It sounds like something out of the 1999 science fiction film, The Matrix. But, the Metaverse is real, and big businesses like Facebook, Nvidia, and Roblox Corporation are betting on it. What is the Metaverse? Well, the Metaverse refers to a variety of virtual experiences, environments, and assets.
Virtual concerts, NFTs are among the concepts.
"You're going to have digital art, you're going to have tokens that you use to play and buy skins on your video games," said Ed Lopez, Managing Director and Head of ETF Product at VanEck. "You're going to use a video game to access digital concerts and different venues."
Companies Using the Metaverse Concept:
- Videogame maker Roblox Corporation ( (RBLX) - Get Report) is already using the Metaverse concept for its videogames.
- Nvidia Corporation ( (NVDA) - Get Report), the graphics processing unit company, developed the Omniverse. Consider it a metaverse for engineers.
- Facebook, Inc.( (FB) - Get Report) purchased Oculus VR and developed the Horizon/virtual world meeting space with the Metaverse in mind.
- Fastly ( (FSLY) - Get Report), a cloud computing service.
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