Although Big Tech has always been a huge competition in the grand scheme, the metaverse may be the first time all of these organizations are competing on a level playing field.
Prior to the metaverse being conceived, companies like Apple, Google, Meta, and Microsoft have all been able to stay relevant thanks to their core unique offerings.
While certain features of these companies may compete with one another, their foundational products and services still differ and create healthy economic competition.
However, the entrance into the metaverse gives even more companies a chance for a piece of the pie. Although there is room for plenty in this Wild West, only a few will come out as winners.
Meta has perhaps made some of the biggest moves towards realizing the metaverse, undergoing an entire rebrand dedicated to the movement and investing billions into the hardware and software needed to make it a reality.
However, Meta’s typical business model that thrives off of ad revenue has been hindered by Apple’s recent introduction of limiting data tracking. This means the Meta will need to find another means to make money in the metaverse.
As companies navigate how they want to compete within the metaverse world, determining which parts they can excel at will be key.
For instance, Facebook’s attempt at entering the smartphone industry failed because Apple and Android dominate the market. The same can be applied to the metaverse, where companies will be able to offer products and services that they can conquer, rather than touching on portions they have little to no experience in.