Who else is capable of creating the Metaverse?

Instead of just leading the metaverse, the top technology businesses want to own and define it.

Who else is capable of creating the Metaverse?
For the next metaverse, Apple has developed a powerful head mounted system (HMD) virtual meetings software.

Although the metaverse can take the role of the internet as a computing platform, it is doubtful that its development will follow in the footsteps of its forerunner, as reported by Cointelegraph.

Private industry has the most active belief in the metaverse’s future, in addition to having the most resources, the best engineering talent, and the greatest conquest ambitions. It is also fully aware of the metaverse’s potential. Instead of just leading the metaverse, the top technology businesses want to own and define it.

As per Cointelegraph, in the metaverse, open-source projects with a non-corporate mindset will continue to be crucial, and they will draw some of the most fascinating creative talent. The early metaverse has only a few prospective leaders, such as Microsoft, Apple, Meta, and Amazon.

Microsoft’s Mesh platform is one of the cryptographic initiatives for the metaverse. The software behemoth uses this platform to create extended and mixed reality (XR) applications that combine the real world with augmented reality and virtual reality. According to reports, the US Army is working with Microsoft to create an augmented reality Hololens 2 headset so that soldiers can train, practise, and engage in combat. Xbox Live also connects millions of video game players worldwide, Cointelegraph stated.

Even while Apple has lagged behind firms like Meta and others in introducing the first AR and VR devices, the Cupertino company might still have time. For the next metaverse, Apple has developed a powerful head mounted system (HMD) virtual meetings software. A number of technologies that let users perceive and engage with augmented reality (ER) surroundings are also covered by Apple’s patent.

Previously, the former Facebook made large investments in virtual reality, including the 2014 purchase of Oculus. In Meta’s virtual reality universe, virtual reality headsets are used to facilitate interactions between digital avatars for work, play, and travel.

Virtual reality and augmented reality are predicted to boost the global economy by $1.5 trillion by 2030, up from $46.5 billion in 2019, according to PwC, multinational accounting and consulting organisation.

To prepare for the industry’s growth, Google, owned by Alphabet Inc., Facebook Inc., and Microsoft Corp. have all made investments in cloud computing and virtual reality businesses.

(With inputs from Cointelegraph)

Also Read: ED freezes over Rs 64-cr bank deposits of crypto exchange WazirX

Follow us on TwitterFacebookLinkedIn

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos