What Are the Different Emerging “Metaverses”?

What Are the Different Emerging “Metaverses”

Wait… so there’s more than one metaverse? Here’s a deep dive into some of them!

You would have to be living under a rock to not have heard the term “metaverse” in the past few months. A metaverse is essentially a world created by putting together augmented reality and virtual reality. It is meant to be the successor to the internet. One of the reasons for the rising popularity of the term metaverse has been tech giant Facebook’s adoption of “Meta” as its new name. The name is based on the company’s vision for the metaverse. 

So now that we know what metaverse is, we need to understand its functionality. Let’s take a look at the industries and sectors which are adapting themselves to the realm of the metaverse. 

Fashion metaverse

The fashion industry has always been ahead of the curve when it comes to adapting to new trends. From hiring virtual influencers to model for their brands to selling “digital” clothes, the fashion industry is quick to accept up-and-coming tech and make the most of it. All of this shows us that the fashion industry has been actively seeking to expand in both the physical and digital realms, which is what the fashion metaverse is all about.

The industry has also been exploring possibilities of creating fashion for digital avatars. For instance, fashion brand Balenciaga created digital-only pieces for the game Fortnite. In terms of digital “wearable” fashion, the brand DressX has been creating AR looks, like a sweatshirt with Vincent van Gogh’s The Starry Night, on which the swirl print actually moves to deliver a truly virtual experience. 

Shark metaverse

While the fashion metaverse is a broader concept enveloping different companies, the shark metaverse is an NFT-based GameFi ecosystem (a combination of gaming and decentralized finance) made by the company Star Sharks. To put it simply, it is a collection of NFT games that are developed by game players, governance committees and game developers. GameFi ecosystems allow players to make money (in the form of virtual tokens) when playing a game. 

Star Sharks’ GameFi ecosystem is based on the Binance Smart Chain (BSC) and recently came into the limelight because Binance Labs made an investment in it. Binance Labs believes that Shark metaverse will play an important role in expanding the gaming sector within the BSC ecosystem.   

Industrial metaverse

The industrial sector is another area that could benefit from the advent of the metaverse. The industrial metaverse allows executives to know exactly what is happening in their company at any given moment through real-time data collection. The industrial metaverse, much like other varieties of metaverses, provides a virtual representation of real-world systems.

One of the companies seeking to create a metaverse for the industrial sector is Nvidia. Nvidia is building a “metaverse for engineers” called Omniverse. The Omniverse obeys the laws of physics and would allow companies and individuals to simulate things that might be too difficult to do in real life. It will also facilitate easy collaboration over the digital space.

As metaverse gains relevance, many metaverse startups have begun experiencing financial gain. For instance, metaverse startup Spatial recently achieved Series B funding worth US$25 million, taking their total investment accumulation to US$46.6 million. Similarly, the Australian metaverse startup, iHunt4, has been selected as one of the U.S. National Retail Federation’s top 50 retail startups. The success of both of these companies is a clear signal of the growth potential that metaverses have for any entrepreneur hoping to enter the space. 

With all this innovation, it is only a matter of time that we see more industries climb aboard the metaverse ship. And, with that, these metaverses might change from the tech that is used by a few to something that is more universally viable. Till then, we can all simply wait and watch for the tech experts to do their magic!

Header image Freepik

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Are There More Layoffs Coming in 2024?

Even as we kick off the new year, the horrors of the year past are not behind us. In 2023, major tech companies undertook big layoffs—in January last year, Google reduced its headcount by 6% (it also recently hinted at a fresh round of layoffs this year); in December 2023, Spotify laid off 17% of its staff and more companies gave out pink slips. This trend has been ongoing for a couple of years since the pandemic shook global markets.

GuideGeek Expands to Facebook Messenger to Offer Personalized Travel Tips

GuideGeek, Matador Network’s AI travel assistant powered by OpenAI, is now accessible to Facebook Messenger users, expanding its reach beyond WhatsApp and Instagram. This move aims to place GuideGeek in the hands of more travelers globally, offering instant, personalized travel tips at no cost.

Elon Musk’s Neuralink Debuts Brain Chip Implant: A Bold Future with Ethical Questions

Elon Musk’s Neuralink is back in the spotlight with a major update: they’ve put a brain chip, called the Link, into a human for the first time. This small device has set its sights on monumental goals, such as helping people who’ve lost their limb functionality. Musk’s big dream doesn’t stop there—he wants the chip to boost our brains, improve our memory and eventually blend the human mind with artificial intelligence (AI).

Mercedes-Benz Launches the New Luxurious CLE Cabriolet

Mercedes-Benz has launched the CLE Cabriolet, building on its heritage of creating four-seater convertible vehicles. This new addition is characterized by its expressive design, advanced technology, and high-quality features, ensuring an enhanced driving experience. The model, which evolves from the CLE Coupé, stands out with its traditional fabric acoustic soft top and distinct high-quality details, making it uniquely positioned in the market. Designed to offer dynamic performance alongside exceptional daily comfort, the CLE Cabriolet supports year-round open-air enjoyment.

4 Companies Reusing Coffee Husk for Eco-Friendly Innovations

A daily cup of coffee is more than just a morning ritual—it’s a powerhouse of energy and health benefits. Beyond keeping you alert, coffee supports brain health, maintains liver function and may even lower the risk of depression. However, the journey of coffee from plantation to mug involves an energy-intensive process that produces significant waste, particularly coffee husks.

Fort Worth Hosts New LG Electronics Facility for EV Charger Assembly

LG Electronics has initiated its first U.S. production facility for electric vehicle (EV) charging stations in Fort Worth, Texas, aiming to bolster the national EV charging infrastructure and generate employment opportunities. The facility’s inauguration was marked by an event attended by Fort Worth Mayor Mattie Parker and LG executives Alec Jang, H.K. Suh and Nicolas Min. This development is part of LG’s strategy to expand its presence in the EV charger market by providing high-quality charging solutions and services.