The inspiration to delve into this topic came from a YouTube video titled “The Metaverse: Seven Metaverse Companies That Are Making It a Reality.” This seven-minute-long video explains how seven famous tech companies are shaping the metaverse industry. Chances are that 2023 might just be another year for the industry to grow bigger. metaverse According to Precedence Research, a consulting firm that provides industry insights and market analysis, the is estimated to reach $1.3 trillion by 2030 based on four market drivers which include, increasing investment in the metaverse, rising demands in the media and entertainment industry, increasing uses of metaverse platforms, and rising popularity of interaction models and digital identities. metaverse market size https://youtu.be/SQSWn1CMrv8?embedable=true In this article, we explore some of the most popular metaverse companies in the world and their niches bearing in mind that the number of companies and brands entering the metaverse space is fast growing. Decentraland Decentraland is a popular metaverse platform running on the Ethereum blockchain technology. It was founded by Ari Meilich and Esteban Ordano in 2015, and its niche is virtual land ownership and development. Decentraland users are incentivized to buy, sell, and trade virtual land using its native ERC-20 token, MANA. Above all, there is the freedom to create their own unique experiences within the virtual world, and it grants users ownership and control over their virtual assets. Sandbox Sandbox is a popular gaming metaverse platform where users can create, share, and monetize their virtual assets. It is a user-generated virtual world that provides a variety of tools and assets for developing games and building social spaces. Sandbox has a thriving community for creators and players to collaborate on gaming projects and share ideas. The Sandbox was founded in 2012 by Sebastien Borget, Arthur Madrid, and Nicolas Pouard. It started as a mobile game studio known as Pixowl before gravitating toward blockchain technology. Roblox Roblox has millions of users as a leading gaming platform in the virtual realm. It is known for its vibrant environment and a wide range of game options and virtual worlds where users can create virtual immersive experiences and play games. It also has virtual hangouts where millions of users can connect with friends and join virtual events. Users can also learn coding through the Roblox Studio, and it is tailored to captivate and serve metaverse users of all ages. Roblox was founded in 2004 by David Baszucki and Erik Cassel as Dynablocks, a physics-based educational tool. It later had a change of name and transitioned to a user-generated content platform and virtual gaming community. Voxels Metaverse Voxels Metaverse, formerly known as Cryptovoxels, was founded by Ben Nolan in 2018. It is an Ethereum-based metaverse platform that is a bit similar to Decentraland. For example, Voxels Metaverse and Decentraland run on the Ethereum blockchain and allow users to earn from playing games. In the Voxels Metaverse environment, there are endless possibilities for creativity and exploration. Users can build, explore, and trade their voxel-based virtual creations. Vowels Metaverse is built around the concepts of decentralization and blockchain ownership, which allows users to have full control over their virtual land and assets. Spatial Spatial is an immersive collaboration platform that was designed to host remote meetings and events in its virtual environment. Its market niche is metaverse-based virtual conferencing which allows users to link up, interact, and collaborate, regardless of physical distance. Spatial combines VR and AR technologies to deliver remote collaboration and its unique settings  have continued to attract various industries that are seeking to incorporate the metaverse technology. One of the immersive qualities of Spatial is that it uses AI to generate data from images of its users and physical environments to create accurate 3D models. Spatial was founded in 2016 by Anand Agarawala and Jinha Lee who were inspired to create immersive augmented and virtual reality experiences. ALTAVA Group ALTAVA Group is a luxury Metaverse platform that offers a unique opportunity for leading brands to connect their in-person and digital experiences through the power of blockchain technology. ALTAVA's most notable NFT is the BAGC Collection, a golf-themed derivative of the Bored Ape Yacht Club (BAYC) licensed from Elite Apes, The Sandbox, and Animoca Brands. ALTAVA has blue-chip equity and token investors such as Hyundai, LG, Spartan, and Animoca Brands. It also has a Second Skin NFT Collection that links directly to WOY, the company's own Metaverse, available on the App Store and Play Store. High Fidelity High Fidelity was in 2013 founded by Philip Rosedale with the aim of creating a next-generation virtual reality platform. High Fidelity is a blockchain-based metaverse platform that focuses on social interaction, events, and commerce in virtual reality. It provides the tools for users to create and customize their virtual avatars, attend virtual meetings, and engage in virtual trade. Its aim is to promote social connections and meaningful experiences within the virtual realm. Upland Upland is a metaverse company that combines virtual property trading with real-world locations. It was founded in 2018 by Dirk Lueth and Idan Zuckerman. Upland allows its users to buy, sell, and trade virtual assets that mirror real-world addresses, enabling them to own and manage virtual assets tied to actual geographic locations. It offers a unique combination of virtual and real-world experiences for users to explore and engage with. The MetaVRse The MetaVRse is a well-known development studio in augmented reality and virtual reality experiences. It was founded by Alan Smithson in 2016 as a platform for immersive content and applications that leverage AR, MR, and VR technologies for the needs of various industries, including entertainment, marketing and training, retail, real estate, and health care. NeosVR NeosVR is a user-generated virtual reality platform founded by Karel Hulec in 2014. It provides a platform for creation, collaboration, and exploration. NeosVR users can build their own virtual environments, interact with others, and develop interactive experiences using a wide range of tools and assets. Its focus is primarily on its community of creators who push the boundaries of virtual reality experience. Conclusion The metaverse is a rapidly evolving field with a vast potential to shape the future of virtual experiences. The rapid growth of the metaverse industry is spurred by the growing number of  companies and brands entering this space. As a result of this, it has experienced a boost in innovation, and creativity, and it has created endless possibilities to explore the virtual worlds. Each metaverse platform has its unique features, communities, and opportunities for users to explore. In gaming, socializing, creating, or conducting business, the metaverse is capable of creating a new frontier for human interaction and experience, and with the continued advancements and improvements, it is destined to transform the way we connect, collaborate, and experience the virtual world.

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Exploring Popular Metaverse Platforms And Their Niches

Too Long; Didn't Read

Olayimika Oyebanji

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Exploring Popular Metaverse Platforms And Their Niches

Too Long; Didn't Read

Olayimika Oyebanji

About Author

TOPICS

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