Increasing Engagement and Enabling Virtual Tours with Metaverse

The word “Metaverse” was first used in Neal Stephenson’s 1992 novel called Snow Crash. Today, it has evolved to become a buzzword that has garnered significant traction across the globe. In fact, many individuals consider it to be the next thing that will significantly transform the online life of everyone in the near future.

But what exactly is metaverse? And how can the digital frontier alter our online world? This blog post aims to offer a thorough understanding of the metaverse, covering its basics, working, and applications. Also, it sheds light on the top companies that are committed to working with the metaverse, further developing technology to advance the digital world.

Top Metaverse Companies Listed

The metaverse market has the presence of both established players and new entrants. These companies focus on new product developments, agreements, partnerships, and collaborations to expand their market presence. Also, they focus on research and development to improve their product offerings. Below are some of the top companies that offer metaverse:

ByteDance Ltd

Founded: 2012

Headquarters: Beijing, China

ByteDance is a Chinese internet technology company that operates a range of content platforms. With creation as its core purpose, the company’s products aim to help imaginations thrive. ByteDance’s product portfolio includes CapCut, Douyin, Lark, TikTok, TikTok Music, Toutiao, Xigua Video, and Nuverse, amongst others. Also, it has a few products related to the metaverse, including a social app, virtual reality startups, and investments in virtual idols and digital humans.

Meta Platforms Inc

Founded: 2004

Headquarters: Menlo Park, California, United States

Meta Platforms, Inc., formerly named Facebook, Inc., is an American multinational company that owns and operates digital products and services worldwide. The company’s main product offerings include Facebook, Instagram, WhatsApp, and Threads, amongst others. In March 2024, Meta partnered with NVIDIA Corporation to procure 350,000 H100 GPUs. With the new GPUs, the company aims to improve its infrastructure for artificial general intelligence and other metaverse-related services.

Robolox Corporation

Founded: 2004

Headquarters: San Mateo, California, United States

Robolox Corporation is an America video game developer that’s known for its innovative platform Robolx. The company focuses on innovation and keeps advancing its products through advanced technology. Robolox’s product and service offerings span across advertising, experiences, integrations, shopping experiences, and virtual goods. In February 2024, Roboloc Corporation announced the launch of a real-time AI chat translator to enhance interactions within its virtual worlds.

Huawei Technologies Co., Ltd.

Founded: 1987

Headquarters: Shenzhen, China

Huawei is a Chinese multinational technology company that specializes in information and communications technology (ICT) infrastructure and smart devices. It employs more than 200,000 people and operates in over 70 regions and countries worldwide. The company is committed to bringing digital to every individual, home and enterprise to enable a fully connected, intelligent world.

Microsoft Corporation

Founded: 1975

Headquarters: Redmond, Washington, United States

Microsoft Corporation is an American multinational corporation and technology company that offers information technology products and services to individuals and businesses worldwide. The company has a wide range of best-known products, including the Microsoft 365 suite, the Azure cloud computing platform, and the Edge web browser. Also, it offers Metaverse solutions and is one of the Big Five American technology companies.

Besides these, other top companies offering Metaverse solutions include Alibaba Group Holding Limited, Nextech AR Solutions Inc., Sandbox VR, Unity Technologies, VR Chat, and ZQGame.

Quick Overview of Metaverse

In essence, a metaverse is a virtual environment that enables users to interact and connect with other users in real time. In the metaverse, each user has a virtual form called an “avatar” that enables them to do things in the virtual environment. As a shared and immersive digital universe, the metaverse enables users to engage in a variety of experiences.

Technically, the metaverse is a virtual space developed by the convergence of various technologies. It is powered by advanced technologies, including virtual reality (VR), augmented reality (AR), IoTs, spatial computing, artificial intelligence, and HMDs, amongst others. Metaverse is still in its development phases and companies are making significant investments to make it a viable and commercial social space.

Characteristics of Metaverse

Metaverse is a virtual world with digital characters, meaning creators have complete control over its implementation and elements. Below are the six essential characteristics of the metaverse:

Interoperability: In the metaverse, interoperability refers to the ability to effortlessly port user’s data and digital assets without the limitation of applications and platforms.

Decentralization: In order to ensure transparency, users must have full control of the data, information, and assets.

Persistent: The presence of persistent elements is another key characteristic of the metaverse. It must exist around the user’s digital space.

Individuality: Metaverse is basically a digital form of the real world. As such, all natural laws of individuality, such as privacy, and personal and private protection, must be applicable to the digital avatar.

Community Factor: Metaverse needs to be community driven and it must reflect in the involved brands.

Spatial: All the digital assets in the metaverse need to be easily findable and reachable.

How Does Metaverse Work?

The metaverse is driven by a mixture of various technologies. It makes use of blockchain technology, cloud services, artificial intelligence, and haptic feedback techniques to develop engaging user experiences.

The metaverse can be seamlessly accessed using various devices. These include goggles, virtual reality headsets, computer systems, and cell phones. These devices act as a gateway to the metaverse and channel the user inputs into the virtual environment.

The metaverse varies based on the production plants and interconnected computer information that constantly store and process vast data amounts. With these technological frameworks, creators can synchronize user behavior, interrelations, and subject matter across different platforms.

Enabling Immersive Experiences

Metaverse is an advanced digital frontier that helps bridge distances for innovation, collaboration, and digital interaction. Also, it provides a new canvas for creativity, enabling users to explore and experiment with new expression forms. In e-commerce, the metaverse enables consumers to interact with products in a unique way that’s not possible in the real world. With technological advances, more companies are anticipated to offer metaverse to individuals and businesses worldwide.