Companies Are Racing To Establish Standards For The Metaverse

The metaverse has quickly come to the forefront of recent discussions, and companies are quickly jumping aboard to get ahead of the already crowded sector. 

Although the concept of the metaverse isn’t new, the push to accelerate this idea is. 

For instance, Microsoft just announced it would be acquiring video game firm ActivisionBlizzard for its metaverse expansion. Even Facebook underwent an entire rebranding, changing its name to Meta to solidify its role in the metaverse.  

The need for a more advanced version of the internet is growing, and companies realize that focusing on the metaverse for business strategy could lead to a promising revenue stream. 

One of the most stark differences between the metaverse and the World Wide Web is its entanglement into our real lives. Going beyond social media profiles, the metaverse will feature virtual neighborhoods, parks, clubs, and more. 

However, there are major roadblocks that will need to be addressed before realizing this concept. Big Tech continuously deals with issues of hate speech, misinformation, and other issues that are still plaguing society, and a more immersive digital world could amplify these problems. 

But these challenges may still be in the distant future. Because the metaverse is in infancy, there are no standards as to what it will exactly look like. 

However, the next few years will see companies like Facebook, Microsoft, and even Walmart racing to define what the metaverse is and how it will be intertwined into our society.