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Business Insider IndiaMeta formerly Facebook is joined by many other companies planning to build their own metaverses.Meta
The metaverse is the latest buzzword that gained more interest after Facebook held an event dedicated to its future plans and renamed itself to ‘Meta’. While the metaverse discussions have been in the light for months, many global tech companies are now announcing their plans on their own metaverses.
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It may be easy to understand that Meta can create the metaverse but the possibilities are endless for this new internet world. It’s not just social media, but dating, gaming, collaboration, shopping, and a lot more can take place in the metaverse.
Here’s what metaverse means in simple words
The metaverse is broadly known as this immersive digital or virtual world where people interact with each other through their digital avatars. Here, people can socialise, shop, have immersive experiences, collaborate on projects, and more. There’s a new company almost every other day announcing their plans about the metaverse so let’s take a look at what exactly these companies have in mind.
Meta (Facebook)
Meta is probably the most invested in the metaverse right now. It defines the metaverse as “the next evolution of social connection.” Meta’s metaverse is going to be all 3D with digital avatars teleporting to different spaces, holograms, immersive gaming, and it will also feature crypto and NFTs. Meta will also create virtual homes known as ‘Horizon Home’ where you will be able to invite friends just like you do in real life. It’s kind of like Roblox but in a more immersive way.
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Horizon Home by Meta will let you invite friends to your virtual home just like you do in real life. Meta There’s also ‘Horizon Marketplace’ where people will be able to sell 3D digital items which will help creators and developers earn money. Meta will also create spaces for gaming, working, and exercising too. Not just that, you will also be able to do advanced learning in the metaverse like medical students practising how to use instruments. Meta already has Oculus VR headsets for virtual experiences, and it’s also working on AR glasses called ‘Nazaré’ for holograms.
Microsoft
Microsoft wants to make virtual meetings more immersive with the introduction of 3D avatars and interactive spaces on Teams. There’s Mesh for Microsoft Teams that will allow people in different physical locations to join collaborative and shared holographic experiences on Teams. Microsoft is also adding 3D avatars to Teams that will be able to take part in meetings when you don’t feel like turning the camera on.
Microsoft will let people socialise, collaborate and work with each other through immersive spaces in Teams.Microsoft Microsoft also plans on building metaverses within Teams which will be immersive spaces. Initially, Mesh for Teams will roll out with pre-built immersive spaces for meetings and social mixers. It will also let organisations build metaverses within Teams where these avatars can “mix and mingle, collaborate on projects and experience those serendipitous encounters that spark innovation.”
Tencent
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Chinese tech giant Tencent also has plans for the metaverse. The company talked about its visions for the metaverse in different areas like gaming where it could make multiple games under one common IP, an infrastructure for users to make games and different gaming experiences within one game. It’s also planning a more gamified social network, and user-operated communities like Discord but with video bots for a more immersive experience.
Roblox, Epic Games
Roblox already offers a somewhat metaverse-like world where players can interact with each other. The company wants to build on this functionality, and also offer activities that people can take part in with other players.
Marshmello's virtual concert in Fortnite.Fortnite Epic Games is also ahead in the metaverse race with its popular game Fortnite where players can purchase items from Balenciaga, watch concerts and more. The company secured a $1 billion funding earlier this year which it said would be used to work on its long-term vision for the metaverse.
Disney
Disney is also preparing to create its own metaverse through which it will create “unparalleled opportunities for consumers to experience everything Disney has to offer across our products and platforms, wherever the consumer may be.” Details are still not revealed yet but the company already provides immersive experiences through Disney Movies VR.
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Dating companies
Online dating is also another platform where the metaverse can really work. Tinder’s parent company Match Group announced earlier this month that it is planning to create a dating metaverse with avatar-based virtual experiences which will be available on its suite of dating apps. Bumble is also considering revamping its Bumble BFF platform by incorporating the metaverse along with blockchain technology and crypto.
As mentioned above, the possibilities of the metaverse are endless and cannot be constricted to one single platform. It will not only bring shared experiences for people within one company but also offer cross-platform experiences. This is only the start now and the groundwork has already been laid by companies like Epic Games and Snap but we’re looking at a full-fledged digital shared world that is expected to take years to complete.