Résumé
The metaverse is entering a phase of strong development. Small cryptocurrency projects, creators and games produce meta content and platforms alongside huge tech giants like Google and Facebook (Meta). As the trend gathers pace, tech giants whose platforms already complement the metaverse have launched their own developments. Google, for example, is taking a subtle approach that emphasizes augmented reality to connect the digital and real worlds.
Meta, formerly known as Facebook, has moved in the opposite direction and made clear strides towards the metaverse. This includes its name change with great fanfare. The company already owns essential VR hardware and has its Libra cryptocurrency project.
Microsoft is focusing on virtual desktops and work environments in the metaverse. Businesses will create persistent virtual spaces where their employees can work and collaborate more effectively than with standard video calls.
Although Binance is not actively expanding into the metaverse, it provides essential crypto infrastructure. For example, Binance's NFT marketplace unites buyers and sellers of digital assets from across metaverses. Binance also offers liquid markets on which metaverse tokens can be traded.
Epic Games has two main metaverse strategies. First, it seeks to improve its user experience base and technology to attract more players. He also wants to help creators create professional 3D assets for the metaverse.
Chinese company Tencent is one of the world's largest video game publishers and messaging service providers. They have publicly mentioned that they are focusing on the game as an entry point into the metaverse with their already existing technology.
Introduction
Building the metaverse is going to take time and energy. But who develops the infrastructure they need? One of the benefits of the Metaverse is that it cannot be created by a single entity. It is a combination of several aspects of life, work and leisure. Small teams are on the same page as large global companies, and anyone can help build the metaverse. Binance Academy has covered smaller cryptocurrency metaverse projects before, but here we'll take a look at some of the biggest players in the tech industry.
How do we build the metaverse?
Before we dive into each company's activities, let's define what we mean by "building the metaverse." If you want to explore the topic in more detail, read our What is the Metaverse? guide. . Building the metaverse is a similar concept to building the Internet. We need to expand both the content and the technology we use to connect. You can create an interactive play-to-earn game, a virtual goods marketplace, or a method for using interoperable platforms. There are a lot of possibilities to explore.
Why are companies interested in building the metaverse?
Many of the companies we'll mention already have state-of-the-art platforms in key areas of the metaverse. Tencent owns WeChat, Meta owns Facebook and Instagram, and Epic Games owns Fortnite, to name a few. It seems likely that these platforms are involved in the metaverse in some way, which is why it makes sense for companies to develop metaverse solutions themselves.
We have also seen great success in cryptocurrency metaverse projects in terms of innovation and revenue. Projects like Axie Infinity, Decentraland, and Roblox have inspired a new generation of developers and major global companies. Start-ups and tech companies are now racing to develop the latest big tech trends. Let's take a look at some of the biggest ones and what we can expect.
In an interview with Bloomberg, Google CEO Sundar Pichai explained his vision of the metaverse as “evolving computing in an immersive way with augmented reality.” In fact, Google already has a lot of experience in augmented reality with its Google Glass product. In November 2021, Google also reorganized its VR and AR departments into a new Google Labs team that includes holographic video conferencing tool Project Starline.
At Google, there is currently more emphasis on connection through augmented avatars combining the digital and physical world. While we haven't seen a solid metaverse proposal from Google, the foundations are there.
Facebook (Meta)
Facebook has clearly been one of the most vocal about developing large-scale metaverses. The company even changed its name to Meta, showing its seriousness on the subject, with its Facebook, Instagram and Oculus VR brands. It is evident that Meta already owns many key elements of the Metaverse. On a smaller scale, we can already see some of their metaverse developments:
1. VR Messaging: Important in helping connect users in an immersive way.
2. Project Cambria: a VR headset compatible with the Oculus Quest VR world.
3. Horizon Marketplace: A place where buyers, sellers and creators can exchange digital goods.
CEO Mark Zuckerberg has already noted the importance of non-fungible tokens (NFTs), cryptocurrencies and blockchains in the metaverse. With the Libra project also underway, it is likely that it will also be integrated into Meta's future.
Microsoft
Microsoft's main proposal for the metaverse is its release of Mesh software for Teams in 2022. It is a direct result of the remote working trend that grew stronger during the pandemic, as well as the new metaverse frenzy. The software will be available on standard devices and VR headsets to create a persistent virtual desktop experience.
The key to the Mesh for Teams experience is creating a virtual avatar that acts as your digital identity. You can then use this avatar to explore virtual areas and spaces in the digital world, an important aspect of any metaverse.
Binance
Binance has a vital role in the metaverse due to the importance of cryptocurrencies and blockchain. The metaverse enables the creation of new financial systems and processes, and Binance helps provide the necessary infrastructure. For example, NFT marketplace Binance allows buyers and sellers to trade virtual asset NFTs from multiple blockchains. This helps improve interoperability between different metaverse ecosystems.
The Binance exchange also offers a wide selection of metaverse token pairs. Creating liquid markets for the metaverse helps support the growth of the industry. To start trading metaverse tokens, follow our Binance Beginner's Guide to creating your own account and buying your first crypto.
Epic Games
Epic Games arguably has one of the most developed metaverse platforms today: Fortnite. What started as just a game has grown into a massive social platform and virtual world with over 350 million players. Virtual events leverage various celebrities, brands and partnerships for award ceremonies and concerts.
Epic has two main goals when it comes to the metaverse. He first wants to expand Fortnite to a platform capable of attracting and supporting more than 60 million monthly users. Epic also wants to make “3D, AR, and VR content more accessible and grow the creator ecosystem, which is essential for an open and interconnected metaverse.” This will allow anyone to create professional 3D content and help improve the quality of the metaverse experience.
Tencent
Tencent is one of the world's largest video game providers and also owns the Chinese social media and messaging platforms WeChat and Tencent QQ. These two areas are essential to the development of the metaverse. For example, Tencent's QQ already offers gaming, e-commerce, music, movies and voice chat features within its web portal. WeChat offers a mobile payment application that can be linked to its social media platforms.
During a presentation to shareholders, Tencent executives raised the importance of their gaming infrastructure in metaverse development. Tencent already has plenty of working apps and projects to use. He plans to launch gamification into the metaverse and leverage his experience in the industry.
However, Tencent has publicly emphasized the importance of VR hardware less than others. Instead, he's more interested in software solutions to increase a player's involvement in the metaverse. This is part of its stake in Epic Games, producers of Fortnite, and Riot Games, publisher of League of Legends. For these reasons, Tencent will likely use video games as an entry into the metaverse.
To conclude
The race to develop the metaverse is already on. But unlike other technologies, there is plenty of space in the metaverse to innovate without worrying about competition. After the success of cryptocurrencies and metaverses, giants like Google and Meta (Facebook) are already looking to integrate them into their plans. This is where we could see direct competition between companies with big budgets and small cryptocurrency teams. Whoever “wins,” innovation and development should be rapid.