Yahoo recently launched its own virtual exhibition space in Decentraland as part of the first “Metaverse Fashion Week” (MVFW). This experience brings T station shows and showcases, pop-up stores, post-meeting parties, and immersive experiences from many different brands, organizations, designers, and others to the Decentraland 3D virtual world platform.
Yahoo said that as part of its continued innovation in XR and the next generation of immersive interactive content experience, it has launched its own exhibition space for MVFW at Decentraland, opening new doors to future brand collaboration. With its creative technology expertise and content and distribution technology platform, other projects it has created use 3D content in different ways, including a customized AR experience for Pringles, as well as 3D interactive content and AR experience for My John Lewis customers.
In the gaming industry, Epic and Roblox are seen as pioneers of the Metaverse. Epic founder Tim Sweeney has announced $2 billion in funding from SONY and the Lego family Kirkbi investment company. Epic’s “Unreal Engine” is one of the largest engine platforms used to create games, and Epic also runs its online gaming store, Epic Game Store, competing with companies like Microsoft and Valve. The new financing will help the company accelerate its efforts in building metaverse, such as game development. The huge deal highlights the interest of big companies in the metaverse. Traditional gaming companies such as SONY are also closely watching the development of the metaverse.
Focus on the development of AR / VR and other metaverse core technologies
According to relevant experts, the emergence and development of the meta-universe depend on five key technologies: AR / VR, communication technology, cloud computing, AI, and blockchain. Among them, AR / VR provides the hardware carrier of immersive experience for the metaverse, which is the entry point for participants to enter the metaverse; 5G and cloud computing complement each other, reduce the requirements for terminal equipment, and let more people participate in the metaverse world; AI can make human-computer interaction more accurate and intelligent, virtual image more real, AI enables tools, make creation easier to use, greatly improve metaverse productivity, increase content capacity, and cast prosperous ecology; blockchain builds the metaverse production relationship and creates the economic system. The five key technologies that support the development of the meta-universe are not independent development, but mutual integration and empowerment.
However, the metauniverse is not only the application of one or two technologies. To build a complete metauniverse ecology, it is necessary to accelerate the deep integration of a series of cutting-edge information technologies such as 5G, cloud computing, distributed storage, artificial intelligence, big data, Internet of Things, digital twin, virtual reality, and blockchain. Only by promoting integrated innovation and integrated application, accelerating the construction of new infrastructure, and promoting the deep integration of the digital economy and the real economy, can it be expected to reach the metaverse value dividend.
The metaverse is closely related to enterprises
The metaverse is based on high technology, and cannot leave the strong support of high technology. As early as metaverse arrived, WIMI was the first to layout AR, laying a good foundation for its metaverse application expansion. Data show that WIMI Hologram Cloud, Inc. (NASDAQ: WIMI), mainly focuses on augmented reality technology research and development, AR terminal hardware entry, content and scene, etc. According to its website, enhanced digital images can be superimposed with AR technology in the real world. Based on this, users can wear WIMI’s head glasses products and access AR apps such as ads or movies, bringing users an immersive sensory experience.
From the current development of the metaverse, the optimization of AR, VR, and other virtual reality technologies has reached the basic requirements of the metaverse, while metaverse content, network, blockchain, graphics display, and other functions need more powerful computing power. At present, 5G and other communication technologies can meet the multi-level requirements of the metaverse, such as 5G in UGC content, 3D engine, and computing power can achieve the short-term requirements of the metaverse, and can continuously evolve with the development of metaverse.
As a computing power facility for metaverse development, computing power platforms are generally provided by operators, but now there are some strong enterprises like WIMI. According to the understanding, WIMI has long been committed to seeking minimalist and innovative 5G solutions, to make 5G richer and more applied faster and better. Using its strong technical capabilities and infrastructure, it won the bid for the second phase of China Mobile and media cloud platform holographic remote interaction, redefined the Chinese mobile communication mode through “5G + holographic remote”, and successfully provided excellent products and information services for the industry.
It is worth noting that the extensive deployment of WIMI5G networks for the deep layout of metaverse began to carry a large amount of AI-related data. This is because it is generally accepted that AI is also a relatively close direction to the metaverse and can generate an association between AI and the metaverse. An important aspect of the metaverse is human-computer interaction and information transmission, which also has many applications in AI. In this regard, WIMI has added the application and popularization of 5G + AImetaverse key technologies to the metaverse industrialization layout, further narrowing the boundary between virtual and reality.
To better match, the AI application requirements in various metaverse scenarios, the continuous integration of WIMI5G + AI technology will provide more possibilities for consumers to produce and live. For example, in education, transportation, home furnishing, port, environmental protection, and other metaverse fields, WIMI combines various kinds of AI applications with 5G itself to build a more open metaverse platform for the digital transformation of vertical industries. On the one hand, it solves the shortcomings of AR / VR large bandwidth + low latency; on the other hand, while the 5G commercial surface gradually opens, 5G continuously expands AI application scenarios and space, and high speed and low latency connection promote more AI-based metaverse applications, and the potential of AI will be released. The deep integration of the two technologies will also further provide a better sensory service experience for the audience’s entertainment life.
Either way, the metaverse era has come, and the major tech giants are laying out the metaverse industry. metaverse is growing rapidly around the world, with many opportunities for business brands and tech entrepreneurs to be part of this ecosystem. But to succeed in the future metaverse world, entrepreneurs will need to be flexible, and conform to metaverse rules and user preferences. The metaverse is under construction, and it could eventually become a multitrillion-dollar market.