The term metaverse is brand new to investors, workers, executives and ,yes, industry analysts. In fact, it is so new, there are very few real-life, full-fledged metaverse experts today. However, it has been brewing for many years now. We are all very busy learning about this new space, new opportunities, and new risks. I believe this will continue to grow into an important sector, but we all have quite a bit to learn, writes JEFF KAGAN.
In fact, listening to the CEOs of quite a few technology companies, their opinion about the metaverse and the future are all over the map. These are the leaders of tomorrow, and there is no agreement on this new technology and how it will change the marketplace.
CEOs’ definitions of the metaverse are all over the map
The truth is, the metaverse may mean different things to different companies and different people. That is why we will see growth go up and down from a variety of companies over the next decade.
So, let’s take a closer look at what we know so far, the direction this industry is heading and some of the top companies who are leading the charge into this new world.
First, we have to know what we are talking about. What is the metaverse? When considering something new, we must first create a pegboard to hang on the wall in our minds where we can look at what the metaverse is today and where it is headed in coming years.
Investors, workers and executives will learn more of metaverse
Over time our understanding will increase multi-fold. The metaverse is one of the next generations of the internet. In fact, it’s growth in coming years will look like the Internet back in the early days of the early 1990’s.
Back in the day when the internet and the public World Wide Web were just starting out, things were very different from what we are using today.
Back then speeds were agonizingly slow, but then again, the internet didn’t have video, audio or anything else. It was just text. And to get onto the web, we had to dial-up a connection. You remember AOL or Prodigy, right?
Today, the internet is much more advanced. Today, we access the internet at blazing fast speeds, both wire line and wireless. Today, the internet is full of audio, video and so much more. Today, the internet, AI, IoT and more are empowering self-driving cars, impacting healthcare with telehealth and so much more.
And the internet is not stopping. It is continuing to grow and change. Speeds will continue to get faster, and content will continue to advance as other industries join in.
Metaverse is one of many next steps forward for internet
One area the internet will advance to is the Metaverse.
The metaverse is a computer-generated world that you will be able to enter, leaving behind the real world. Think of the movie The Matrix. This was a story about being lost in the metaverse.
The metaverse is the next step of the world we are entering using things like Oculus goggles. Oculus is owned by Facebook, now Meta. These kind of devices have been with us for several years.
So, we have been dabbling in the metaverse for several years already. It’s just that now, we have given the sector a name and more companies and industries are jumping in.
The metaverse is next generation using AR, VR, AI, IoT and more
The terms Augmented Reality (AR) or Virtual Reality (VR) will continue to play a large and larger role going forward.
However, these are more of a first generation, a basic generation, an early generation.
The metaverse is the next generation. The metaverse will take us further than we have ever gone before down into the rabbit hole.
No matter whether you like this new world or not, it is the future. And we are in the very early days of this next generation of products and services.
Metaverse is something no company wants to miss
In order to profit as an investor, worker or executive, you must understand this new world.
Many companies see plenty of growth as we move forward. Some companies will write the software, others will create the devices and still others will develop the computer systems and so much more, as we continue to upgrade to the metaverse.
Lately, it seems the term metaverse is starting to being uttered by the CEO of countless tech companies. That will only continue and in fact, accelerate.
This is a new and rapidly growing world that no executive, no worker and no investor want to miss.
Choosing winning metaverse companies is the challenge
That being said, some companies are all in to the metaverse. They will be long term players and direct the evolution of this new technology, world-wide.
Others are just skimming the edges, at least for now. Still others are not metaverse-centric, but they are using the term so not to be left out of this next generation of products and services.
If you are considering working for a company in this new space, or investing in the metaverse, choosing among the winners is key.
Some companies will be very important to the metaverse. Some will be important early on, and others will be important later, as it matures.
This is very similar to the internet itself. How it has changed over time. Companies who lead the way have also changed. Remember back in the early 1990’s and names like Prodigy, AOL, Yahoo and many others? They were once leaders. No more.
Today, the internet is led by another group of companies like Google, Microsoft, Apple and Twitter. As the internet changed over the last decade or two, innovation changed everything, time and time again.
IBM Watson owned AI years ago, now where are they?
Remember a decade ago when IBM Watson played Jeopardy on TV and caught the attention of the world. In the years since, IBM Watson has grown in importance in the world of AI in many different industries.
I recall around five years ago the IBM World of Watson event in Las Vegas. You would have thought they would be king of the AI hill forever.
But today, just a few years later, we don’t even hear much of anything about IBM Watson. They are still players in the game. Important players. But they no longer lead the charge into this new world.
Expect the same thing in the world of the metaverse. Different companies who lead this year may not even be heard from in another five or ten years. Others will.
Just remember there will be long-term players and they are who you are searching for.
Your job is to keep up with changes in metaverse
Your job is to keep a close eye on the changes in the metaverse space and keep up. It has been with us at a lower level for years. Today, it’s having it’s coming out party. It will continue to change and develop going forward.
I cannot tell you what the metaverse will look like a decade from today. No one can. Not yet. Heck, we are having a big challenge just understanding today’s metaverse.
But this is the same challenge we faced with the original internet a decade or two or three ago. We’ve been down this road before. This is just the next chapter in the story.
Companies in metaverse space; Meta, Qualcomm, Huawei, Microsoft and more
During this initial phase, there are many companies who will benefit from the Metaverse. A few of them will include Facebook or Meta, Qualcomm, Huawei, Microsoft, Apple, Nvidia, Roblox, Autodesk and so many others, both large and small.
In fact, there are so many companies who are in this space. And expect this list to continue to expand, as it always does.
The metaverse is like the wild wild West
The early years of the metaverse will be like the old West. Then as we move to the next generation of services, M&A and new technology will see the industry start to mature.
This process will take many years. So, going forward expect to see the metaverse grow and change, time and time again going forward.
Like every other growth journey, we have been on in recent decades, early on in this new journey, every company will talk a good metaverse story. Then as our understanding grows, we will get better at seeing the real winners and losers in this new space.
Don’t worry if you don’t yet have a grasp on what this new technology is and will become. Remember, many CEO’s of large and important tech companies don’t know either.
The metaverse is an exciting journey that is just starting. And will pay off for those who are plugged in and know. Whether we are investors, workers or executives, we need to stay alert for the continual changes in this rapidly growing and changing industry.
