much experience with augmented reality.

The holographic video-conferencing application Project Starline is part of the new Google Labs division that was built in November 2021 when it reorganized its VR and AR departments.

Currently, Google is more interested in connecting us through augmented avatars that can merge the virtual and the real world.

The groundwork appears to be there, even though we haven’t seen a convincing metaverse proposal from Google.

2. Facebook (Meta)

Considering the extensive development of the metaverse, Facebook has undoubtedly been the loudest.

With Facebook, Instagram, and Oculus VR all falling under the brand, the company even changed its name to Meta to demonstrate how serious it is about the matter.

Facebook controls a vast number of the essential elements of the metaverse as we can already observe some of their developments on a smaller scale like;

VR messaging is crucial for creating interactive connections between users.
Project Cambria is a VR headset interoperable with the Oculus Quest virtual reality environment.
Horizon Marketplace is a place where buyers, sellers, and creators transact digital products.

CEO Mark Zuckerberg has already mentioned the relevance of non-fungible tokens (NFTs), cryptocurrencies, and blockchains in the metaverse.

We might also see this applied to Meta’s future given that its Libra project is now in progress.

3. Microsoft

Microsoft’s Mesh for Teams software, which will be available in 2022, is the company’s main metaverse offering.

It is a direct result of the new metaverse excitement as well as the work-from-home tendency that became more popular during the pandemic.

To provide a lasting virtual office experience, the software will be accessible on both conventional devices and VR headsets.

The creation of a virtual avatar that will serve as your digital identity is essential to the Mesh for Teams experience.

An essential component of any metaverse is the ability to explore virtual places and locations using an avatar.

4. Epic Games

Epic Games created Fortnite, one of the advanced metaverse platforms that have grown into a sizable social network and virtual environment, with over 350 million people now participating in what was once just a game.

Celebrities, brands, and alliances for award shows and concerts can all be found at its virtual events.

Examining the metaverse, Epic has two primary motives.

First, it aims to grow Fortnite into a system that can draw and accommodate more people than the 60 million monthly users.

Additionally, Epic aims to “ensure the accessibility of 3D, AR, VR content and improve the creator ecosystem, which is essential to an open and connected Metaverse.”

This will make it feasible for everyone to produce professional 3D content and enhance the metaverse experience.

5. Tencent

Aside from owning the Chinese social networks and messaging services WeChat and Tencent QQ, they are one of the biggest global producers of video games.

The evolution of the metaverse depends on both of these areas.

For instance, Tencent QQ already included gaming, e-commerce, music, movies, and voice chat features all in one online platform.

WeChat offers a mobile payment app that can connect to its social media networks.

Tencent executives cited the value of their gaming infrastructure in the growth of the metaverse during an earnings call.

Tencent already has a large number of projects and applications in use.

They intend to lead the way in gamification in the metaverse and make use of their professional experiences.

Conclusion

The race to build the metaverse has already begun.

The metaverse, however, offers plenty of room for innovation without conflict, in contrast to previous technologies.

Giants like Google and Meta (Facebook), who have experienced success with cryptocurrencies and the metaverse, are already working to incorporate it into their strategies.

However, this is where companies with big budgets and small crypto teams might engage in direct rivalry.

No matter who is leading the metaverse race, innovation and development will surely improve over time.

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