Metaverse projects are blooming, and some companies are betting big on them being the Next Big Thing.
The term "metaverse" has spread through the internet and become a very hot topic. The idea of a huge, virtual online world is certainly exciting, and hundreds of companies have seen the apparent potential that the metaverse holds. But which big tech companies are making big investments into the metaverse, and why are they doing so?
1. Microsoft
As a long-standing player in the tech game, it's no surprise that Microsoft is taking further steps into the metaverse. In January 2022, the company announced that it would be acquiring Activision Blizzard, the enormous video game developer and publisher, as a segue into securing a major spot in the metaverse.
This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.
The $70 billion deal is Microsoft's biggest ever and will allow the company to develop Microsoft-backed games and software within the metaverse in the coming years.
2. Meta (Formerly Facebook)
In November 2021, Facebook announced that, quite fittingly, it was changing its name to Meta. This was done as an attempt to usher in the up-and-coming metaverse, and it did certainly get people talking.
Cringe-inducing introduction video aside, Meta has invested a total of $10 billion into acquiring and developing both hardware and software that will be used to provide VR capabilities within the metaverse. The company also plans to invest in AR (augmented reality), another emerging technology with a promising future.
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