7 Metaverse companies you should keep an eye on
The raving AI boom of 2023 has capped the hype for Metaverse tech. Many critics even wrote obituaries for Mark Zuckerberg’s idea of a virtual world. Amid this, you might wonder whether Metaverse is dead, and if not, then who are leading the Metaverse companies?
So to clear your doubts, here we have curated a list of seven leading Metaverse companies. The list has some big tech names that suggest the concept behind the virtual world isn't going anywhere anytime soon. So, let's get you started!
7 Metaverse companies you must know about
Here are the seven Metaverse companies you need to know about.
Meta Platforms Inc.
Meta Platforms Inc. became a global leader in the Metaverse industry when it rebranded itself in 2021. The name 'Meta' symbolises the company's focus on building a 3D virtual world. Meta's CEO, Mark Zukerberg's announcement of this shift spurred global hype for the idea of virtual worlds, and many businesses and tech giants started exploring it.
Meanwhile, the company has invested more than $36 billion into Metaverse-related projects. It focuses on developing advanced devices for augmented reality (AR) and virtual reality (VR). Also, Meta is creating a supporting environment for developers to experiment with new ideas.
The most impactful development towards creating immersive experiences is its AR/VR products like Meta Quest 2 and Meta Quest Pro. Plus, it has also introduced the Meta Horizon Worlds for 3D games.
Another leading name among Metaverse companies is Alphabet Inc., one of the largest tech businesses. It is Google's parent company, which began investing in AR/VR tech in 2014 with its Google Glass project. However, due to the lack of awareness about Metaverse back then, the project was not a success.
Nevertheless, Alphabet Inc. again started to invest heavily in related tech after the concept of Metaverse gained traction in 2021. According to some sources, Google has infused around $39.5 million to acquire numerous related projects. For instance, it acquired North, a smart glasses company, and Raxium, a microLED startup.
Alphabet has also started working on its Google Metaverse. Although it is unclear what this 3D world will be like, various projects in the pipeline hint at what it will feature. These projects include Project Iris, Starline, ARCore, and the integration of AR in various of its offerings.
Roblox is a leading online gaming platform where anyone can design their own games. The platform allows you to create your own virtual spaces and Metaverse games. You can also monetise your games by allowing others to play them and buy in-game accessories. Due to these features, Roblox makes an ideal platform for immersive experiences.
The gaming platform currently has more than 50 million daily active users. Besides, a community of around 9.5 million developers supports it, creating new experiences and shaping an immersive realm. That's why Roblox is a veteran among Metaverse companies.
Nvidia is another tech giant that recently made headlines as it crossed the $1 trillion mark. The firm is renowned for designing the fastest chips that support artificial intelligence (AI) computing systems. However, Nvidia has a strong foothold in the Metaverse industry, too.
In September 2022, the firm launched its unique infrastructure as a service called NVIDIA Omniverse Cloud. It is a cloud services suite for developers and creators that allows them to create 3D simulations. Many leading firms like PepsiCo, Siemens, Amazon, WPP, and others developed their own experiences using Omniverse.
Microsoft Corporation is yet another big contender among Metaverse companies. The firm is strategically working on building both AR/VR devices and immersive environments. Meanwhile, it has also acquired the gaming firm Activision Blizzard via a $70 billion deal which may allow it to develop 3D gaming experiences.
One of Microsoft’s breakthrough hardware is its Hololens series, which are Windows-based mixed-reality glasses. The company claims these glasses can enhance workers' productivity in many industries, including education, healthcare, manufacturing, and others.
Microsoft Mesh is another project that is another step towards developing interactive 3D simulations. It is blended with Microsoft Teams and allows for more engaging collaborations. It shows that the Microsoft Metaverse will specifically focus on designing a virtual world that offers interactive workspaces.
The American video game giant, Epic Games, is also looking to advance its Metaverse initiatives. The firm is renowned for its Fortnite game and Unreal Engine, which offers an infrastructure for game developers.
Epic Games invested more than $31.5 million in its 3D virtual world in 2022. The firms like Kirkbi, Sony Group Corporations, and others helped Epic Games raise this fund. According to its CEO Tim Sweeney, the firm plans to use it to create interactive spaces for players and offer developers a platform where they can be creative.
Apple Inc. needs no introduction as it is the largest tech company in the world, with a net worth of around $3 trillion. In the last couple of years, the company started to explore Metaverse by throwing its weight behind VR headset tech.
Interestingly, the company has even launched its VR goggles called Vision Pro at a time when the Metaverse hype has faded. Although Vision Pro has yet to be received well in the market, VR tech designed by Apple puts weightage behind this emerging tech.
Metaverse may not be as big a trend as in 2021, but it is gradually taking shape. Many Metaverse companies are investing heavily directly or indirectly in various related projects. These companies involve some of the big techs like Meta, Google, Apple, and Microsoft.
Various video gaming platforms like Epic Games and Roblox are also interested in creating 3D spaces. All these facts mean we are moving towards a world with both physical and digital realities.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.