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Opportunities for Tech Companies in the Metaverse

Tech Companies in the Metaverse

Hello, and welcome to another post in our Metaverse series! If you’re new, we’d like to take a moment to remind you that we have a ton of other posts on this topic that will help you get a better grasp on the terminology we’ll be using, so be sure and check those out here: If you’re a repeat offender visitor, welcome back! We’re happy to have you and grateful you enjoy reading what we write.

Today, we’ll be discussing opportunities for tech companies in the Metaverse, so grab a coffee and a biscuit, and let’s get going.

Companies that produce technology or work in the technology sphere (like CloudQ) are cornerstones of the future. Without tech companies, everything being invented today (like VR gloves that have haptic tech or whole universes you can access with a headset) would simply sit on a shelf and be unusable. Tech companies drive the innovation of the platforms where these inventions are used, and they help build virtual worlds where we can explore the world around us in a richer way.

Things that are possible now weren’t twenty years ago. If you remember flip phones, you’ll have an idea of what we’re talking about. Since digital communication went mainstream (check out our History of posts for some background on that), it’s simply exploded. We know the same will happen with the Metaverse because of tech companies, artists, and inventors.

Here’s a quick rundown of a few of the things tech companies will be able to influence and change as the Metaverse becomes more and more used around the world.

How Data is Stored

Most digital information is stored in three types of locations: 1. Endpoints, which includes all internet of things (IoT) devices. 2. The edge, which includes infrastructures. 3. The core, which is traditional data servers and cloud data centers. Over 64.2 zettabytes (as of 2020) is stored on servers in hyperscale data centers around the world. As we continue to produce data, we’ll need new ways to store it, and that’s where tech companies will have a huge opportunity to raise the bar. With the large-scale launch of the Metaverse, we’ll produce data on a much larger scale, and storing it in new and innovative ways will be one of the keys to success. Around 100 hyperscale data centers are constructed every two years. We need a better solution.

How Data is Used

Right now, data is used to hone a user’s location, make purchases easier, and store all sorts of facts about that user: color preference, bank account information, social security information, food preferences… Pretty much anything you can think of, there’s a databit on it. Processing that data and compiling it into a program which will spit out something useful to do with it is where tech companies will shine. For example: A tech company creates a program that knows a user’s favorite beverage is coffee, so wherever that user happens to be, they can be shown an ad relevant to their preference. This will become a keystone of the Metaverse, and if tech companies can create the right software at the right time, they’ll move innovation forward (they just have to beat Meta to it).

How Interactions Occur

People will be interacting with each other, the world around them, games, and much more on a gargantuan scale once the Metaverse goes mainstream. It will be up to tech companies to write code to influence those interactions. In a video with Meta CEO Mark Zuckerberg, he shows how creators might change their art so viewers can see it in a different way. There’s a program behind that, and more of those kinds of programs will be needed. It’s a unique opportunity for tech companies, and one they need to be looking for how to take advantage of.

How the Metaverse and the Real World Interact with NFTs

Non-Fungible Tokens (NFTs) are the art, consumables, and skins that will prevail in the Metaverse. How those items interact with the real world will make a ton of difference in their worth. Most of the older generations don’t understand why owning something on the blockchain will ever do them any good, but the newer generations (millennials, gen Zers, and beyond) won’t think twice about wanting things in the real world and the virtual one. They’ll seek out things they have IRL to transfer to the virtual world, and vice versa, and there’s where tech companies have an opportunity to shine.

There are so many ways tech companies will influence the Metaverse and how it runs, and there are no limits to the opportunities tech companies will have in the Metaverse (because there are no limits there like there are in the real world). All that will hold those companies back are their imaginations and skillsets.

We hope you enjoyed this article, and we hope you’ll be back for the next one where we’ll discuss some more Metaverse topics we have up our sleeves. Thanks for reading!

Contributor

Jo Michaels

Marketing Coordinator

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