1、 METAVERSE M A R K E T R E P O R T WWW.METAVERSEINSIDER.TECH 2|Metaverse Market Report INTRODUCTION The Metaverse may sound like a buzzword that has taken off only recently,but it describes the emergence of a set of technologies that have been in development for decades.While the concept of Metavers

2、e is still new,many established companies are starting to take notice.Our Metaverse Insider Market Map segments the myriad companies and technologies involved in this emerging industry.The purpose of the Metaverse Insiders Market Report is to explain how we got here,the potential of the market,and g

3、ive our opinion on the segments that one can focus on.The evolution of the internet led to many Web 2.0 giants being formed.This included tech companies such as Facebook for social networking,Google for search engines,and Netflix for entertainment.At the Metaverse Insider,we believe we are at an inf

4、lection point.Many of these tech companies will either adapt to the change in the industry or struggle to keep up.In this report,we will cover the history of the Metaverse and the significant events that led us here.We will also investigate where we think the market is heading based on our months of

5、 research and studying the growth of the market.Metaverse Insider will continue to publish news and updates regarding the metaverse industry,including a quarterly Metaverse Market Report.Please subscribe to our newsletter to keep updated with all things Metaverse.PRESENTING PARTNER 3|Metaverse Marke

6、t Report WE ARE:WEB CHANGE AGENTS We design and deploy Web3 transformation programs for Brands ready to claim their place in the next generation of commerce and consumer experiences.WE SPEAK YOUR LANGUAGE-NO BUZZWORD BINGO Founded by seasoned professionals from the technology,marketing and strategic

7、 advisory industries.WE WALK THE TALK-WERE BLOCKCHAIN NATIVES Powered by a global team of strategists,marketers,coders,and creators with hands-on experience building,operating,and scaling blockchain projects,campaigns&communities across the full spectrum of evolving Web3 experiences.HERE TO BUILD BU

8、SINESSES-NOT JUST BUZZ On a mission to help our clients capture new enterprise value;transforming their business and brands platforms to reach&engage the next generation,blockchain-enabled consumer.MULTIVERSE ACCELERATOR-WERE INTEROPERABLE Leveraging our large network of established metaverse operat

9、ors,leading ERC20 token projects,and crypto-native communities we can accelerate the launch and scaling of our clients metaverse initiatives.VOLVING NTERPRISES ON BRAND:ON CHAIN GET IN TOUCH DEGENS3GEN.IO 4|Metaverse Market Report TABLE OF CONTENTS INTRODUCTION.2 3GEN.3 TABLE OF CONTENTS.4 METAVERSE

10、 INSIDERS Q3 HIGHLIGHTS.6 KEY TAKEAWAYS.7 HOW DID WE GET HERE?4 BIG TIMELINES.8 METAVERSE TIMELINE OVERVIEW.9 EARLY TIMELINE OF VIRTUAL REALITY.10 1956-THE INCEPTION OF VIRTUAL REALITY.10 1977 A MAP USING VIRTUAL REALITY.10 1977 GESTURE RECOGNITION.10 1997 USE CASES FOR VIRTUAL REALITY.10 2007 FIRST

11、 MAJOR USE CASE FOR PUBLIC USE.10 TIMELINE OF VIRTUAL REALITY HEADSETS.11 1960 TELESPHERE FIRST HEAD MOUNTED DISPLAY.11 1961 FIRST MOTION TRACKING HEAD MOUNTED DISPLAY.11 1968 FIRST VIRTUAL REALITY HEAD MOUNTED DISPLAY.11 1995-VIRTUAL HEADSETS TO MARKET.11 2012-THE BIRTH OF OCULUS HEADSETS.11 TIMELI

12、NE OF THE METAVERSE CONCEPT.12 1992 THE TERM METAVERSE COMES INTO BEING.12 2003 THE FIRST METAVERSE?.12 2011 READY PLAYER ONE.12 2020 DECENTRALIZED METAVERSES.12 5|Metaverse Market Report TABLE OF CONTENTS CENTRALIZED METAVERSES.12 TIMELINE OF DECENTRALIZATION AND BLOCKCHAIN TECHNOLOGY.14 AN OVERVIE

13、W OF THE METAVERSE.16 MIXED REALITY.18 VIRTUAL REALITY.18 AUGMENTED REALITY.18 HEADSETS.19 VIRTUAL REALITY HEADSETS.19 AUGMENTED REALITY GLASSES.19 WEB 3.0.20 UNTAPPED OPPORTUNITIES.21 VIRTUAL REALITY DEVELOPMENT.22 ECOMMERCE.23 PROFESSIONALIZATION OF VIRTUAL ASSETS.24 CONCLUSION.25 KEY TAKEAWAYS.26

14、 ABOUT METAVERSE INSIDER.27 DISCLAIMER.28 Author:Wazarat Ali Hussain,Market Intelligence Analyst wazmetaverseinsider.tech 6|Metaverse Market Report METAVERSE INSIDERS Q3 INDUSTRY HIGHLIGHTS JULY 2022 Dubai Metaverse Strategy-The government of Dubai announced their Metaverse strategy which includes i

15、ncreasing the presence of blockchain and metaverse companies by five times in five years.This announcement makes it into our highlights as this is the most ambitious metaverse plan by any government yet.Barcelona FC partners with BCN Visuals-Barcelona FC launched an exclusive NFT collection.The firs

16、t NFT titled In a Way,Immortal,which is inspired by Johan Cruyff,a legend of the football club.This NFT collection has made it into our highlights as it was auctioned by Sothebys,one of the largest brokers of fine arts,jewelry,and collectibles.AUGUST 2022 Capgemini&Unity Announce a Global Alliance P

17、artnership -Capgemini and Unity joined forces to help organizations everywhere explore and seize business opportunities and the benefits of immersive and metaverse experiences across industries.The joint R&D projects by Unity and Capgemini Metaverse Lab can cultivate some of the most significant met

18、averse projects.Ready Player Me Announces$56M Series B -Ready Player Me announced it raised$56 million in new funding led by Andreessen Horowitiz.This investment can be critical for developers looking to build interoperable avatars and digital assets.SEPTEMBER 2022 Atari Reveals Sunnyvale-Atari has

19、announced the launch of Atari Sunnyvale,a massive social and gaming experience in The Sandbox.Roblox continues to be a leading metaverse as brands like Nike,Burberry,and now Atari chooses this platform to build their virtual space.NVIDIA-Omniverse Cloud Services&OVX Computing Services-Nvidia unveile

20、d Omniverse cloud,software,and infrastructure as a service offering.Moreover,they unveiled the second generation of OVX Computer Systems.These offerings make NVIDIA one of the worlds leading metaverse companies.Companies like BMW Group,Lenovo,and Jaguar Land Rover are all NVIDIA customers as they pi

21、vot their organizations towards the metaverse.7|Metaverse Market Report KEY TAKEAWAYS The Metaverse Industry is still evolving.The Metaverse as a concept is still not defined.As Metaverse Insiders Market on Page 16 shows,the metaverse industry covers a vast spectrum of new evolving technologies,incl

22、uding blockchain,5G,and AI.This industry does not only rely on Virtual and Augmented Reality.Decentralization from blockchain,Connectivity from 5G,and rapid development from Artificial Intelligence are just a few of the components of this fast-evolving industry.The WEB 3.0 Companies may take over th

23、e industry.The concept of decentralization really materialized in 2008 when the whitepaper for Bitcoin was issued by the alias of Satoshi Nakomoto.The idea that gave birth to Bitcoin eventually took over other industries with Ethereums introduction.With the Ethereum blockchain users were able to cre

24、ate decentralized applications.Today,Web 3.0 is closely tied to decentralization and open-source applications.Web 3.0 companies are introduced(page 20)and many of them may be the next big tech company.There are still a lot of opportunities.With most of the decentralized and centralized virtual world

25、s being introduced in the past two years,the industry is still very new.As mentioned in our first takeaway,the industry is still evolving.Which means there are still many opportunities for Developers and Investors.We truly believe,virtual reality development is a huge opportunity as many companies g

26、ive developers a chance to create applications on their platforms.Virtual items can be sold through ECommerce platforms.With the use of augmented reality,the sellers of real products will be able to enhance their sales pages as well.Lastly,virtual assets are still an undiscovered area.We have seen t

27、he rapid rise(and fall)of non-fungible tokens.However,NFTs of music,real estate,and virtual designer products seem to be something to look out for.8|Metaverse Market Report HOW DID WE GET HERE?4 BIG TIMELINES To understand how we got here,we look at historical moments that defined the Metaverse mark

28、et landscape today.While many milestones have led to the introduction of the metaverse industry,we discuss timelines of four key areas.We explore these four historical timelines 1.The inception of Virtual Reality 2.The birth of the headsets to explore the metaverse 3.The conception of the term“Metav

29、erse”4.The Decentralization of Virtual Worlds Cryptographically Secured Chain of Books Snow Crash VR Headsets to the Market Use Cases for VR Second Life 9|Metaverse Market Report METAVERSE TIMELINE OVERVIEW The Inception of VR First Head-Mounted Display First Motion Tracking Head-Mounted Display Fir

30、st VR Head-Mounted Display A Map Using Virtual Reality and Gesture Recognition The First Major use of Case for VR Decentralized Currencies Ready Player One Oculus VR Launched Ethereum Application 1991 1992 1995 1997 2003 2007 2008 2011 2012 2014 1956 1960 1961 1968 1977 2018-2021 Virtual Worlds Laun

31、ched 10|Metaverse Market Report EARLY TIMELINE OF VIRTUAL REALITY 1956 The inception of Virtual Reality In 1956,a cinematographer named Morton Heilig created Sensorama-the first-ever Virtual Reality machine assembled(patented in 1962).i This machine combined 3D video,audio,vibrations,and other effec

32、ts to create a VR environment.According to Heilig,this was the cinema of the future.At the time,six short films were developed using this technology.2D technology has continued to be the primary source of entertainment in cinemas and televisions.Perhaps,Heilig had not realized where the immediate us

33、e of his technology would be.1977 A Map using Virtual Reality In 1977,MIT created an experience where users could virtually wander across Aspen city.This virtual experience was called Aspen Movie Map.ii It allowed three modes:summer,winter,and polygons.Like Google Street View,this experience was cre

34、ated by photographs taken in a moving car.Perhaps,this was the first experience which suggested users could travel to different places using virtual reality.1977 Gesture Recognition In 1977,Sayre Gloves were created by Sandin and Defanti.iii The gloves were wired and allowed a users hand motions to

35、be monitored.Gesture Recognition was introduced as the users finger movements into electric signals were recorded.This was a huge milestone as these gloves realized the importance of haptics.1997 Use cases for Virtual Reality In 1997,Georgia Tech and Emory University researchers used Virtual Reality

36、 to create war zone scenarios.These were designed for Vietnam war veterans as exposure therapy for PTSD.iv This project was also called Virtual Vietnam.This was one of the first prominent use cases for virtual reality,which was used by an established organization to simulate a real-world scenario.20

37、07 First Major Use Case for Public Use In 2007,the first critical use case of Virtual Reality was Googles Street View.Google hired an Immersive Media contractor to capture four out of five cities initially introduced.v Immersive Media had a patented dodecahedral camera array on a moving car.This was

38、 a breakthrough in the industry as the general public was able to see the use case of virtual reality for free in the most popular search engine at the time.11|Metaverse Market Report TIMELINE OF VIRTUAL REALITY HEADSETS 1960 Telesphere First Head Mounted Display In 1960,Helig patented the Telespher

39、e Mask,the first-ever head-mounted display.This headset provided stereoscopic 3D images with broad vision and stereo sound.There was no motion tracking at this point.1961 First Motion Tracking Head Mounted Display In 1961,Headsight was created,which was a motion-tracking device.It had a built-in vid

40、eo screen for each eye and a head-tracking system.vi This display allowed the military to look at hazardous situations remotely.A remote camera imitated the head movements so the user could look around the setting.However,this headset was not used for virtual reality.1968 First Virtual Reality Head

41、Mounted Display In 1968,the first Virtual Reality head-mounted display,The Sword of Damocles,was invented.This head-mount was connected to a computer rather than a camera and was able to show simple virtual wire-frame shapes.It could not be a commercially viable product as the head-mounted display w

42、as deemed uncomfortable,and it required users to be strapped in because it was suspended from the ceiling.1995 Virtual Headsets to Market In 1995,the Virtual Boy console was released.It was a head-mounted console which displayed stereoscopic 3D videos.While this was a commercial failure,the Virtual

43、Boy laid the foundation for other VR headsets to be built in the future.As innovation increased in the Virtual Reality headset space,startups like Oculus were born.2012 The birth of Oculus Headsets A Kickstarter campaign by an American entrepreneur called Palmer Luckey was launched.This campaign was

44、 for a Virtual Reality headset called Oculus Rift,which raised$2.4 million.Oculus headsets revolutionized the Virtual Reality headset market.Oculus,as a company,grew at a rapid rate.Just two years later,the business was purchased by Facebook,which saw the opportunity presented by the rapid growth of

45、 the VR industry.These headsets changed the sector as significant VR headsets development happened after this acquisition.Sony,Google,and Samsung all announced their own VR headsets as they realized a new market was being created for these headsets.12|Metaverse Market Report TIMELINE OF THE METAVERS

46、E CONCEPT 1992 The term metaverse comes into being In June 1992,Neal Stephenson released a novel called Snow Crash.vii The metaverse as the concept we understand today was arguably first used in this novel.The characters used this virtual world to escape from their world.Today,this book is a cult cl

47、assic,especially among the entrepreneurs in Silicon Valley.2003 The first Metaverse?In 2003,a virtual world platform called Second Life was introduced.Second Life is often regarded as the first metaverse as it had a three-dimensional world with the user represented as an avatar.viii Second Life laid

48、 the foundation for many other popular entrants into the metaverse,including World of Warcraft,Minecraft,and Fortnite.While we call all these games metaverses,they were just introduced as multiplayer games.2011 Ready Player One In 2011,Ernest Cline released a book called Ready Player One.ix This was

49、 another book that talked about being immersed in an immersive world that will help us escape from reality.Like Snow Crash,this book is prevalent among the early adopters of the metaverse.In 2018,Steven Spielberg made it into a movie.In this movie,the concept of a virtual world had been visualized i

50、n front of the public.2018 2020 Decentralized Metaverses The Sandbox,a game released in 2012 was acquired by Animoca Brands in 2018.The idea behind this acquisition was to build it for a blockchain version of the game.In April 2022,this is a hugely popular decentralized metaverse with a valuation of

51、$4 billion.x 2 years later,in 2020,Decentraland was launched.This decentralized metaverse gateway allows users to run an in-game economy through their native MANA cryptocurrency.Users can also purchase their land which they can build upon.They can use this virtual land to generate income through hol

52、ding events,renting it out or flipping it for a profit.2021 Centralized Metaverses 2021 was a breakout year for many of the metaverses.Metas Horizon Worlds is a notable virtual reality online video game with an integrated game creation system.It was officially released in North America for users ove

53、r 18.Horizon Worlds is quickly gaining popularity thanks to the sales of Metas Quest VR headsets and extensive marketing.After their Superbowl advertisement,Metas Horizon Worlds hit 300,000 users.xi 13|Metaverse Market Report There are some distinctions between Centralized and Decentralized Metavers

54、e Gateways.Here are some differences both have their pros and cons.Centralized Metaverse Decentralized Metaverse Control Core Controlled Controlled by single entity Community Controlled Open-Sourced Platform Token Validity Tokens valid only in the metaverse Cross Platform Tokens Blockchain Technolog

55、y Resources More Capital for Mixed Reality Development Less resources to improve user experience User empowerment Reduced Empowerment for Users Empowered users Collaboration Increased collaboration between departments Risks Organizational Silos Talent Flexible Talent Deployment Difficulty deploying

56、talent themselves.They ought to be able to interact with each other in a into something thats more computing oriented.”Paul Brody,EY 14|Metaverse Market Report TIMELINE OF DECENTRALIZATION AND BLOCKCHAIN TECHNOLOGY 1991 Cryptographically secured chain of blocks In 1991,Stuart Haber and W.Scott Storn

57、etta envisioned the idea of blockchain technology.They worked on a project that involved a cryptographically secured chain of blocks whereby no one could tamper with the documents timestamps.This technology would be massive in the evolution of the financial industry decades later.Moreover,along with

58、 virtual reality,this technology was to play a massive part in the emergence of the Metaverse.2008 2009 Decentralized Digital Currencies are introduced.In 2008,the financial markets was in the midst of a recession.Around this time an unknown person or a group of people using the name Satoshi Nakamot

59、o released a white paper which introduced the world to blockchain technology.This was first implemented in January 2009,when Bitcoin was initially released.This technology has had a massive impact in the financial marketplace.This technology is perhaps the final jigsaw in the puzzle in the metaverse

60、 ecosystem.2013 2015 Blockchain Technology with other capabilities In 2013,Vitalik Buterin realized that there were certain limitations to Bitcoin.In addition to being a peer-to-peer network,Ethereum added additional capabilities that turned out to be a pivotal feature in blockchain technology,Web 3

61、.0,and the subsequent extensive development of the internet.In 2015,Ethereum was officially launched.This blockchain technology could support smart contracts.While other blockchain technologies continued to develop,Ethereum is still the most popular blockchain for non-fungible tokens and the economy

62、 in general in most decentralized metaverses.Xii 15|Metaverse Market Report CEO SPOTLIGHT ROBERT GRANDE,CEO GET IN TOUCH DEGENS3GEN.IO As an early adopter of blockchain technology,Roberto has hands on experience building,operating,and scaling projects,campaigns,and communities across the full spectr

63、um of evolving Web3 experiences.Recognizing that building the“brand chain”requires collaboration across disciplines,Roberto founded 3GEN,a dedicated Web3 advisory group powered by brand and blockchain natives.3GEN helps clients design and deploy Web3 transformation initiatives designed to create new

64、 enterprise value,expanding business and brand platforms into the next generation of commerce and customer experiences.GET IN TOUCH DEGENS3GEN.IO 16|Metaverse Market Report AN OVERVIEW OF THE METAVERSE The Metaverse Ecosystem is enormous and growing.The Metaverse Insider released a Metaverse Market

65、Map where the current landscape of the Metaverse was outlined.Some examples of companies involved in these markets are listed in the following graphic,but this is understandably not exhaustive.Metaverse Insider will be releasing a data platform which will have more comprehensive data for the metaver

66、se market.According to the Grayscales Research article,published in November 2021,the total market cap of the leading Web 3.0 Metaverse crypto network sits at$27.5 billion.However,the addressable market is much higher as Web 3.0 companies start to infiltrate different industries dominated by Web 2.0

67、 companies.Grayscales research shows the addressable metaverse market divided into different categories.xiii constructing it.”Cathy Hackl,Journey 17|Metaverse Market Report GLOBAL METAVERSE POTENTIAL TOTAL ADDRESSABLE MARKET Metaverse Insider Market Sizingxiv Global X Metaverse Potential Total Addre

68、ssable Marketxv$1.40T$1.20T$1.00T$0.80T$0.60T$0.40T$0.20T$0.00T 100%90%80%70%60%50%40%30%20%10Developers/Creators Hardware Digital Events Social Commerce Advertising 18|Metaverse Market Report MIXED REALITY Mixed Reality is the integration of digital worlds into physical reality.Mixed Reality is typ

69、ically understood as either Augmented Reality(AR)and Virtual Reality(VR).The purpose of Mixed Reality is to free users from being screen-bound and enabling the integration of technology into their day-to-day lives.If done correctly,Mixed Reality can perhaps be a great supplement to our lives and enc

70、ourage self-sufficiency.To understand Mixed Reality,we need to understand Augmented Reality and Virtual Reality properly.Virtual Reality The concept behind Virtual Reality is to create an immersive computer-generated environment where users can experience their surroundings as if they are present in

71、 the space.VR technology can be used to play video games,train for a sport,or even attend virtual events like a concert.Augmented Reality Augmented Reality is an interactive experience of a real-world environment where this technology can enhance the experience of the real world.This technology inco

72、rporates visual,auditory,and haptic technologies to add to the current human experience.AR technology can be used for work and play video games Virtual Reality+Augmented Reality=Mixed Reality 19|Metaverse Market Report HEADSETS Mixed Reality,addressed on the previous page,can only be accessed by hea

73、dsets.Headsets in the Metaverse Industry can be considered the portal through which users access virtual worlds.These headsets have unique characteristics suited for different purposes.Many of these headsets provide full immersion in to a virtual world(Virtual Reality Headsets)while some are glasses

74、 which enhance our lives in the real world(Augmented Reality Glasses).Thus,it is essential to discuss these headsets in the market.Headsets are not used solely for gaming and leisure experiences.They are expected to be used across commercial industries such as medicine(enhancing operations),educatio

75、n and training(richer learning experiences),amongst others.Virtual Reality Headsets Virtual Reality Headsets are an essential aspect of entering a virtual world.While VR headsets have been in the market for a long time(as previously discussed),there does not seem to be a lot of competition in the ma

76、rket yet,as Oculus has taken a substantial lead in sales,selling 8.7 million units in 2021.These were 78%of all Virtual Reality Headset sales last year.xvi However,we anticipate an increase in competition with HTC and Pico improving their headsets with new upgrades and Apple reportedly getting to la

77、unch their version of Mixed Reality glasses.xvii Augmented Reality Glasses Augmented Reality Glasses are worn to enhance a users day-to-day life.While these glasses are less understood than Virtual Reality Headsets,AR glasses have a huge potential to become a staple in the future for working profess

78、ionals and people who want to enhance their lives.The AR glasses in the market today,like Metas Rayban Stories and Spectacles by Snap,are mainly used to take pictures,record videos and make phone calls.On the other hand,AR glasses like Microsoft Hololens are used to enhance the lives of working prof

79、essionals.The AR glasses that better users day-to-day lives are perhaps yet to be made.20|Metaverse Market Report WEB 3.0 Over the past few years,users are becoming increasingly conscious of their data and who can control it.In recent times,users of tech are doubting whether they should be giving so

80、 much of their data and subsequently power to centralized tech companies.Decentralization seems to be popular among people adopting core technologies enabling the metaverse.Thus,what had started as a whitepaper by the alias,Satoshi Nakamoto is impacting the finance world and greatly impacting the ne

81、w wave of technologies and the Metaverse.Web 3.0 is a phrase used to describe the direction the World Wide Web is headed,primarily through the use of blockchain technology.As the internet world has evolved,the eras have been divided into Web 1.0 and Web 2.0,and now Web 3.0.The concept is a useful wa

82、y to explain how specific industries within the internet have evolved.Web 1.0 was the earliest version of the internet.It can be considered the first ever“iteration”of what was to become a growing,evolving,medium that eventually expanded into a platform with profound multi-functional uses.Web 2.0 ca

83、ptured these technologies and aggregated them into data which could be used to create a common platform that people used on the internet.In the table below,we explain how industries evolved from Web 1.0 to Web 2.0.Web 1.0 Forums Websites Read Only Web Dial up Internet Screen Scraping Web 2.0 Social

84、Media Websites&Applications Read and Write Web Broadband Internet APIs The focus of Web 2.0 was almost bringing applications to supplement the web pages.With Web 3.0,the concept is to perhaps change the over-centralization in the tech world and give the users more control and monetary interest.We in

85、vestigate some of the companies that have been born in a new era in the world of the internet.Industry Web 2.0 Web 3.0 Social Network Facebook Decentraland/The Sandbox Browser Google Chrome Brave Information Wikipedia Semantic Web Medium of Exchange Paypal Metamask Gaming Fortnite Axie Infinity 21|M

86、etaverse Market Report UNTAPPED OPPORTUNITIES As we understand the history of the metaverse and the current state of the industry,we can truly understand the current state of the metaverse companies.This also helps us predict what can happen in the future.We now investigate three significant opportu

87、nities in this space.We believe the following are areas that have not fully realized their full potential.*Please note this is not financial advice.We believe the following three areas in the metaverse have untapped opportunities.1.Virtual Reality Development:Developing high fidelity 3D content is i

88、n high demand.2.Ecommerce:Enhancing the shopping experience through Augmented Reality has great potential.3.Professionalization of Virtual Assets:As NFT projects have taken off,investors are still not confident about the long-term application of this technology.According to Bloomberg,the Metaverse M

89、arket,which was a$500 billion in 2020(when virtual worlds started to gain popularity)will be a$800 billion dollar market by 2024.This represents an annual compound growth rate of 13.1%based on Bloombergs analysis.xviii Metaverse Market Growth Outlook 1,000 800 600 400 200 30%20%10%0%-10%0 2020 2021

90、2022 2023 2024-20%Social Media Ads Live Entertainment Gaming,AR&VR Hardware Gaming Software.Services&Ads 22|Metaverse Market Report VIRTUAL REALITY DEVELOPMENT We have seen graphics in 2D evolve over the past few decades as technology has improved dramatically.Gaming enthusiasts are aware of graphic

91、s getting increasingly better to a point that they have become ultra-realistic.However,the challenge to replicate these graphics in 3D is complicated.Simple graphics like creating 3D arms in virtual reality are a challenge for developers.Thus,there is a great need for talent as well as companies who

92、 can enhance the 3D technology and make it in high fidelity.The concepts of the metaverse and complete immersion in a virtual space depend on these graphics being improved.Thus,companies like Meta and Microsoft are eager to compete for talent to take a lead in this space.Meta has announced millions

93、of dollars in investment for developers who build for Oculus and their metaverse called Horizon Worlds.Meanwhile,Microsoft has taken a different approach by acquiring Activision Blizzard.This acquisition has given Microsoft the opportunity to get access to developers who have built some of the best

94、and most interactive immersive gaming experiences in the past few decades.Here are some of the companies that we believe will have an impact on Virtual Reality Development Company Name Business Description Genvid holds live events in the metaverse Wolf3D helps develop virtual identities GameMaker is

95、 a series of cross platform game engines Crucible is a developer of an SDK platform designed to provide secured and portable digital identity Juego Studios global technology company which specializes in game development,mobile application development,enterprise solutions,AI,&machine learning.Forte H

96、elps develop Blockchain Platforms for game developers The Fabricant creates 3D virtual designs Buildbox is a no-code development platform focused on game creation without programming,coding or scripting.Photon is a multiplayer game development platform Neuno helps design a wardrobe for your avatar i

97、n the metaverse.23|Metaverse Market Report ECOMMERCE Before metaverse virtual worlds become popular,ecommerce was a$10 trillion industry in 2020 as almost every big retailer utilizes the internet and social media to reach their customers and sell their products.xix The growth of Metaverse will impac

98、t the ecommerce industry as many big brands are starting to get involved in this space.Nikes acquisition of RTFKT,a developer of custom virtual products,will help the company be a part of this next wave of technology.Gucci,a luxury brand,took a different approach by teaming up with Roblox to release

99、 Gucci Garden,which is a virtual exhibit for the brand.Many users who think about Ecommerce in the metaverse industry,only think about brands launching NFTs.Another aspect of Ecommerce will perhaps play a bigger part in this space.Augmented Reality is massive for the Ecommerce space.When shopping on

100、line,many buyers complain that the product seemed different once it arrived in person.Augmented Reality will help solve this issue as users will be able to feel the products in their space.Shopify has already implemented this as an optional service for the businesses who use their platform.Moreover,

101、companies like Threekit are helping users display their products in 3D as well.Matterport is a Y-Combinator graduate which also uses virtual reality to help users immerse in a space before making a purchasing decision.Here we list 2 types of companies which we believe may have a major impact in ECom

102、merce.One of them uses Augmented Reality to purchase real life products and the other one uses virtual reality for virtual products.Companies which use Augmented Reality in ECommerce Companies which use Virtual Reality in ECommece 24|Metaverse Market Report PROFESSIONALIZATION OF VIRTUAL ASSETS Web

103、3.0 and Blockchain Integration has become essential for many Virtual Worlds.These Virtual Worlds allow users to interact in the Metaverse as they would in real life.They can buy virtual property and they can exchange assets which are many times open source and cross platform.These virtual assets can

104、 also be called Non-Fungible Tokens.As of now,NFTs have become synonymous with digital art being sold online.However,NFTs are so much more than that.They can be virtual assets in and out of the metaverse.We investigate virtual assets that we think will be the most valuable in the coming years.Virtua

105、l Designer Products:We touched upon virtual products in the Ecommerce section as well.These designer products can be considered a virtual asset.Being able to own these products in blockchain technology means that it is verified that it is your own product.Many of these designer products are cross pl

106、atforms which means the users avatars can travel in different virtual worlds and show off their virtual designs.Perhaps many big retail brands will start to provide buyers a virtual product as well as they purchase it in real life.This way,they will be able to wear their product in real life and vir

107、tually through their avatar.Virtual Real Estate:Virtual spaces in the metaverse can be very popular as they are attracting a large,rapidly growing number of users.As people join virtual worlds like Decentraland and The Sandbox,they will interact with other users in these spaces.This is when users wi

108、ll be able to monetize their virtual land by renting it or hosting events.The biggest barrier to this investment is that investors have not realized which of these virtual worlds will be the most popular in the coming years.However,Metaverse real estate companies seem to be established which are hel

109、ping users buy virtual real.Metaverse Properties,a Toronto startup has established a Real Estate Investment Trust which can help users invest in virtual land.Virtual Music:Non-Fungible Tokens have expanded into the music industry as top artists like Shawn Mendes and The Weeknd are capitalizing in th

110、is space.There is a big possibility that the future of the music industry will be hugely tied into NFTs as investors will be able to purchase music as an NFT.Snoop Dogg purchased Death Row Records,a label he used to be a part of.This record label will be an“NFT Label”according to Snoop Dogg.utility.

111、A lot of that is going to go away.”Jason Brink,Gala Games 25|Metaverse Market Report CONCLUSION The Metaverse is a fast-evolving,commercial industry.The adoption of many of the metaverse enabling technologies are becoming increasingly well-known and understood.Nonetheless,these technologies are stil

112、l in development,and we are far from the finished product.Currently,the scenario may seem very similar to the dot-com boom.This is because there are lots of new companies and developers entering the market and are trying to take advantage of the popularity of virtual worlds,blockchain technology,and

113、 the new money invested into this field.Unfortunately,not all these companies will be successful.Metaverse Insider has tried to compile this market research report to bring a better understanding of the current landscape of these disruptive technologies.We truly believe it is important to understand

114、 the history of the technologies at play here as many of these technologies are still in their infancy and the history will help us identify the purpose of these technologies.The current landscape is vast and still complicated to navigate.This report focused on Mixed Reality and its headsets,the met

115、averse in general,and the WEB 3.0 companies which are gaining traction.We have also investigated the technologies that have massive potential to gain market share.We need to be accessible.We need to be humble,and we need to say that we are all learning and everybodys trying to figure it out.We need

116、to proactively attract women and very diverse talent because its not just about developers.This is touching every industry.You need marketeers.You need economists.You need people who are thinking through laws and regulations and attracting talent.”Marieke Flament,NEAR Foundation 26|Metaverse Market

117、Report KEY TAKEAWAYS The Metaverse Industry is still evolving.The Metaverse as a concept is still not defined.As Metaverse Insiders Market on Page 16 shows,the metaverse industry covers a vast spectrum of new evolving technologies,including blockchain,5G,and AI.This industry does not only rely on on

118、ly Virtual and Augmented Reality.Decentralization from blockchain,Connectivity from 5G,and rapid development from Artificial Intelligence are just a few of the components of this fast-evolving industry.The WEB 3.0 Companies may take over the industry.The concept of decentralization really materializ

119、ed in 2008 when the whitepaper for Bitcoin was issued by the alias of Satoshi Nakomoto.The idea that gave birth to Bitcoin eventually took over other industries with Ethereums introduction.With the Ethereum blockchain users were able to create decentralized applications.Today,Web 3.0 is closely tied

120、 to decentralization and open-source applications.WEB 3.0 companies are introduced(page 20)and many of them may be the next big tech company.There are still a lot of opportunities.With most of the decentralized and centralized virtual worlds being introduced in the past two years,the industry is sti

121、ll very new.As mentioned in our first takeaway,the industry is still evolving.Which means there are still many opportunities for Developers and Investors.We truly believe,virtual reality development is a huge opportunity as many companies give developers a chance to create applications on their plat

122、forms.Virtual items can be sold through ECommerce platforms.With the use of augmented reality,the sellers of real products will be able to enhance their sales pages as well.Lastly,virtual assets are still an undiscovered area.We have seen the rapid rise(and fall)of non-fungible tokens.However,NFTs o

123、f music,real estate,and virtual designer products seem to be something to look out for.27|Metaverse Market Report ABOUT METAVERSE INSIDER Founded in 2021,Metaverse Insider is the leading provider of news and information on the Metaverse industry.It was developed by our team who acted do address the

124、gap in the market for quality media and market analysis in the emerging metaverse and web 3.0 space.Metaverse Insider also helps organizations in this space to promote their business.For more information,please visit www.metaverseinsider.tech To contact the author,please email:wazmetaverseinsider.te

125、ch DISCLAIMER This information of this e-article and report.is provided for informational and educational purposes only.While we strive to provide accurate and timely information,we cannot guarantee that all information is accurate.The information is to the best of our knowledge.This e-article is no

126、t financial advice.28|Metaverse Market Report END NOTES i https:/ ii https:/ iii https:/www.evl.uic.edu/research/2162 iv https:/reviewmoose.ca/blog/when-was-vr-invented/v https:/ ith%20stereo%20sound.vii https:/ viii https:/ https:/ x https:/ https:/ xii https:/ https:/ https:/ xvi https:/ sh%20Hector&text=According%20to%20new%20market%20research,sold%20in%20the%20previous%20year.xvii https:/ https:/ https:/