Top 5 Opportunities For Startups To Create Metaverse Layers

Top 5 Opportunities For Startups To Create Metaverse Layers

Metaverse News
September 13, 2022 by Diana Ambolis
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Facebook, which will be known as Meta as of October 2021, is the first thing that springs to mind when we discuss the Metaverse. It raises the bar for the virtual world and improves interpersonal interactions generally. The Metaverse is a 3D virtual world that focuses on social ties, to put it simply. You will
Top 5 Opportunities For Startups To Create Metaverse Layers

Facebook, which will be known as Meta as of October 2021, is the first thing that springs to mind when we discuss the Metaverse. It raises the bar for the virtual world and improves interpersonal interactions generally. The Metaverse is a 3D virtual world that focuses on social ties, to put it simply. You will experience a different virtual life in this other universe.

Building the metaverse is a top priority for multibillion-dollar corporations and startups. Additionally, they are making and purchasing space in the meta world. Thus, we might conclude that the Metaverse offers enormous business prospects in form of various Metaverse layers.

Since then, there have been an increasing number of announcements concerning the creation of virtual worlds from companies like Microsoft, Nvidia, and Google. Working on the technology are even IT firms like Tech Mahindra and Infosys. According to a Citi analysis, the metaverse market might be worth up to $13 trillion in its broadest sense.

But how do startups contribute to the development of the metaverse? To find a solution, we started our study and read a few reports that had been released. Our research identified five opportunities for business owners and startups wishing to create more metaverse layers.

1. Technology used in Avatars

Avatars will undoubtedly remain important in virtual worlds, both in consumer and business use cases, even though we’re probably still a decade away from reaching the metaverse’s vision.

Many businesses are attempting to improve avatar technology from 2-D solutions like the synthetic video to real-time AR filters that turn the person into a digital clone. For instance, HourOne is a platform for creating artificial videos that enable users to type text to produce high-quality videos based on fictional human or animated characters.

2. Online Fashion

The metaverse is said to be a $10 trillion possibility by some analysts and reports, with virtual goods purchases accounting for a large portion of that value. Virtual fashion, which encompasses anything from high-end avatar attire to gaming accessories, is critical, helping firms stand out online and generate new revenue streams from their creations.

3. Gaming 

We all enjoy playing video games, but gaming will advance significantly in the metaverse. American people adore gaming, one of their most important sources of amusement.

According to reports from Gartner, Inc., people will spend 1.5 hours a day in the metaverse, but there are technological and innovative differences between mobile gaming now and metaverse gaming. As users can earn money by playing entertaining games that enhance the gaming experience, play-to-earn models promote player retention. They consequently build solid communities that attract new users each month.

Virtual worlds like Sandbox, Horizons, Omniverse, Roblox, etc., can serve as productive construction sites for game creators to create their following platforms, much like Facebook gaming in its early days.

4. Recreation

The metaverse is about to undergo a revolution in the entertainment industry thanks to virtual music festivals on Fortnite that hundreds of people can watch live at once and virtual travel in VR. Consider the improvements in user experience that might result from switching from 2-D to immersive, social, live entertainment.

For athletic events like cricket games, football games, or other events, users will have the chance to purchase the most excellent viewing seats in the house. Furthermore, entertainment firms that can provide instruction or education through their content or delivery method may have quick acceptance.

Overall, we can conclude that the metaverse is still in its infancy and that no one has yet created the ideal metaverse platform. Although this metaverse layer is still in the early stages of development, businesses have already moved in and plan to remain. Startups will significantly advance the notion of a future internet that is free and decentralized.

5. Infrastructure

Zero-trust, off-chain, and on-chain intelligent contracts. These are merely a portion of the metaverse’s infrastructure layer. Numerous Web2 services that were effective for storage, payments, or security have been reimagined for Web3 cryptography and 3-D content.

Building Web3 and future metaverse tech stacks offer several potentials for innovation. For gaming, retail, and AR/VR creators wishing to manage their 3-D content across platforms smoothly, there are several options available, including Echo3D, CMS, and many others.

Also, read – Five Exciting Metaverse Startups to Watch in 2022

Bottomline

Overall, the metaverse layers are still in their early stages of development. Even on the definition of the term, we can’t seem to agree. Startups will significantly advance the notion of a future internet that is free and decentralized. However, the sheer amount of talent and money entering the market ensures its permanence. Numerous corporations, including Apple, Google, Samsung, Tesla, and many others, work with startups to create the metaverse.