As the metaverse remains in its early stages, a slight decline this year hasn't stopped companies pushing forward with investment.
Metaverse companies raised hundreds of millions of dollars in deals in October, proving that the future of the internet is still an extremely hot topic.
Even outside of Mark Zuckerberg’s dreams of Horizon World, businesses all around the globe are investing in technologies and companies to keep them ahead of the metaverse curve. That metaverse is, as it stands, anything they want it to be as the term will mean different things depending on who you ask. Some may believe it’s based on cloud computing and artificial intelligence, while some believe it’s all about virtual reality (VR) and augmented reality (AR). The thing is that it can and probably involved each of those categories – the metaverse is a convergence of several technology themes, and companies are utilising, adopting, and innovating specific ones to best meet their objectives in Web3.
“Although the metaverse is in the early stages of development, it has the potential to be the next mega-theme in digital media,” says research firm GlobalData, “the metaverse could transform how people work, shop, interact, and consume content.”
However, given the weight the Zuck has put into the role VR and AR will play in his version of the metaverse, we have decided to take a deep dive into the deals raised in those market segments over the years.