How to Develop a Metaverse Platform - 2024

Metaverse!

A trend observed in the present era will soon rule the world through its innumerable offerings. 

Till now, individuals interact with each other via social media platforms, calls, messages, and video calls. And, Yes- it is far more satisfactory as compared to the ancient or medieval times when people connected with each other only through letters.

However, the world is taking a giant leap and entering the digital world much faster. The advent of Web3 has given rise to many possibilities like a blockchain-based metaverse world. In Metaverse, individuals can get in touch with one another virtually. They can roam in the virtual world as avatars, play with friends, chit-chat with mates, attend events, and many more.

With such enormous advantages of the metaverse, many businesses are looking forward to invest in metaverse platforms. This article is worth reading if you also have the same motive and want to build platforms like Decentraland, Sandbox, Cryptvoxels, etc.

Let’s dive in!

How to develop a Metaverse platform?

In the journey of metaverse development, there are some steps to follow.

Step 1: Choose a Metaverse platform

To build an interactive Metaverse space, there are 2 options, i.e., either choose the existing Metaverse platform or build your own from scratch. 

Constructing the virtual space from scratch requires extra time and cost, but it gives the power to build a customized, robust metaverse platform with desired features and functionalities. However, selecting any existing platform like Facebook Meta can save time and money in building a metaverse app. A noteworthy point here is that the already existing metaverse platforms are in their nascent stages, so their functionalities or features are not that much matured. 

Therefore, based on the requirements, entrepreneurs can develop their metaverse space or app by selecting the desired platform.

Step 2: Design the Metaspace

After selecting the platform, it is time to design the metaspace. The metaspace could be anything like a virtual meeting room, conference hall, home theatre, etc. Based on the type of metaspace, the design can be finalised. The design of the metaspace must be appealing that users would love to visit the virtual world.

To connect with the virtual world, a VR headset is required. Once entered into the metaverse, the user can interact with others and explore the surroundings. Designing a meta world is not a piece of cake for everyone. Hiring experts for the task could prove to be beneficial.

Step 3: Build an interaction layer

A virtual world is useless unless it provides an interactive layer for users to interact with others in the metaverse. A well-defined interactive layer includes user controls, navigation controls, communication protocols, access criteria, and third-party integrations for the proper functioning of the metaspace. A experienced metaverse consultant can plan a perfect metaverse architecture, tech stack and tokens to excute planning well.

To illustrate, let’s take an example of a 3D model of a conference hall. This would be worthless if it can’t allow individuals to interact with each other in the metaverse. Hence, developing an interaction layer is compulsory for better performance of the metaspace. Try not to forget to accessorize your metaverse app or space with required hardware components or output devices like smart glasses, VR headsets, sensors, virtual goggles, etc.

Technologies behind Metaverse

The development of the Metaverse platform incorporates using the latest tools and technologies for better efficiency and immersive experience. Below listed are some of the cutting-edge technologies leveraged for developing metaspace.

Virtual Reality (VR)

Virtual reality is the backbone of the metaverse. VR technology is about building virtual environments. It uses VR headsets, gloves, and sensors to provide an immersive experience to users in the virtual world. These sophisticated gadgets are connected to the user’s PC, and by the use of which, a user gets detached from the real world and enters into the metaverse in the form of a digital avatar. In the metaverse, users can interact with others, hear them, feel them, and stroll around.

This all is possible mere with the use of VR-enabled hardware and software solutions that will make it possible to take you anywhere you desire.

Remember, VR is not the only one responsible for making metaverse traversing possible; several other technologies exist.

Let’s jump to the next one…

Augmented Reality (AR)

AR technology is incorporated in metaverse building as it assists in blending real-world surroundings into the digital world with elements such as facial recognition, object recognition, and movement tracking. Through AR, the way of interacting with the digital world has been changed, and users can view their surroundings with interactive digital visuals.

Many behemoths like IKEA utilize AR technology to offer a great interaction with users. With the technology, it is now possible to check the size of a new pair of sneakers using your smartphone's camera. It is predicted that by 2028, the AR market will touch approximately $98 billion globally.

The next technology on the list is blockchain.

Blockchain

Blockchain technology is the basic fundamental behind metaverse. Blockchain technology ensures the security of the individual’s identity. In addition to this, decentralization, governance, and interoperability are additional benefits that blockchain offers to its users in the metaverse.

Metaverse is about NFTs in any form like avatars, objects, skills, and other assets in the platform. These NFTs are non-replaceable and offer complete ownership of NFTs to their owners. These tokens can be traded in the native marketplaces or others in exchange for cryptocurrency or fiat currency. Blockchain keeps records of all the transactions made in the metaverse, which guarantees transparency and security.

3D technology

For smooth workflow of the metaverse platform and to offer a truly immersive experience to users, the use of 3D technology is a must. This technology will assist developers in scanning the real world and building a similar world in the metaverse. 

It is possible to create natural-looking items, buildings, environments, and avatars by building 3D models using 3D reconstruction technology. Using this technology, 3D spatial data, and 4K HD photography, exact 3D photorealistic models can be created in the metaverse.

So, what’s next now? - “AI”

Artificial Intelligence

Artificial Intelligence, which is normally called AI in simple terms, has the power to parse huge amounts of data at lightning speed for better insight. AI can plot facial expressions, hairstyles, emotions, features, etc., to make lifelike avatars in Metaverse. AI tech is used to build digital humans who are essential characters in the metaverse.

AI is highly useful in multi-lingual support as well. In Metaverse, AI assists by breaking down the common language and converting it to the user-friendly language of any location. In addition to this, it exhibits voice-enabled navigation to provide easy interaction with virtual objects without using hand controllers.

Internet of Things

IoT is the technology behind creating real-time simulations in the Metaverse. With the help of IoT, it has been possible to connect the two worlds, i.e., the physical and digital worlds. For this, various sensors and devices are utilised having unique identifiers.

In the metaverse, IoT collects data from the physical world to provide in the virtual world. It connects voice-activated speakers, thermostats, and other devices to access data. The data collected by IoT can be utilized to change the operations of various objects in the Metaverse to improve accuracy.

Сore characteristics of a metaverse platform

Metaverse has a lot to offer to its users. The features it associates are innumerable; however, below listed are some of the prominent ones that can’t be neglected.

Interoperability

The unparalleled interoperability feature makes it possible to use various objects and avatars in any of the existing metaverses.

Interactivity

Metaverse allows users to communicate and interact with others in the virtual world.

Persistence

Persistence is the nature of the Metaverse. It cannot be reset or paused.

Notable standards and other requirements for developing a metaverse platform

Open programming languages required for building metaverse include JavaScript, HTML, WebXR, WebGPU Shader Language, WebAssembly, etc.

Extended reality (XR) technology like smart glasses, VR headsets, scanning sensors, haptic gloves, and industrial cameras are essential for successful human-machine interactions.

Developers need to follow standards for media and 3D applications in the metaverse.

Blockchain and smart contracts are the most important prerequisites for secured and transparent transactions in the metaverse.

A decentralized network of computers is also required for real-time connections and decentralized data transfer.

This was about building a metaverse platform, features, standards, and all. But do you need to build your own metaverse platform?

Let’s find the answers below!

Things to consider before building a metaverse platform

Here are a few important points you must consider to make a final decision about the metaverse platform.

Try existing Metaverse

Many business owners jump directly into the development of the metaverse. However, this is not the right strategy. Before building, it is important to judge the platform. Therefore, try to join any already existing metaverse platform like Decentraland as a guest. By doing so, you will gain insights into the virtual world.

A way to generate income

Building own metaverse platform generates income, but there is another way as well to make money, i.e., investing in existing platforms like Decentraland and Sandbox. Moreover, buying crypto tokens is another prominent method of investment.

Now, you can ask yourself whether you want to build a metaverse.

After considering the above points, it might appear trickier as the metaverse project requires investment without any surety of ROI.

Though it seems tough initially, perhaps, a metaverse would bring returns in the future. The potential of the metaverse cannot be neglected; it may take some to flourish, and eventually, it will bring results.

Cost of creating a metaverse platform

Creating a metaverse world is no doubt a creative but time-consuming process. It requires cutting-edge technology to build a platform that could stay in the market for a long time. Hence, the cost of developing a metaverse platform depends on various factors.

Factors such as hiring tech experts, number of hours, no. of features, the complexity of the platform, building from scratch or developing clones, etc., are all responsible for deciding the project's cost. Considering all the factors, the rough estimated cost may range from $20,000 – $300,000.

Do you know what top companies are building metaverse?

Microsoft-

Microsoft is taking advantage of AR/VR technology to build metaverse applications on top of its Mesh platform.

Meta

Meta, formerly known as Facebook, is on its way to creating virtual worlds where users can interact with others for any purpose.

Nvidia

Nvidiais investing in its solution “Omniverse,” which focuses on connecting the 3D world with a shared virtual universe.

Apple

Another giant organization - Apple, is also investing in a metaverse by building an HMD (Head Mounted System) virtual meeting app.

Finally,

Creating a metaverse platform is not a big deal with all the above-stated information. Considering your objectives, you can build a virtual world with state-of-the-art technology by following particular standards and other essential requirements.

If you have decided to develop a metaverse platform, it is high time to start. Look for an experienced and professional team of developers with thorough knowledge of blockchain and metaverse. Discuss your project and let your dream come true!