The Metaverse: Latest Developments to Benefit Everyone

Hermione at Pangea.ai
Peace Akinwale
Published: 31.10.2022

The Metaverse is a connection of networks of 3D virtual worlds. It’s a medley of virtual and mixed-reality worlds that users can access through a VR headset or browser. The design of the Metaverse allows people to have real-time interactions across distances.

The term “Metaverse” first appeared in a 1992 fiction novel, “Snow Crash,” by Neal Stephenson. In the novel, he created life-like avatars that met in realistic 3D buildings and other virtual reality environments. Since then, the concept of the Metaverse has looked more and more realistic.

Image of a man wearing a virtual reality headset and reaching out to touch an animation of the earth and the word METAVERSE in bold.

If you’re still wondering what the Metaverse would look like, the film Ready Player One provides a remarkable example of what it’s all about. Many large companies, especially in the technology sector, are hopping on the Metaverse tech because of the vast possibilities it promises. The Metaverse is often regarded as the next big thing, which is why mega companies like Unity, Google, NVIDIA, Wikitude, and Snap are empowering the technology through their products.

The Metaverse developments can benefit everyone, regardless of what they do, which is why I'll highlight some of the latest developments concerning life post-COVID in this article, and how the Metaverse can improve it. Stay with me and discover some of these latest developments.

Meta: The Facebook Company Update

Mark Zuckerberg, the CEO of Facebook, announced that the company name was changing to Meta in April 2021. This change took full effect in June 2022 as they changed the stock market ticker symbol from FB to META. This change signifies a lot of developments, including:

  • The integration of the Metaverse.
  • 3D visualization.
  • Remote and in-person work.
  • Team collaboration.
  • Gaming and entertainment systems.
  • Immersive commerce and education.

Mr. Mark and Meta believe that the Metaverse is the next solution to social connection and the successor to the mobile internet. This shouldn’t be surprising because you can imagine the possibilities of the Metaverse. The company has begun to look beyond social media to unite the physical and digital worlds to create a new experience for people worldwide through its tech.

With Meta’s plans, the Metaverse can be a space for you to:

  • Be in your virtual workspace without leaving your home.
  • Connect with friends and family in your virtual home. They can have a feel of your space without being there.
  • Visit your favorite stores virtually anytime you want with no closing hours.

Meta didn’t stop at announcing its name change and Metaverse potential. It took steps to enforce its new stand as a platform to help people connect in multiple ways. Here are some of the steps that Meta has taken regarding the Metaverse;

Partnership with Microsoft

Remote work life is moving a notch higher with the Metaverse. Meta has rebranded the VR headsets and app since acquiring the Oculus Company in 2014. One of the goals is to partner with top companies like Microsoft. On October 11, Meta’s CEO announced that Microsoft Teams would be integrated into Meta Quest Pro and Quest 2 devices for virtual meetings. This new feature allows users to have immersive settings, feel like they're in the physical workspace, and stream Windows Desktops, Office 365 applications, and Sharepoint documents. Teams will also be integrated with Horizon Workrooms, making it possible to join a Team meeting from Workrooms and use Meta avatars in immersive Team meetings.

Partnership with Adobe

Meta announced its partnership with Adobe during the Connect 2022 conference. They're working to develop VR versions of the Substance 3D apps and make them available on Quest Pro and Quest 2 by 2023. Adobe Creators will be able to use these VR headsets to build and share immersive 3D content with their teammates. Adobe Acrobat will allow users to work on PDF documents from a virtual environment.

Partnership with Accenture

Another partnership Meta has in the works is one with Accenture. The partnership aims to make Accenture serve as the bridge between Meta and small businesses interested in the Metaverse, helping them bring the future of work to their people as soon as possible.

This partnership aims to launch “Quest for business” in 2023 to provide Metaverse and VR bundles to businesses that want to expand the virtual work experience for their employees. Accenture is working towards improving the future of work across industries and will work alongside Meta and Microsoft to help companies use VR to interact with customers and create services and products in the Metaverse. It's already hiring talents for some roles (and you can learn how to hire right for your projects too).

Partnership with Autodesk

Architects, designers, and engineers aren’t left out of the Metaverse wave, as Meta also announced a budding partnership with Autodesk. Autodesk, the 3D giant, is now updating its collaborative design review app to work with and take advantage of the perks of the Meta Quest Pro. That’s perfect for architects and other 3D designers to review 3D models more immersively as it would help to:

  • Get a good view of the model and see what works and doesn’t.
  • Point out mistakes through a more realistic view.

Walmart’s Entry into the Metaverse

Meta isn’t the only company leaping at the possibilities of the Metaverse. The widely known retail store, Walmart, has collaborated with Roblox to penetrate the Metaverse. Walmart announced in late September that it’s launching two immersive virtual reality experiences with Roblox, a Metaverse mega platform popular with kids.

A phone screen showing the Roblox home page with different gaming characters in the background.

Source

This virtual experience by Walmart is mainly for Kids, as the two experiences include Walmart Land and Walmart’s Universe of Play. For Walmart Land, there will be a virtual dressing room, a music festival with famous artists, and a Netflix Trivia experience starring Noah Schnapp, the famous "Stranger Things" star.

For Walmart's Universe of Play, kids can access immersive games with different characters from the most purchased toy products from the holiday season, from Paw Patrol to L.O.L Surprise! Walmart’s goal is to capitalize on the Metaverse to create a more immersive entertainment experience for kids of all ages.

Triller Launches Metaverse Platform

The pandemic favorite short-video platform, Triller, has recently launched a new Metaverse platform called Metaverz. The company created Metaverz to provide multiple virtual spaces for its users to watch live sporting and music events. These events include the Triller Fight Club and the Bare Knuckle Fighting Championship, exclusive to the app.

Working with Epik, Triller is creating games within this Metaverz for numerous players. These players get the chance to earn digital currency, which is named Illr Bucks, and can be used to make purchases such as cultural apparel, avatar customization, and tickets on the Metaverz platform.

The platform kicks off with a performance by DJ Sam Feldt on the 22nd of October. This event is the first of the 2,000 events Triller has planned for the next year to hold in the real world and the Metaverz.

The Metaverse applications go beyond just tech; this is only the beginning. So many companies and businesses are diverting into the Metaverse now, as it seems like the next big thing. If you're thinking of imbibing virtual reality and the metaverse in your company's web or app, you can look at our vendors' profiles for their offerings. You can also tell us your company's Metaverse dream, and we'll link you up — with the five best companies with the skills and experience to achieve your dream — within 72 hours. After all, you can use virtual reality to keep your company a step ahead!

FAQs:

Q1. Which Company will build the Metaverse?

Some top tech and gaming companies, such as Meta, Microsoft, Accenture, Unity, Epic Games, Nvidia, Decentraland, Autodesk, and many more, are currently building the Metaverse together. The possibilities of the Metaverse are so broad that just one company can’t build the Metaverse alone. Many companies are working on different aspects of the Metaverse to build & develop it to achieve the ultimate goal of maximizing virtual reality. You can join them by choosing a VR production company for your project.

Q2. What is the new Metaverse?

The new Metaverse will contain innovations from companies and businesses to help users connect for entertainment, travel, or work using VR headsets, no matter the distance, without leaving their homes. The new Metaverse is the virtual world that will change reality, and it’s a new world that everyone is looking forward to participating in. Companies like Meta and Accenture are part of the companies working hard to develop the new Metaverse.

Q3. Does the Metaverse have a future?

According to a lot of tech enthusiasts, the Metaverse is the future – it represents a place for users to immerse themselves in a new reality. The Metaverse isn’t coming to take over the internet and replace all technology. Instead, it will produce new technologies and experiences for people worldwide. Everyone expects the future of the Metaverse to have stretched out to many more sectors and run openly and decentralized. In the future, the Metaverse will include both the physical and virtual worlds in the user experience.

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