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The Metaverse is entering a heavy development stage. Smaller crypto projects, creators, and games are producing content and meta-platforms alongside giant tech giants like Google and Facebook (Meta). As the trend picks up, tech giants with platforms that already complement the Metaverse are starting to develop their own. For example, Google has taken a nuanced approach with an emphasis on augmented reality to connect the digital and physical worlds.
Top Companies Associated With The Metaverse
• Meta, formerly known as Facebook, has gone in the opposite direction, making a clear move toward the Metaverse. This includes any publicly announced name changes. The company already owns the essential VR hardware and has the Libra project underway.
• Microsoft is focused on virtual offices and working environments in the Metaverse. Companies can create a permanent virtual space for their employees, allowing them to collaborate on a deeper level than standard video calls.
• Binance is not actively developing the Metaverse, but it does provide essential cryptocurrency infrastructure. For example, the Binance NFT Marketplace connects buyers and sellers of digital metaverse assets. Binance also provides a liquid market for trading Metaverse tokens.
• Epic Games‘ metaverse strategy can be broadly divided into two. First, we are looking at improving the user experience infrastructure and technology to support more players. We also want to help creators create professional 3D assets for the metaverse.
• China’s Tencent is one of the world’s largest game publishers and messaging service providers. It has already declared that it will focus on games as an entrance to the metaverse with existing technology.
Why would a company be interested in building a metaverse?
Many of these companies already have advanced platforms in key metaverse areas. Tencent has WeChat, Meta has Facebook and Instagram, Epic Games has Fortnite, and the list goes on and on. These platforms are likely to be involved in the metaverse in some way, so I think it makes sense for each company to develop its metaverse solution.
It has also been confirmed that the cryptocurrency metaverse project has achieved great success in terms of innovation and revenue. Projects such as Axie Infinity, Decentraland, and Roblox are inspiring a new generation of developers and global giants. Startups and tech companies are now in a race to develop the latest Big Tech trends.
The race to develop the Metaverse has already begun. But unlike other technologies, the metaverse has a lot of space for innovation without overlapping. After the success seen with cryptocurrencies and the metaverse, giants like Google and Meta (Facebook) are already considering incorporating it into their plans. However, we may see a direct competition here between companies with big budgets and small cryptocurrency teams. Whichever side “wins”, innovation and development will proceed rapidly.
Written by Daniele Paoletti