Crypto Stories

2022 Could Be The Biggest Year For The Metaverse

By Parasshuram Shalgar
Published January 4, 2022 Updated February 7, 2022

As Meta, the parent company of Facebook prepares to provide new hardware and software services in what has been a relatively small market for early adopters, 2022 is shaping up to be the most significant year yet for “the metaverse.”

The term “metaverse” refers to software and gear that enable users to play or work in virtual 3-D worlds, as well as to extract data from the internet and merge it with the actual world in real-time.

Nvidia: The Metaverse’s Engine

Without the computing power required to bring the metaverse to life, no discussion of it would be complete, and that’s where Nvidia comes in. It has a leg up in the metaverse since its graphics processing units (GPUs) are the unquestioned industry standard for rendering realistic pictures in video games.

Nvidia GPUs became the workhorse in every major cloud computing operation and an increasing number of data centers due to this capacity, ushering in the age of artificial intelligence (AI). The metaverse’s development will need comparable speed and accuracy, making Nvidia’s cutting-edge chips the apparent beneficiaries.

Even if the metaverse takes years to manifest, Nvidia continues to expand at a breakneck pace. Nvidia’s sales increased 65 percent year over year in the first nine months of this year, resulting in a 132 percent increase in profits per share. Last year, Nvidia made $16.7 billion in sales, but that’s a drop in the bucket compared to the company’s entire addressable market, which management expects to reach $250 billion by 2023.

To Double Your Income, What Would It Take?

It will take many years for the metaverse to come close to achieving the lofty goals that individuals like Zuckerberg have set for it.
A flourishing economy and stock market would undoubtedly be beneficial. When investors are concerned, they prefer to avoid growth stocks like Unity. When circumstances are good, though, the so-called “risk-on” mindset may be a boon to these equities.

The purchase of Weta Digital might aid Unity’s success in the coming year. Weta, according to Riccitiello, will increase Unity’s entire addressable market by more than $10 billion each year. In 2022, capturing even a tiny fraction of that market would very indeed send the stock up dramatically.

Big Tech’s Metaverse Crypto

Because of the metaverse’s lengthy history with virtual reality, several VR businesses have been working on what we now call “the metaverse” for many years.

For example, VRChat and AltspaceVR are two of the most popular virtual reality platforms for business and social interaction.
This year, two substantial-tech firms – Facebook (now Meta) and Microsoft – put significant investments on the metaverse’s future, including it into their immediate roadmaps.

Upcoming Meta Platforms Releases

Meta Platforms first surfaced on October 28, 2021, due to Facebook’s makeover. The name alludes to what will inevitably become the future of human interaction and maybe to life itself. Virtual avatars of individuals playing games, conducting meetings, attending seminars, exercising, learning, and socializing are all part of the company’s metaverse concept.

Meta revealed new tools to allow individuals to create for the metaverse and the rebranding. On Quest 2, they added the Presence Platform, which enables mixed reality experiences. In addition, Meta committed $150 million to immersive learning to educate and develop the next generation of innovators.

Meta also sold roughly 10 million Quest 2 headsets, necessary for the Oculus virtual reality software. It was also the most popular app on the App Store in the United States throughout the holiday season. Meta Platforms will offer a new VR headset in 2022.

From 2D To 3D Web: Enter The Metaverse

In October 2021, Mark Zuckerberg announced a company name change to “Meta,” signifying Facebook, Inc.’s desire to steer the metaverse’s metamorphosis. The word relates to virtual and augmented reality possibilities. Users may engage, socialize, explore, and produce content in a virtual world, and use blockchain technology and cryptocurrencies to monetize their virtual transactions.

NFTs and cryptocurrencies, which enable to monetize interactions by generating and selling digital artifacts, are inextricably related to the metaverse (or Web3). Web3 is predicted to be a significant commercial issue in 2022, with central Nike, Adidas, Gucci, Dolce & Gabbana, Burberry, Microsoft, and others supporting it.

The Takeaway

While the metaverse may now be accessed through a smartphone, enthusiasts predict it will eventually be viewed using sophisticated virtual reality or augmented reality headsets.