Before Facebook changed its name to Meta Platforms, a number of companies were already developing the software and hardware to create the metaverse. Facebook is transitioning into a metaverse – rather than a social media – company, by investing heavily in augmented and virtual reality (AR/VR). Its VR environment Horizon will be accessed through Quest headsets.

The metaverse is a shared virtual platform accessed through different devices and digital environments. It could take years to fully realize this idea but already, Roundhill Investments has allotted an exchange-traded fund (ETF) to track and profit from its development. 

Video game platform Roblox Corporation sees the metaverse as a place where people can learn, work, play, shop, create, do business, and socialize through 3D experiences. This version will have a virtual economy and Robux currency.

Microsoft CEO Satya Nadella, meanwhile, is working on an “enterprise metaverse” where mixed digital and physical worlds will converge.

Nvidia has its Omniverse platform which is used for projects that need simulations of real-world buildings and factories. Similarly, Autodesk develops programs for architects and engineers to design buildings and products and build virtual gaming and entertainment environments.

Unity Software, currently used to design video games, could be sold as tools or technology to build the metaverse and Snapchat’s owner Snap, which builds avatars and AR filters overlaid on the real world, launched AR glasses for developers to create experiences.

Other companies that are creating their own metaverses are Tencent Holdings, Epic Games, Amazon.

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