Abstract

The Metaverse is gradually entering the stage of large-scale development. Smaller cryptocurrency projects, creators and games are co-creating content and building meta-platforms with tech giants such as Google and Facebook (renamed "Meta"). With the rise of this trend, technology giants that have the advantage of being able to carry the Metaverse platform have invested in development on their own. Google, for example, has taken a relatively obscure approach, focusing on bridging the digital and real worlds through augmented reality.

Meta, formerly Facebook, went in the opposite direction and developed the metaverse with great fanfare. This can be seen from the announcement of the company's name change. The company already has the necessary VR hardware and its own cryptocurrency, Libra.

Microsoft focuses on the virtual office and work environment in the metaverse, and will create a stable and sustainable virtual space to provide employees with a work and collaboration environment optimized for ordinary video calls.

Although Binance does not actively participate in the development of the Metaverse, it provides key cryptocurrency infrastructure. For example, the Binance NFT Market brings together Metaverse digital assets for buyers and sellers. Binance also provides a liquid market for Metaverse token trading.

Epic Games has two main strategies for the Metaverse. First, the company hopes to improve the basic user experience and technology to attract more players to join. In addition, it also plans to help creators create professional 3D assets for the Metaverse.

China's Tencent is the world's leading video game publisher and messaging service provider. They have publicly mentioned that they will use existing technology and focus on the gaming field as an entry point into the Metaverse.

Introduction

Creating the metaverse will definitely consume a lot of time and energy. However, who can take on the task of developing the necessary infrastructure? One of the great things about the Metaverse is that it cannot be created by a single entity, but requires a combination of all aspects of life, work, and play. Small teams and large international companies are now competing on the same stage, and everyone can contribute to the creation of the Metaverse. Binance Academy has previously discussed a number of smaller cryptocurrency Metaverse projects, but this article will look at a number of larger market players in the tech industry.

How to build the Metaverse?

Before we dive into the specifics of each company, let’s first clarify what it means to create a metaverse. For a review of the concept of the Metaverse, please readWhat is the Metaverse? 》Guide article. The concept of creating the Metaverse is much the same as creating the Internet. Both involve developing content and technology to enable connectivity. Whether it's building interactive play-and-earn games, virtual goods marketplaces, or ways to implement interoperable platforms, there are endless possibilities waiting to be explored.

Why are these companies so interested in creating the Metaverse?

Many of the companies to be discussed have their own platforms in key areas of the Metaverse and have taken the lead. Tencent’s WeChat, Meta’s Facebook and Instagram, and Epic Games’ Fortnite, to name a few. These platforms will eventually participate in the Metaverse, so it makes sense for them to develop their own Metaverse solutions.

We have witnessed the tremendous success of cryptocurrency Metaverse projects in terms of innovation and revenue generation. A new generation of developers and major international companies are drawing inspiration from projects like Axie Infinity, Decentraland, and Roblox. Start-ups and technology companies are scrambling to catch up with the latest developments of technology giants. Let's take a look at the trends and future prospects of the major giants.

Google

In an interview with Bloomberg, Google CEO Sundar Pichai ( Sundar Pichai believes that the metaverse is "computing evolved in an immersive way through augmented reality." In fact, Google already has a wealth of augmented reality experience through its Google Glass products. In November 2021, Google reorganized the VR and AR departments into a new "Google Lab" team, involving projects including the Project Starline holographic video conferencing tool.  

Google’s current focus is more on connecting people through enhanced virtual avatars that combine the digital and physical worlds. Although we have not seen Google make a concrete proposal for the Metaverse, the foundation has been laid solidly.

Facebook (Meta)

When it comes to large-scale development of the Metaverse, Facebook is clearly the leading advocate in the public eye One of the largest companies. The company even changed its name to "Meta", which shows how seriously it takes it. Moreover, the brand owns a number of products such as Facebook, Instagram and Oculus VR. Obviously, Meta already has many key elements of the Metaverse. On a smaller scale, we have already glimpsed their various metaverse developments:

1. VR information——An important way to connect users immersively.

2.Cambria Project—— A VR headset compatible with the Oculus Quest VR world.  

3. Horizon Platform——A place where buyers, sellers and creators can trade digital goods.

CEO Mark Zuckerberg has realized the importance of non-fungible tokens (NFTs), cryptocurrencies and blockchain in the metaverse. It is foreseeable that the Libra project under development will also be included in Meta's future development.

Microsoft

Microsoft's main metaverse product is the Mesh for Teams software that will be released in 2022. This product is directly inspired by the growing trend of working from home during the pandemic, as well as the rise of the Metaverse craze. The software is used with standard equipment and VR headsets to create a stable and long-lasting virtual office experience.  

The key to the Mesh for Teams experience is creating an avatar that represents a person’s digital identity. Through avatars, individuals can then explore virtual realms and spaces in the digital world, an important part of all metaverses.

Binance

Due to its advantages in cryptocurrency and blockchain, Binance plays a role in the metaverse indispensable role. The Metaverse will give birth to entirely new financial systems and processes, and Binance can help provide the necessary infrastructure. For example, the Binance NFT Market builds a platform for buyers and sellers to trade virtual asset NFTs in multiple blockchains, effectively improving the interoperability between various Metaverse ecosystems.

The Binance exchange also offers a rich selection of Metaverse token pairs. Creating a liquid market environment for the Metaverse can support and promote the development of the industry. If you plan to trade Metaverse tokens, please refer to our Binance Beginner’s Guide to complete the creation of your personal account and start your cryptocurrency trading journey.

Epic Games

Fortnite (Fortnite) owned by Epic Games ) platform is undoubtedly today’s advanced model. What started as just a game has now grown into a massive social platform and virtual world with 350 million players. Its virtual events include awards shows and concerts co-created with celebrities, brands and partners.

Epic’s metaverse development has two major goals. First of all, we hope that the Fortnite platform will grow and develop, attract and serve more users, and strive to exceed the current 60 million monthly active users. Secondly, Epic plans to "create more 3D, AR and VR content for the public and build a creator ecosystem, which are crucial to an open and interconnected metaverse." ”Once this goal is achieved, everyone will be able to create professional 3D content, effectively improving the quality of the Metaverse experience.

Tencent

Tencent is the world's leading supplier of video games and also owns China Social networks and two major messaging platforms, WeChat and Tencent QQ. Both belong to areas that are essential for the development of the Metaverse. For example, Tencent QQ provides games, e-commerce, music, movies, voice chat and other functions through its portal. WeChat connects to mobile payment apps through social media platforms.

On the earnings call, Tencent executives pointed out the importance of the company's gaming infrastructure in developing the Metaverse. Tencent has developed many office applications and projects that are in use. The company plans to make full use of its industry experience advantages to lead the gamification process in the metaverse field.

However, compared with other peers, Tencent has not publicly emphasized the importance of VR hardware, but is looking for software solutions to increase player participation in the Metaverse. This decision is closely related to Tencent’s investment in Epic Games, the developer of “Fortnite” and Riot Games, the publisher of “League of Legends”. For these reasons, Tencent will use its video game strengths to gain a foothold in the Metaverse.

Summary

The competition to develop the Metaverse is in full swing. However, unlike other technologies, there are still many non-overlapping innovation opportunities in the Metaverse. Witnessing the success of cryptocurrency and the Metaverse, giants such as Google and Meta (Facebook) have also stepped into the game and made corresponding plans. Next, we get a head-to-head look at big companies with big budgets and small cryptocurrency teams. No matter who can "come to the top" in the end, it will accelerate the pace of development and innovation in the Metaverse.