What 5 Big Brands Are Building In The Metaverse
When science fiction writer Neal Stephenson coined the term “the metaverse”, he was describing what would eventually become a household name in the web3 space. And now that there are big brands building in the metaverse, things could get really interesting. But before we dive into all that, let’s look at what a metaverse actually is!
What Is A Metaverse (And Why Should You Care)?
A metaverse is the concept of a shared virtual space that combines the internet with virtual and augmented reality. Games like Fortnite and Minecraft are great examples of how these virtual spaces work.
People can create avatars that serve as their identities online and interact with other people’s avatars in a shared virtual environment. Introduce web3 into this mix and you have a system in which people can enhance their metaverse experience by buying tokens that represent objects they can interact with.
So, now we’ve got the basics out of the way… What companies are building in the metaverse?
What 5 Big Brands Are Building In The Metaverse in 2023
There’s a lot of ongoing development from companies in the metaverse space that have made headlines. It’s almost like a race to dominate the space and market share. Here are five big brands that are building in the metaverse, and what they’re working on.
1. Google
While other brands on this list have only recently moved into the metaverse space, Google has been ahead of the curve for a while. In 2013, the search engine giant launched Google Glass, a pair of smart glasses with exciting augmented reality features straight out of a Matrix movie – for example, the glasses had a smart display and natural language voice commands.
Although Glass was pulled from the market due to privacy concerns, it made a comeback with a new version in 2017. But that’s not the end of the glass story. In 2022, the company teased a third version of the product with an added instant transcription feature for language translation.
Outside hardware, Google Cloud is partnering with Coinbase to explore web3 development opportunities. And that’s not all! The company is also building Project Starline – a social tech startup that will allow users to see a 3D model of the other users they’re communicating with.
2. LEGO
If there’s any company that understands the building blocks of immersive experiences, it’s definitely LEGO. Through LEGO Life, its digital building platform, and other virtual and augmented reality experiences, it has improved the building experience for kids and adults. But now, LEGO is looking to build for the metaverse. In 2022, the company announced a partnership with Epic Games to create virtual products for the metaverse.
These products could potentially allow users to create items in the physical world and transfer their creations into the virtual world. Lego also announced that it would invest $1 billion in this partnership, so it’s safe to say that they’re serious about this.
The company has already created a special team known as GAME (Games, Activations & Metaverse Experiences). The LEGO Group is positioning itself as a major player in the metaverse by leveraging its strong brand, expertise in building and design, and large user base.
3. IKEA
IKEA is a haven for DIY hobbyists, last-minute furniture shoppers, and everyone who used to watch Bob the Builder. But now, that haven could become virtual! The Swedish furniture retailer is one of several big brands making a silent but impactful foray into the metaverse space.
Exhibit A: its digital home design platform, IKEA Kreativ, could be the missing link between realistic virtual furniture and what currently exists. Imagine being able to delete the furniture in your home and visualize interior designs by virtually placing IKEA furniture in any space! Using virtual reality, the company has created a new approach to design that could have really interesting applications in the metaverse.
4. Meta
When Mark Zuckerberg unveiled the rebranding of Facebook to Meta in 2021, it almost seemed like a culture shift was happening. Metaverses were becoming a more popular concept already, but the rebrand put a real spotlight on the topic, according to Google Trends data.
In his announcement, Zuckerberg stressed his decision to prioritize building a new world in which social connections could run deeper. This would involve developing the better creative tools necessary to “bring the metaverse to life.”
Then, Meta released Horizon Worlds, its first product launch towards this new goal. Horizon Worlds is a multi-player virtual reality environment in which people can explore new locations, connect with friends, or work together to solve puzzles and play games. If you’ve seen a bunch of people wearing futuristic-looking VR sets, then you’ve probably seen Oculus VR, an additional Meta product outside of virtual settings, which helps people explore their virtual environment.
5. Epic Games
If you’re wondering why Epic Games sounds so familiar, it’s because they’re the developers of Unreal Engine, one of the top gaming engines for designing virtual environments. The company has been working on several metaverse-related projects on Unreal Engine, and its social networking platform, Houseparty. They’ve also acquired several startups like the social VR platform, VRChat, and 3D modeling software, Quill.
Epic Games has also been experimenting with blockchain technology, which could help them to create objects that help them integrate seamlessly with the metaverse.
Overall, these five big brands are just a few examples of the many companies that are building in the metaverse. As VR and AR technologies continue to develop, you can expect to see more and more companies exploring the potential of these immersive and interactive virtual worlds.
Featured image by Tumisu via Pixabay
