There is one word whose popularity has skyrocketed in recent times. It is none other than the metaverse. Undoubtedly, users have a huge interest in the virtual world and digital avatars. Let us know the top 8 companies making rapid progress in metaverse technology, predicted to be the future of the Internet.
Nvidia: A pioneer in metaverse technology
The American firm views the metaverse as a shared virtual 3D world where users can have an immersive experience. Primarily, Nvidia utilizes Augmented Reality for enabling digital goods to move from one virtual world to another. It has come out with Omniverse, a platform for connecting 3D worlds. Nvidia is a leader in metaverse technology. It is offering tools for 3D designing and creating digital twins. Thus, business firms benefit from real-time collaboration and seamless interoperability.
Moreover, Nvidia’s Graphics Processing Units (GPUs) are extensively used in the gaming industry. It is also providing free licenses for the Omniverse software to individual creators. This will help in building an open metaverse where the virtual worlds are interconnected.
The online gaming platform is witnessing a steady rise in its player community. Roblox is focusing on creating user-generated content to facilitate an immersive experience and offer more engagement. Currently, the top genres on Roblox are Action, Simulator, Role-Playing, Platformer, Tycoon, Anime, and Horror. It also partnered with music artists to organize concerts and fashion brands to conduct exhibitions. Therefore, Roblox has become the hub for creating virtual items and digital avatars. Its success in metaverse technology will also depend on how much gamers purchase the digital currency, Robux.
Qualcomm: Investing heavily in Metaverse technology
The American semiconductor manufacturer considers metaverse technology as a big opportunity. Qualcomm came out with a $100 million Snapdragon metaverse fund in March 2022. It will render financial support for companies working on Next-Gen technologies like Augmented Reality (AR), Artificial Intelligence (AI), and Extended Reality (XR). The metaverse will connect the physical and digital worlds. Besides that, Qualcomm will concentrate on industries like gaming, entertainment, health, and education. Importantly, recipients of the fund will get access to state-of-the-art hardware, international investors, and abundant promotion opportunities. Qualcomm would also invest in 5G to harness the capabilities of Extended Reality.
With 3D Bitmojis, Avatar lens AR filters and Cartoon Style 3D Lens, Snapchat’s vision for metaverse technology is quite different. It will use Augmented Reality (AR) to offer a personalized experience for users. AR glasses will facilitate wearers to interact with real-world objects, play games, and receive messages. Snapchat will provide an interactive experience for creators. This will help them to overlay their virtual content with the real world.
It will also utilize Machine Learning (ML) algorithms to enable hand and facial recognition. Features like live entertainment events, customized gifts, Lenses for creators, Try on Merchandise, and Scan real-life objects indicate that Snapchat is looking to create an immersive experience that blurs the line between reality and the virtual world.
The Chinese tech giant has 3 paths in place for metaverse technology. This comprises video games, social networks with a mix of user-generated content (UGC) and professionally generated content (PGC), and user-operated communities that function on immersive video. Tencent firmly believes that the future of the metaverse will be software-driven. It also invested in Immutable, an NFT startup and came out with Huanhe, an NFT trading platform. Tencent has shown a keen interest in virtual concerts after applying for patents. It will also introduce games with celebrities and influencers and engage users through live streaming.
The American video game developer raised $2 billion in April 2022 to accelerate its foray into the metaverse. Epic Games will create virtual spaces for players, facilitate brands to offer an immersive experience, and build communities for creators. Further, it will build a metaverse for kids with a primary focus on privacy, safety, and emotional well-being. Unreal Engine, the 3D creation tool will be used for the virtual production of content and for creating experiences that bridge the digital-analog divide.
Unity Software: Using 3D to advance in metaverse technology
With its state-of-the-art video game engine, Unity Software is poised to capitalize on the opportunities available in metaverse technology. The acquisition of Weta Digital for $1.625 billion in November 2021 will help artists access digital tools and create a realistic experience. Moreover, Unity Software will strengthen its virtual production business of creating 3D characters.
The tools include several features like anatomical modelling, advanced facial capture, and deformation of objects. It aims to democratize content creation in 3D. Thus, every real-life object will have a digital twin that acts as a virtual representation.
The software giant teamed up with 4 NFT marketplaces, OpenSea, Rarible, KnownOrigin, and SuperRare in October 2021. Artists can use Photoshop while preparing their images as NFTs. Potential buyers can see information like the name of the minter, social media links, and crypto wallet addresses. Hence, this feature will strengthen digital provenance and increase transparency. Creators can also use the content credentials for attaching attribution rights directly to their images.
Adobe is investing heavily in technology for 3D content creation, virtual storefronts, and digital imaging. This will help agencies and brands to create an immersive experience. It will also use Augmented Reality to enable shoppers to take pictures of products and check the size and fitting before purchasing them.
Do you wish to merge the virtual and physical worlds? Boost the prospects of your business by using metaverse technology.