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- 1 Metaverse provides an immersive digital environment for businesses to flourish.
- 2 Famous companies like Meta, Apple, and Microsoft are seriously experimenting with metaverse.
Metaverse is among the top hot topics in tech circles. Many companies and startups are seeking to use the metaverse to enhance and transform their businesses. Metaverse can undoubtedly enhance both business to busines and business to customer interaction in the digital world.
Meta
Meta is focused on the Metaverse despite facing losses in billions of dollars due to this initiative. Mark Zuckerberg said that the company is working on both of the 2 major priorities – AI and Metaverse.
AI and metaverse are expected to be complementary. The focus on the Metaverse hasn’t been profitable for social media giants. In 2022, Meta’s Facebook Reality Lab (FRL) division cost Metaverse $13.7 Billion whale generating a revenue of $2.2 Billion, up from the loss of $10.2 Billion on revenue of $2.3 Billion in 2021.
Epic Games
Tim Sweeney stated that the Metaverse is happening and Epic has a big part to play in it. The executive said that they are putting a lot of effort into the Metaverse at a time when much of the big tech attention to the idea has moved on to AI. Their single goal is building a persistent Metaverse space where the assets, technology and economy are all accessible to anybody.
Microsoft
Microsoft is inclined towards the Metaverse. The company is not only restricted to virtual reality but also every area of the Metaverse including augmented reality. To aid the factory floor production Kawasaki’s use of Microsoft’s Metaverse through Microsoft’s HoloLens headsets. The company supports both the consumer and industrial Metaverse. An announcement was made in 2022 that Microsoft and Meta are partnering to deliver immersive experiences for the future of work and play. According to Bloomberg Microsoft makes a $69 Billion down payment on the Metaverse.
Apple
The company is actively working on Metaverse. The Apple Vision Pro provides users with a way to experience a version of the Metaverse. The headset enables users to immerse themselves in virtual and augmented reality experiences.
It also facilitates individuals to access and experiment with content and apps in a more immersive format. The company is sincerely working on Metaverse-related technology. The headset which is pricey bridges the gap between the virtual environment and digitally enhanced real-world use.
Decentraland
Decentraland is developing Metaverse as a platform that allows users to create, trade, and monetize their digital content and virtual real estate properties. It is an Ethereum-based virtual world platform which is owned and governed by its users. It allows anyone to build and share a Metaverse.
Summary
Big companies are progressively investing and working on Metaverse. They are experiencing virtual and augmented reality and use it to practice things that give good business outcomes.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
