The metaverse universe is expanding rapidly. It is one of the sectors whose growth and development in the global aspect are promising. This is primarily because of people’s increased interest in spending and investing in virtual events like concerts and virtual services.
In 2020, with more than 400 million active Metaverse users, the metaverse market was worth an impressive $478.7 billion. By 2024, this number may double to $800 billion. In the coming years, about 25% of the population will spend an hour or more daily on the metaverse platforms.
Read on if you are new and want to learn more about the metaverse and which companies to look out for!
What’s The Metaverse?
As the name suggests, the metaverse refers to a virtual world where users can reproduce their actual and real-life experiences. Buying and selling virtual goods, attending concerts and fashion shows, and even running a business is possible in the metaverse.
It is also where the digital world can work simultaneously with the digital world, such as in the popular game Pokémon Go. The metaverse is a hotspot of opportunities. That’s why many metaverse companies are racing against each other to incorporate the future into the present.
Top Three Metaverse Companies As Of 2023
Who are the top three Metaverse companies as of 2023?
The company consistently leading the metaverse is Meta. Everybody knows that Mark Zuckerberg, Facebook CEO, has rebranded his company as Meta. This change is another indication that they are in the process of being pioneers in innovative changes.
Meta is working on several projects, including Cambria and the hardware Oculus VR. Considering that Zuckerberg is not sitting on the sidelines, they also have software projects dedicated to the metaverse.
Some projects that can elevate and keep Meta in the top three Metaverse companies are the ventures of their Horizon division. This includes the Horizon Marketplace, where members can buy and sell in the metaverse’s economy and trading world.
What’s fascinating about Horizon is that it comes in two different scales—the Horizon Home is a comfy and non-intimidating setup, while the Horizon Worlds open up a unique digital universe.
2. The NineHertz
Another metaverse company to watch out for is The NineHertz, a tenured company with impressive experience in the metaverse market under its belt. This company has established a reliable reputation for assisting other businesses in creating their own 3D virtual spaces and metaverse.
The NineHertz can be thought of as the mother of the metaverse, continuously building other metaverses. With technology as its main advantage, this metaverse company offers other organizations their own interactive and engaging 3D virtual spaces in the cloud. These can, in return, boost resources and expand their marketing reach.
The NineHertz is at the forefront of the metaverse. Companies that want to explore and participate in the metaverse use their expertise in developing new-age 3D reality environments tailored to their organization’s needs and clientele profiles.
3. Roblox Corporation
Metaverse users under the age of 12 will recognize the name. An American video game developer founded the company in 2004, with its headquarters in San Mateo, California. They’re one of the best at releasing immersive multiplayer interactive experiences for all ages, with over 1,600 employees.
The strength of Roblox comes from its own Roblox metaverse, assisted by its Roblox Studio, software, and desktop tools. In September 2021, they also acquired Sway, an AI company whose niche is filters and motion effects. To add to their continuous in-house growth, they acquired Loom.ai, a 3D avatar creator, in November 2020.
Roblox can be proud of its metaverse environment capacity and the engagement it offers its users. Their support for real-time facial animation, visual effects, and multiplayer experiences lands them in the top three metaverse companies as of 2023.
Metaverse Companies Challenges
What is the challenge for these metaverse companies?
These companies have all landed in the top three spots because of their continuous quest to improve their metaverse. Indeed, constant development and integration of new features are essential to keep metaverse users active and engaged.
Metaverse companies must ensure the following:
● Impressive Product Design And Engineering That Is Simple And User-Friendly
All the complicated codes needed to make the environment realistic must stay in the background because once the user is in the metaverse, the graphical user interface needs to be simple and friendly. Anybody who can read, write, and click should be able to become part of the metaverse.
● Real-Time Support, First Interaction Resolution
Need help in the metaverse because your purchase didn’t go through? Getting assistance from the support team should be an elevated experience compared to the phone and personal support people are used to. No back-and-forth emails, no transfers, but a recommendation and, better yet, a resolution the first time you get in touch with support.
● Inclusive, Engaged, And Safe Environment
Many people use the Metaverse as an escape. As it is a space where everyone can safely interact regardless of their differences, it is an inclusive virtual community. These companies need to be on top of this, especially regarding the privacy and safety of their users. They must slowly but surely eradicate issues about compromised accounts, identity thefts, and hacked accounts.