As we step into a new era of borderless digital connectivity, the Metaverse offers users a chance to step into a ‘virtual world’ without any constraints. Currently, over 160+ Metaverse companies are working to harness the full potential of the Metaverse.
Since the Metaverse is an emerging technology, there are numerous opportunities available for companies to contribute to enhancing the virtual world. The Metaverse market size is expected to grow to up to $5 Trillion by the year 2030.
With large companies such as Meta and Microsoft committing themselves to create technologies that can help transform the virtual world, the future of the Metaverse seems very exciting.
What Is The Metaverse?
The Metaverse has been referred to as “the future of social media” by Mark Zuckerberg. It aims to provide users an opportunity to socialize, work, interact with engaging environments, shop, and explore virtual worlds. Virtual Reality (VR) and Augmented Reality (AR) play a major role in making the entire Metaverse experience immersive and interactive, which is why there are many companies such as Meta working on creating the best VR hardware for users.
There are several different metaverses currently being built by different companies, such as Decentraland, Sandbox, and the Pavia. Each metaverse provides its benefits such as 3D Creators, in-built marketplaces, the ability to host events, and much more!
What Is a Metaverse Company?
A metaverse company is a business that focuses on creating and managing virtual worlds, usually for the purpose of entertainment or education. These companies often develop the necessary software and hardware to make their virtual world accessible to users. In many cases, they also create and maintain the content within these digital environments.
For example, companies working on Metaverse can focus on developing VR hardware, creating new platforms, creating virtual marketplaces, establishing data security, creating 3D modeling tools, and much more!
The Metaverse is much more than just a space to interact with other users; Metaverse companies are endeavoring to establish a full-fledged virtual economy. Users can utilize ‘avatars’ to move around the Metaverse and explore different ‘virtual worlds.’
List of The 7 Best Metaverse Companies
Several companies are working within the Metaverse space to facilitate providing solutions for users. Here are some of the top ones:
1. Meta (Facebook Metaverse Company)
Formerly known as Facebook, Meta’s CEO Mark Zuckerberg announced their commitment toward “the future of social media” in October 2021. This metaverse company rebranded itself to ‘Meta’ to signify its strategic plan to create their own Metaverse to change the way users interact, work, play, and shop online.
The announcement generated massive awareness for 3D virtual worlds and many individuals and businesses began exploring the vast potential that this digital realm provides. Facebook has been planning this for quite a while, as demonstrated by their purchase of Oculus back in 2014.
The Meta company has now braced for some difficult years ahead as they focus on developing affordable headsets and an immersive virtual world. Amidst large losses, Mark Zuckerberg has stated that Meta will lose a lot more money before they’re able to complete everything they’ve aimed to do for the Metaverse.
Meta is definitely not the only Metaverse company working in this space, as they have plenty of competitors who have already made significant headway into the Metaverse space. For example, Sandbox company has already generated massive interest from users and celebrities alike.
There is also plenty of research being done within the hardware space, where Meta is working on robotic ‘skin’ that utilizes sensors to provide feedback to users when they interact within the Metaverse. This is a strong indicator of the incredible potential that this Metaverse company has to offer!
Microsoft is another tech giant that has set its eyes on leading the next digital revolution. With their focus on “mixed reality,” Microsoft aims to utilize its HoloLens to combine AR with real-life applications.
This has now been applied to several industrial use cases as well; for example, Kawasaki has now partnered with Microsoft to utilize their industrial Metaverse to allow factory workers to utilize HoloLens to help build robots and manage supply chains.
Microsoft launched its HoloLens back in 2016, which helps users experience AR in real-world settings. The concept of industrial metaverses is relatively new. It is still evolving, but with the HoloLens, factory workers can interact through visual cues to perform tasks such as repairs and more.
Microsoft also recently acquired Activision Blizzard for around $70 billion, with Microsoft CEO Satya Nadella stating that Activision Blizzard will help Microsoft build their Metaverse. Activision Blizzard has released some iconic games over the years, such as Call of Duty, Diablo, Candy Crush, Warcraft, and many more.
3. Decentraland (Metaverse Platform)
Decentraland is a Metaverse platform that provides users with access to tools to shape their virtual experiences. The platform is decentralized, which means that no user data is held by third parties. Users create their own customized avatars, which allow them to explore the different landscapes that this platform has to offer.
Decentraland has also gained recent popularity due to celebrities such as Paris Hilton performing in festivals within the virtual space. The community-led platform allows users to purchase virtual ‘land’ to shape their own experiences.
Users can host parties, rent out spaces, build skyscrapers, and more! Decentraland utilizes ‘MANA’ as its in-game currency, which can be traded out for other forms of virtual currency on crypto exchanges.
Decentraland also offers an in-built marketplace where users can list their creations and sell them to earn money. It is also widely known for its valuable virtual real estate. Real estate in the Metaverse is gaining a lot of popularity amongst investors, with land in Decentraland being sold for as high as $3.5 million.
NVIDIA is a very prominent company within the gaming industry, widely known for its graphical processing units. However, the company has also been making big waves in the Metaverse market by gearing up to make a tool to facilitate 3D creations.
NVIDIA’s ‘Omniverse’ offers developers a chance to collaborate on 3D models by enhancing communication and productivity. This tool helps foster innovative creations by providing a framework to create Metaverse-related materials.
Many Metaverses companies are utilizing NVIDIA’s Omniverse to create digital assets, avatars, virtual environments, buildings, and much more. These companies include Kroger, PepsiCo, Amazon, and many more. Omniverse enables these metaverse companies to develop immersive experiences for their target audiences.
NVIDIA also launched NVIDIA OVX, which allows companies to run intricate simulations within the Omniverse. This enables developers, engineers, and strategists to create 3D simulations of real environments.
Unity is a very prominent name in the gaming industry, where it has helped bridge technology gaps across various games for developers alike. With thousands of developers preferring the Unity engine over other competitors, Unity has now enabled developers to create immersive, interactive experiences to connect with users in the Metaverse for any industry.
This Metaverse Company offers a wide variety of tools for developers to utilize to create software solutions to monetize 3D and 2D content for the Metaverse. It is also preferred by developers due to its native C# programming, which is widely known by most developers. Its ease of use is what makes it a preferred option over competitors such as Unreal Engine.
Examples of Metaverse-based Unity games include Fantasy World and Bomb Crypto, which allow users to explore different metaverses according to the game’s storyline. For example, Bomb crypto enables users to control superhero avatars to complete campaigns and earn prizes. A major incentive of this game is that it rewards users with NFTs to simply play the games.
With the ability to create VR/AR games using Unity, this Metaverse Company is going to play a pivotal role in shaping the future of the metaverse.
The Sandbox Metaverse has gained a lot of popularity in recent years, with celebrities such as Snoop Dogg creating their own metaverses within the game to connect with their audience. ‘Snoopverse’ was also recently featured in Snoop Dogg’s recent music video ‘House I Built’, with the rapper showing off his virtual mansion within the Sandbox Metaverse.
This Metaverse platform allows users to create their own 3D virtual assets using an in-game 3D editor called VoxEdit. After creating unique assets, users can list them on the in-game marketplace, thus facilitating creator monetization.
Similar to Decentraland, the virtual real estate market within the Sandbox Metaverse has also gained a lot of traction. For example, an investor purchased the ‘LAND’ plot next to Snoop Dogg for $450,000. The game utilizes ‘SAND’ as its Metaverse currency, which can be swapped out for other forms of currency on online crypto exchanges.
Another very popular metaverse gaming platform, Roblox, aims to facilitate the creation of a creator economy by allowing users to create their own virtual spaces. The platform has gained a lot of popularity in the past few years, where players are allowed to utilize avatars to explore different spaces and enjoy various games.
There have also been several festivals organized within Roblox, such as the Electric Daisy Carnival (EDC) in 2021. Users have been able to fully immerse themselves into the game, and with a wide variety of games catering to almost every demographic, the platform has gained over 37 million daily active users.
Big name brands such as Nike have also decided to build their own metaverses within the platform. ‘Nikeland’ offers users the chance to take part in sports-related games, explore the latest Nike collections, and purchase items for both the virtual and real-world spaces.
Shopify is a popular e-commerce platform that is eyeing the metaverse as a new market. The company has taken significant steps toward integration by releasing Shopify AR, an augmented reality solution that uses 3D models. This improves the buying experience by allowing buyers to virtually try out items before purchasing them.
In May 2022, Shopify announced a partnership with Crypto.com to accept cryptocurrency payments. The platform currently supports over 20 cryptocurrencies that people can utilize, that include Bitcoin, Ethereum, Dogecoin, and SHIB. This is a step toward full integration with the metaverse-centric DeFi ecosystem.
In addition, Shopify has partnered with Novel, a web3 tool platform and thirdweb, to provide its users with more options. Individuals can mint and distribute their NFTs to represent virtual assets using the Novel Shopify software. Shopify is preparing to capitalize on the potential rise in demand for such digital assets as the metaverse grows.
The virtual real estate game Upland metaverse uses blockchain technology to expand on the Monopoly concept. Its distinguishing feature is the mapping system developed by Upland to mimic real life cities. The game currently has over 20 mapped cities are already where gamers can buy, own, and establish virtual property.
Many foreign cities have joined Upland’s roster in late 2022, including Porto, Rio de Janeiro, and Doha, Qatar. This update will allow players worldwide to enter the game’s active community and benefit from its free market economy.
The Upland metaverse is also accessible via mobile devices running iOS and Android, allowing anyone to participate. Because of the game’s emphasis on social and economic realism, it provides a very immersive experience. The Upland neighborhood comprises people from all walks of life and from all over the world. This community dramatically enhances the game’s social nature, allowing players to meet and interact with new people.
In Upland, players can buy and sell land, build and improve their estates, and reap the benefits of their efforts through various in-game activities. This gives gamers a unique opportunity to expand their imaginations, invest in real estate, and participate in a world of limitless possibilities.
10. Epic Games
Epic Games was founded in 1991 by Tim Sweeney as an American video game and software development company. The organization’s headquarters are in Cary, North Carolina, with branch offices in many other cities worldwide. Fortnite, Gears of War, and Unreal Tournament are just a few of the games that Epic Games has developed or released.
Epic Games, for example, has had enormous success with Fortnite. Millions of people from all over the world have joined the free-to-play game craze.
Several well-known games owe their technical foundation to Epic Games’ Unreal Engine, which was developed and is licensed. The Unreal Engine is a powerful program that allows programmers to create video games with realistic physics and cutting-edge graphics.
In addition to video games, Epic Games has developed software solutions for various fields. Epic Games, for example, created the Unreal Studio software package for use by 3D visualization experts such as architects and game designers. Epic Games has also helped to develop VR/AR games and experiences.
The company has also raised over $2 billion in funding from Sony and KIRKBI, to help advance their efforts to build the Metaverse.
Apple has significantly invested in AR and VR technology. Apple’s ARKit, for example, is an augmented reality (AR) software development kit (SDK) for iOS devices. The corporation is also rumored to be working on virtual reality headgear and augmented reality spectacles.
Apple may or may not create its own metaverse, but its investments in augmented and virtual reality indicate that the company is interested in the field. The iPhone, iPad, and possibly other Apple products could serve as entry points into a metaverse created by a third party. Apple’s ecosystem, which includes the App Store, Apple Music, and iCloud, is just one example of how it could contribute to a metaverse.
The Apple headgear will reportedly include a powerful M2 CPU from Apple’s Macs and a slew of cameras and sensors to monitor users’ movements precisely.
The use of retina scanners as a biometric security measure has also been talked about during recent leaks. Because biometric identification is more secure than passwords, users can log in, make purchases, and access other headgear features.
Motorized lenses that automatically adapt to the wearer’s eyes and snap on prescription lenses for glasses users have been proposed as potential features.
Amazon is developing several technologies and services that could contribute to such an endeavor. Amazon has become a significant player in the game industry’s adoption of virtual reality (VR) and augmented reality (AR) through its AWS (Amazon Web Services) cloud computing infrastructure (AR).
Amazon Game Studios, Amazon’s in-house company, has developed and published several successful games, including New World and Crucible. These games demonstrate Amazon’s game development abilities and have the potential to be included in a metaverse one day.
Amazon is also intrigued by the possibilities of augmented reality in the retail sector. The company has released an AR View app that allows users to place furniture virtually in their homes before purchasing it. Likewise, Amazon is rumoured to be introducing web3 technology like NFTs.
What Google might be up to in terms of a metaverse can be deduced from previous efforts and acquisitions. Google Glass was a high-profile attempt to popularize augmented reality by utilizing Google’s widely used search engine. Despite the product’s lack of mainstream success, the company has continued to develop and release updated versions of the device for use in business settings.
Android phones could be converted into VR screens using Google’s Daydream platform, and Google conducted virtual reality experiments. Due to its expensive price and limited functionality, the platform was not extensively adopted.
Project Iris is another experimental augmented reality system developed by Google that makes use of a VR headset. The system uses Google’s supercomputers to display high-quality visuals in real time. Project Iris may provide a new perspective on augmented reality by fusing the real world with Google’s virtual world.
Project Starline is a Google initiative that uses computationally intensive methods to simulate volume and depth to make two-dimensional images of people appear three-dimensional. Similar to a magic mirror, the technology creates the illusion that all parties involved are in the same physical space. This technology could improve the realism and immersion of social interactions.
Through internal development and strategic acquisitions, Google has made significant investments in the intelligent eyewear and microdisplay technology sectors. The company has also acquired North, a maker of smart glasses, and Raxium, a maker of microLED displays. Google can obtain the technology it requires from these acquisitions to improve the quality of the metaverse experience it aims to provide.
Nike has always been ahead of the curve when it comes to digital innovation, and the firm has continued to experiment with cutting-edge platforms like the metaverse, NFTs, and web3. Nike fans can gather, chat, and participate in contests and other events in Nikeland, a custom-built metaverse hosted on the popular Roblox platform. Nike claims that 7 million people have visited Nikeland since its debut in November 2021. Nikeland is a virtual world where users can interact with virtual versions of themselves and buy virtual goods to personalize them.
Nike has joined not only the metaverse, but also the NFT bandwagon. Nike acquired RTFKT Studios, a manufacturer of “next-generation” NFT collectibles, in December 2021. The studio made $3.1 million from the sale of 600 pairs of NFT shoes in just six minutes. Nike’s first NFT shoe line is called CryotoKicks Dunk Genesis, and it was created in collaboration with RTFKT Studios so that customers could personalize their footwear with “skin vials.” This demonstrates Nike’s understanding of the value of customization to modern customers.
Adidas officially entered the NFT field with the release of “Into the Metaverse” in December 2021, which consists of 30,000 digital collectibles on the Ethereum blockchain and grants users access to rare physical products with continuous digital usefulness. Gmoney, PUNKS Comedy, and the Bored Ape Yacht Club made this a reality. Since its debut, the collection has undergone three iterations, the most recent being the Virtual Gear Collection, Adidas’ first NFT collection of compatible digital wearables.
Individuals interested solely in Virtual Gear accessories may obtain the NFT on the secondary market for a floor price of 0.038 ETH (approximately $46.50 at the time of writing). The virtual DMT BAYC sweatshirt is the most limited design in the Virtual Gear collection, costing 8.5 ETH. Furthermore, there are still 13,997 Adidas Impossible Boxes available for purchase for 0.094 ETH (approximately $115.00)
Despite the claiming period being over for the physical merchandise in Phase 2, purchasing an Into the Metaverse NFT still has benefits. Buyers will gain future digital and physical utility down the line, including the ability to attend an exclusive ITM holder event that will take place in the first few weeks of January. The Virtual Gear NFT, on the other hand, will give buyers an interoperable digital wearable. These NFTs are available on secondary markets such as Coinbase, OpenSea, and the GMoney market.
Shenzhen-based Tencent Holdings Limited is a subsidiary of Tencent, a Chinese multinational conglomerate. Tencent, founded in 1998 by entrepreneur Pony Ma, is one of the world’s largest gaming and social media companies. The corporation has received approximately $650 billion in investment and is a major player in several industries. Cloud computing, internet advertising, financial technology, and e-commerce are examples of these industries.
Tencent has been aggressively investigating the potential of the metaverse, an online world where users can interact with a computer-generated environment and other users. In2021, the company entered the hardware industry by launching an “extended reality” branch, tasked with developing products and services for the metaverse. Other major tech companies, including Meta, Microsoft, Apple, and ByteDance, TikTok’s parent company, have used similar metaverse methods.
Tencent’s plans for the metaverse go beyond infrastructure and software development. The corporation has registered approximately 20 trademarks related to the metaverse for use in China, covering a wide range of applications. Tencent CEO Martin Lau stated that the company is considering “many paths” into the metaverse, including gamification and social media.
The firm has a track record of providing seed funding and ongoing support for initiatives from inception to completion. Tencent, with its vast resources and experience in a wide range of technical fields, is uniquely positioned to make significant contributions to the development of the metaverse.
17. Animica Brands
Animoca Brands, based in Hong Kong, is a blockchain gaming company that develops and distributes various forms of digital entertainment, such as blockchain games, non-fungible tokens (NFTs), and other blockchain-based digital assets. Since its inception in 2014, the company has emerged as a dominant force in the blockchain gaming industry.
The Sandbox, F1 Delta Time, and Crazy Defense Heroes are just a few of the popular blockchain games published by Animoca Brands. The Sandbox, a blockchain-based virtual environment, has announced several partnerships with influential entertainment industry names such as Atari, Care Bears, Snoop Dogg and more.
Animoca Brands is a formidable competitor in the NFT industry and a leading game developer and publisher. The company has collaborated with large corporations such as Formula One, MotoGP, and Marvel to create NFT collectibles and has acquired several successful NFT markets, including OpenSea and Quidd.
What Do The Best Metaverse Companies Work On?
The primary objective of the best Metaverse Companies is to contribute towards enhancing the user experience for the digital world. There are various fields that Metaverse-related companies are currently working in. These include:
Building Immersive Metaverse Hardware Solutions
While Meta currently dominates the VR headset market with their MetaQuest2, several other companies involved Metaverse are working on creating hardware for the Metaverse, such as Samsung, HTC, Sony, and more!
The current primary goal of these companies is to create lighter VR sets at affordable prices to enhance customer experiences online. The AR space is dominated by Microsoft’s HoloLens, Apple, Google, etc.
The role of hardware is not limited to just VR/AR headsets; these Metaverse Companies are also working on incorporating haptic feedback through sensors for when users interact with objects in the Metaverse. Incorporating sensory feedback enables users to have a completely immersive experience.
For example. Meta is currently working on robotic skin that works with sensors and AI to provide feedback whenever a user touches anything in the virtual world. These devices help blur the lines between the virtual world and the digital world, which is what makes the Metaverse so attractive.
Metaverse hardware can be split into 2 further subcategories. These include:
- Visual and Audio Hardware: VR/AR headsets are being worked on by various companies such as the ones mentioned above. Metaverse Companies are working on improving user experiences by creating high-quality optic displays and working on creating lighter headset designs.
- Wearable Sensors: Sensors are going to play a huge role in enabling users to interact fully with their virtual surroundings. These sensors would need to be worn by users, and while this technology is currently still in development, users can still currently experience haptic feedback through controllers.
- Creating Interactive Virtual Worlds: Metaverse Companies are continuously working on creating and improving virtual spaces for users. There are several companies such as Sandbox, Decentraland, and more that are already very well known. Metaverse Companies working on these platforms aim to create an interactive virtual world that allows users to interact, create 3D NFTs, sell digital assets on inbuilt marketplaces, and much more.
These virtual worlds offer users a chance to fully immerse themselves and attend virtual events such as concerts, fashion shows, and more. By incorporating an in-game economy, these Metaverse Companies have created several opportunities for users to earn and be involved in building the Metaverse to its full potential.
Creating 3D Metaverse Software
The Metaverse is meant to be an immersive 3D space, similar to our real-life world. Metaverse companies are working on creating robust software to allow for seamless 3D object creation. These 3D objects could be virtual landscapes, skyscrapers, or simple 3D avatars.
Companies working on Metaverse development such as NVIDIA and Unity are already working on creating solutions for developers to build real lifelike worlds. This software would enable Metaverse developers to easily create realistic landscapes and environments for end users.
Providing Data Storage for the Metaverse
Metaverses are vast, rich virtual worlds with a lot of 3D-designed objects that would require a large amount of data storage options. Undoubtedly cloud storage is the best option for Metaverses, which creates an opportunity for Metaverse companies to create customized storage solutions that would be able to fulfill the storage requirements needed for a large virtual space.
There would also be additional storage required by NFTs and other user-created objects such as Avatars. These could be stored on decentralized systems that are Blockchain-based. That way, these user digital assets could be stored securely, as no 3rd party would control the data.
Additional storage would be required for data generated by Metaverse users while interacting with businesses online. Storing this data is extremely important as it can facilitate future marketing strategies for businesses. For example, tracking eye movements while inside virtual stores could help businesses understand which product is generating more interest.
Providing Metaverse Connectivity
Exploring the Metaverse would require users to have access to a high-speed internet provider. This is due to the fact that the vast landscapes and environments would require a large amount of data to render.
Users will be looking for the best connectivity providers, and Metaverse companies such as Starlink are an excellent choice for fast-speed internet. This also creates an opportunity for other internet providers to step up and provide lightning-fast connectivity to be a part of this digital revolution.
Why Are Companies Getting Involved in Metaverse?
With the Metaverse set to change the way users interact online, more and more companies are looking for ways to get involved with the Metaverse. By incorporating virtual reality and augmented reality, the Metaverse has created many opportunities for businesses and individuals to earn online. Tech giants such as Meta, NVIDIA, and Microsoft have the talent and resources to revolutionize the “future of social media,” and several businesses are contributing toward making the concept a success.
There is still a long way to go for Metaverse companies to fully harness the potential that the Metaverse has to offer. Exciting feats such as playing table tennis online with a friend and relaxing by a pool, as shown in Facebook Connect, may still be years away. With the world’s largest tech companies collaborating to make this concept a success, the “future of social media” seems closer than ever before.