The term “metaverse” refers to a collection of several technologies that work together to create a digital cosmos. An avatar-based virtual world called a metaverse allows users to socially connect with one another without physically being present. The virtual and physical worlds are combined through the use of augmented reality and virtual reality.
VR and AR technology have made it easy to access the Metaverse. They let users enter the world of virtual reality and live in their own digital universe.
By 2023 and beyond, the Metaverse is anticipated to become a major power in the digital sphere. The idea of the Metaverse has gained favor recently. In the upcoming years, it is anticipated that the Metaverse market will grow astronomically. The Metaverse Market is expected to generate over USD 61.8 billion in sales in 2022 and USD 426.9 billion by 2027, growing at a CAGR of 47.2%.
Top metaverse to watch out for in 2023
The following are the top 6 metaverse platforms available today:
For youngsters to create, play, and interact with others, there is Roblox. When the epidemic was at its worst, parents used it to support their kids’ socialization, which led to its enormous popularity. Games and virtual worlds made on the Roblox platform are present there.
In order to earn Robux, the platform’s virtual currency, this also includes selling customized avatars and Non-fungible Tokens (NFTs). Because it enables businesses to connect with a crucial group that most miss out on: potential customers, Roblox is one to keep an eye on.
A virtual world platform called Cryptovoxels enables users to utilize cryptocurrencies to buy, sell, and own virtual land. It makes use of the Ethereum blockchain and features a burgeoning developer and creator community.
Each parcel in the grid-like structure that makes up the virtual world can be owned by a different person or group of people. Then, users can use these parcels to construct and develop their own virtual experiences, including games, art displays, and social environments.
In the virtual world known as The Sandbox, players can create, own, and sell video games. The primary selling point of this metaverse platform is its focus on games.
The Sandbox gives everyone the ability to construct 3D games with a collection of potent game-making tools in order to build a dynamic and sustainable environment. You can create games even if you don’t know how to code thanks to The Sandbox Game Creator.
With the addition of capabilities for multiplayer gameplay, video, and audio streaming.
Decentraland is a decentralized and immersive online environment, a virtual reality platform that makes use of blockchain technology. The platform enables users to produce and monetise their own content and to purchase and sell virtual goods using the MANA money.
Decentraland, which went live in February 2020, leverages the Ethereum blockchain to enable safe and open transactions in the virtual world. Because there is no need for a centralized authority, users may be confident that their virtual assets and real estate are theirs in the truest sense.
NVIDIA, a top technology corporation in the fields of computer graphics and Intelligence, created the virtual reality and simulation platform called Omniverse. By the provision of a collaborative and immersive environment for users to create and model their projects, Omniverse brings together multiple industries including cinema, gaming, product design, and architecture.
The platform makes use of the strength of NVIDIA’s hardware and software capabilities, like ray tracing and AI, to deliver a realism and high-quality visual experience.
A wide range of tools and functionalities are also available through NVIDIA Omniverse to help users easily build and personalize their own virtual worlds and experiences. Also, it has a burgeoning group of builders and experimenters who work on projects together.
Similar to Roblox, Epic Games provides a platform for individuals to interact and create. It is one of the major players in the video game industry. Creators are able to develop and produce their metaverse projects and digital assets with their platform, Unreal Engine.
By acquiring a number of software development firms, including Bandcamp, the popular Fortnite creator is staking their claim to the metaverse. This will increase the users’ ability to monetise their artwork and participate in a community based around their interests. Investors have taken note of Epic Games’ upward trend and have given them $1 billion to advance the cutting-edge technologies that their platform offers in the future.
Why you should consider metaverse
The possibility of a global metaverse alters user interaction and puts pressure on companies’ marketing objectives. These metaverse platforms are helpful for smaller brands as well. They may take use of these chances to increase brand awareness.
Smaller businesses should begin considering the appropriate metaverse platform for their brand while the formation of the broader metaverse takes place before us.
With Roblox, create a universe with a focus on games for younger audiences or potential customers? With Sandbox or Decentraland, concentrate on creating virtual hubs to attract potential consumers into? These platforms use actual occurrences to provide users with a fully immersive experiences.