June 28, 2022
The Metaverse has been gaining popularity in searches and discussions since late October 2021, according to Google Trends. This gain in popularity has been followed by many Metaverse projects being created and wanting to jump in on the trend: we have seen Metaverse projects such as Decentraland and Sandbox increase in value over Winter 2021, as well as many new Metaverse projects such as Bloktopia and Star Atlas.
Although we are seeing through Google trends that the Metaverse is not as widely searched today as it used to be in 2022, there are many companies that are getting into the Metaverse. A great example showing this is Facebook changing its company name to Meta in order to show that it is more than a social media company; it is also a Metaverse company. So, why are so many large companies getting into the Metaverse?
One important point to notice is that very few companies even spoke about any Metaverse integration before the trend started gaining traction in late 2021. Although some people consider that the Metaverse is in many ways a continuation of the Virtual Reality (VR) trend, others consider the Metaverse to be its own standalone trend, representing a Blue Ocean industry full of opportunities.
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No matter what, many companies could be noticing that there may be an opportunity in the Metaverse space, and may prefer to be one of the early adopters (and even perhaps leaders) of the Metaverse instead of being left behind. Some large companies could be experimenting with the Metaverse idea, such as Nike creating Nikeland in the Roblox Metaverse, but this does not mean that many companies are changing the core of their business in order to integrate the Metaverse.
The only large company that seems to be placing a large bet on the Metaverse is Meta (formerly Facebook), in the hopes of becoming a leader in the space.