The concept of the Metaverse can be likened to the iteration of the Internet as a single, universal and immersive virtual world that is fostered by the use of virtual reality (VR), augmented reality (AR) and mixed reality (MR) headsets. In other words, the metaverse is a network of 3D virtual worlds focused on immersive social connection.
The concept of the metaverse as a decentralized platform came to play to disrupt the norm of centralization in the social space. Decentralization unlike centralization empowers all players to manage and allows for collective ownership of digital property.
Meta’s Contribution In The Development Of Metaverse
Facebook over the years has been dominating the social media space, doing so successfully in buying up rivals, this strategy she is repeating in virtual reality. Now, Meta, the company has channelled billions of dollars into virtual reality-powered services, helping the market grow from a niche audience of gamers to one with mainstream recognition.
Meta since buying Oculus the small virtual reality start-up eight years ago, Meta has become the dominant player in the space, claiming 90 per cent of all virtual reality headset sales, according to a June estimate from the International Data Corp.
“All the power in the industry — at least at the moment — definitely feels like it’s in the hands of that one company. “If you can’t get that one company to let your game onto their headset, then you are going to have a rough time in the business. RJ White said”
The sheer size of Meta’s investment — and its increasingly aggressive moves to consolidate control of the virtual reality developer ecosystem — has, so far, given Meta practically unchecked power in the developing market to determine which software makers have a shot at economic success and which might stay in obscurity.
“If you total up everybody else, they don’t even come close to approaching the same kind of volume that Facebook has or Meta has,” said Ramon Llamas, a research director at IDC. Does Meta have the “dominant position? Absolutely.”
Some virtual reality developers are worried that Meta’s acquisition spree in the market and poaching of top talent stiffens competition. Others are concerned about Meta’s ability to amass data on the most popular apps in its app store and then release its own competing programs.
Meta debunks such insinuations calling them mere assumptions as it defends the way it has approached the virtual reality business as one intended to make “VR accessible.” “We recognize we won’t be successful unless VR developers thrive,” company spokesman Chris Sgro said in a statement.
The experience of developers, however, offers a window into Meta’s strategy to gain power, money and influence as it makes a big stake in building out immersive digital worlds known as the metaverse. Meta’s quest to cultivate an ecosystem of virtual reality developers could be a critical tool as the company faces down the expected competition in the space from rivals such as Apple and ByteDance.
According to Anshel Sag, an analyst at Moor Insights & Strategy, he says that “The challenge is that they’ve kind of built this moat of content where if a developer wants to develop for VR, they go to [Meta] first because that’s the most economically viable platform,” Sag said. “I think the real question is whether Apple can match that and how long that will take for them to do that.”
The consequences of Meta being a key in the development of Metaverse is such that it has monopolized an essential key factor in the development of Metaverse. In this situation, we will be envisioning a semi-centralization in a decentralized platform.
