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7 Global Companies Building the Metaverse

As the metaverse continues to evolve, we see more content and platforms being created by both small crypto projects and giant tech giants like Google and Facebook. These companies are beginning to realize the potential of the metaverse and invest in their own development efforts. Google, for example, takes a nuanced approach that emphasizes augmented reality to connect the digital and real worlds.

Meta, now known as Facebook, is entering the metaverse. This includes a general renaming and a change of direction for the company. They own VR hardware and continue the cryptocurrency Libra project. Microsoft is also focusing on virtual offices and work environments in the metaverse. Unlike standard video call collaboration, companies will create permanent virtual spaces for employees to work together in this new world.

Epic Games has two different approaches to the metaverse. To start, it aims to create a better user experience and technological foundation to accommodate more players. It also wants to assist creators in producing high-quality 3D assets for the metaverse.

Tencent is a Chinese company that is one of the largest video game publishers and messaging service providers in the world. They have made it clear that with their existing technology already implemented, gaming serves as an entry point into the metaverse.


Top Global Companies Building the Metaverse

  • Amazon
  • IBM
  • Google
  • Facebook
  • Microsoft
  • Tencent
  • Apple

1.Amazon

Although Amazon does not have plans to create its own metaverse, it is focusing on making its existing products more metaverse-ready. For instance, the company’s Office 365 suite now includes a virtual reality application called Immersive Reader, which allows users to view documents in a three-dimensional space.

Amazon is also concentrating on how its metadata storage can be utilized for business purposes. The company’s Shot platform enables users to create avatars that can be used in virtual meetings and conferences. Furthermore, Amazon’s AWS cloud computing service is being used by some metaverse developers to power their creations.


2.IBM

IBM, a global technology giant, has been delving into virtual reality technology for many years and is now concentrating on the metaverse’s potential for business applications.

The company’s Ava platform offers the capability for users to craft avatars for use in virtual gatherings and conferences. Additionally, IBM’s Watson AI service is being utilized by certain metaverse developers to enhance their projects, leveraging its advanced artificial intelligence capabilities to bring innovative solutions to the virtual world.


3.Google

According to Google CEO Sundar Pichai, the metaverse represents “a computing environment that evolves in an immersive way through augmented reality.” Google, with its extensive experience in augmented reality, particularly highlighted by its Google Glass product, is well-positioned in this domain. In November 2021, Google reorganized its virtual reality (VR) and augmented reality (AR) departments into a new division called Google Labs, which also encompasses holographic technology, including the Project Starline video conferencing tool.

At present, Google’s focus appears to be on creating augmented avatars that bridge the digital and physical worlds, offering a blend of both realms. Although a specific proposal for a Google metaverse has not been disclosed, the groundwork seems to be underway, suggesting a future direction for the company in this innovative computing landscape.


4.Facebook

In May 2021, Facebook announced its rebranding to Meta, a name that more accurately reflects the company’s goal of “empowering people to build community and bring the world closer together.” Facebook has been involved in virtual reality since acquiring Oculus in 2014 and is currently focusing on developing its augmented reality (AR) platform, Spark AR.

Furthermore, Facebook is exploring the realm of digital currency with the development of Libra, aimed at facilitating the purchase of virtual goods and services within the metaverse. Although Libra is still under development, it signifies Facebook’s interest in integrating digital currency into the metaverse ecosystem.


5.Microsoft

While Microsoft doesn’t have any plans to build its own metaverse, it is working to make its existing products more metaverse-ready. For example, the company’s Office 365 suite now includes a virtual reality app called Immersive Reader, which allows users to view documents in a 3D environment.

Microsoft is also focusing on how the metaverse can be used for business. The company’s smash platform allows users to create avatars that can be used in virtual meetings and conferences. And Microsoft’s Azure cloud computing service is being used by some metaverse developers to power their creations.

6.Tencent

Tencent, one of the world’s largest video game publishers and the owner of the messaging app WeChat, has been actively developing its own version of the metaverse for several years, with notable advancements already made.

The metaverse initiative by Tencent is named WeChat Open World, launched in 2019. This platform enables users to craft 3D avatars and navigate virtual environments. Currently exclusive to China, there are plans to introduce WeChat Open World to additional markets.

The company’s headquarters are situated in Hangzhou, Zhejiang province. Tencent is recognized as the leading video game provider based on revenue and market share. It also owns significant Chinese social networks and messaging platforms, including WeChat and Tencent QQ, both pivotal for metaverse development. Tencent QQ integrates gaming, e-commerce, music, movies, and voice chat functionalities on its platform, while the WeChat payment app integrates mobile payments with social media platforms.

Furthermore, WeChat features a “mini-program” platform that allows external companies to develop and offer their applications to users without necessitating a download. These initiatives by Tencent exemplify the convergence of physical and virtual worlds, facilitating a seamless transition for users between these two realms.


7.Apple

Apple is among the select companies quietly developing a metaverse product. With numerous patents filed in the areas of virtual reality (VR) and augmented reality (AR), there’s speculation that Apple is crafting its own metaverse platform.

Moreover, Apple’s recruitment of experts in virtual worlds and avatars underscores its commitment to launching a metaverse product. These strategic hires indicate the company’s dedication to entering the burgeoning field of immersive digital environments.


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