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LATEST NEWS

  • Matthew Spencer - Tech Journalist

Metaverse Q3 earning calls shifting focus towards the future of technology

Meta Platforms, Inc. (FB) has been gaining huge attention revamp with the name swap. The last time we saw similar awareness towards Facebook was how crucial the social media platform is and its impact on our lives. With controversies rounding around the name Meta from Metaverse, the company's plat indeed is intriguing. It also became a role model in tech space, regulation gaming, hardware and software companies shift their focus to the virtual platform.



The last few years was the age of social media platforms where people became generalised with social interaction through the web. Of course, there were many platforms, but nothing was as complete and crucial as what Facebook brought to the table. Now they are working on an augmented reality platform, which is the social media of the future. Augmented reality (AR) allows interaction with digitally created 3D objects, allowing virtual capabilities to open many doors. Companies such as Google, Amazon are also trying their best to perform on the stage.


After Facebook Q3 earning call was released, the Metaverse concept showed dull attention to some. But they failed to realize that we didn't see such potential of social media a few years back, and here we are using it every day. Who would've thought we were going to have reusable rockets that could compete with NASA's production? Though being a government platform, it has its drawbacks, such as slower production and lack of motivation, unlike people who created a dedicated platform.


Dozens of executives are now talking about their take on metaverse or augmented reality, virtual reality establishment.


Tencent Games, Bumble, Bilibill, Coinbase, Roblox, Epic games executives tuned in for AR/VR capabilities for the future generation. The gaming industry is quite ahead of everyone in the sector as they are already developing characteristics that are interactable virtually.

GPU vendors such as Nvidia and AMD made top-notch hardware and software components for video game consoles and gaming computers. Now, their efficient chips can handle artificial intelligence and machine learning tasks separately. Innovative CUDA cores with low power consumption chips are helping bring the future to us faster than expected.


According to the metaverse report, "the next platform will be even more immersive – and embodied internet where you're in the experience, not just looking at it."


"In the metaverse, you'll be able to do almost everything you can imagine – get together with friends and family, work, learn, play, shop, create – as well as completely new experiences that don't fit how we think about phones or computers today."


Of course, these features indeed sound unique and promising, but before the full deployment or finalised product, we will still be typical on the matter as we need to fully understand its capabilities in real life, not just words.


Zuckerberg's computer-generated world metaverse raised many questions among executives who will be the first ones of the bunch to adopt new technology.


David Baszucki, CEO of Roblox, said, "it's been called the metaverse today. We've called it human co-experience." Also, the "new category of the metaverse or co-experience is predicted on eight fundamentals." These fundamentals are identity, immersive, social, low friction, economy, anywhere, variety and civility.


Warner Music Group CEO Stempeh Cooper thinks it's already here as large gaming companies made opportunities to provide virtual content within distributed coverage. He said, "when you begin to look at the global reach, the number of people that spend meaningful amounts of time in these new worlds, I think it provides a universe of opportunity for Warner."

Tencent, Dolby Laboratories, Hasbro CEO's agreed on the matter, and we are still in the waiting seat to watch how these companies adapt to newer technology to make our lives easier.

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