The Metaverse has been a hot topic of discussion recently. With the rapid development of technology, there’s no telling where this could lead to.
If you don’t know a lot about the Metaverse, this article is for you.
Here, we will be talking about what the Metaverse is, what companies are involved in its development, and what it could potentially lead to in the future.
What is Metaverse?
The term “Metaverse” was first coined by Neal Stevenson, an American author, in his 1992 science fiction novel, “Snow Crash.” In the book’s context, the Metaverse was a virtual place where characters could go to escape reality.
The Metaverse is a wide term that can have multiple definitions. However, on the most general level, the Metaverse refers to “a network of digital worlds that could include any combination of technologies from virtual reality to augmented reality to blockchain.”
Mark Zuckerberg, the founder and CEO of Facebook, even changed Facebook's name to Meta. In fact, he strongly believes that “mankind will migrate into the metaverse in the future, leaving reality behind for a world that we create and govern entirely.”
His statement is bold, to say the least, and is certainly up for debate.
Which companies are involved with the Metaverse?
Facebook/Meta were not the first big companies being involved in the Metaverse, however, they did make the biggest noise. The following are some companies that have been offering their knowledge, money, and resources (specifically VR gear):
The Metaverse is projected to greatly alter companies’ business operations and marketing strategies. It can offer new and exciting ways to conduct live events, create advertisements, and such. The following are some companies that have been building their virtual stores in the Metaverse:
"The Sandbox” is one if not the biggest player in the Metaverse.
“The Sandbox is an Ethereum-based decentralized NFT gaming metaverse that enables non-tech savvy users to create, sell, use, and monetize their own virtual reality NFTs.”
They also have multiple partnerships with companies in Hong Kong, including tycoon Adrian Cheng, alternative investing leader Sun Hung Kai & Co, professional services firm PwC Hong Kong, blockchain-related investment and asset management company TIMES CAPITAL, director/producer/actor Stephen Fung, international star Shu Qi, renowned musician Dough-Boy, game IP Little Fighter, and local illustrator Dreamergo.
What is the future of the Metaverse?
This is only the beginning stages of the Metaverse’s development. Needless to say, we can’t yet fully comprehend how it can affect us in the future. This new technology will certainly change the way businesses operate.