The Metaverse: a collaborative journey
Updated: Oct 25
Is this the calm before the storm? With the crypto and general markets cooling off considerably due to various factors including the culmination of macro conditions, you would think interest in the Metaverse would cool along with it. Not so! While the Metaverse may not be front and center of the public discourse as it was in 2021, dedicated projects are building behind the scenes. We count ourselves among that dedicated cohort of builders. We believe there is much to be optimistic about for the future of the Metaverse!
We are seeing a huge amount of progress being made in technology, new platforms being created and teams building and improving to deliver first class products and user experiences. And it’s paying off! Decentraland has come out with new figures conducted by Atlas Corp suggesting there were 8,000 - 10,000 active daily users. Then 39,000 and 52 million for Sandbox and Roblox respectively.
Image: ReachXR build in Decentraland for OpenExO
But this negligible amount of ‘breathing room’ is also serving to give everyone operating in this sector time to work together and for smaller platforms and companies to establish themselves. This is imperative if we want to create a virtual future that is built around the values consumers are demanding, one that service providers will ultimately benefit from also. Essentially a virtual landscape that is fair and transparent. One where privacy and transparency are flipped in the other direction: corporate transparency/ user privacy. Which is why it's important to keep monolithic corporate entities from completely dominating the space and thus becoming the arbiters of truth, free speech and privacy.
To this end, we would love to see smaller decentralized companies succeed, becoming a constellation of interconnected worlds and experiences. With an estimated 10,000 virtual worlds in various stages of development, it is truly turning into its own galaxy! However, in an ideal world, both centralized and decentralized platforms could coexist in this Metaverse constellation, as they each offer various features that appeal to different users.
Having this variety of features and experiences brings in new users who will eventually explore other platforms, which benefits the ecosystem as a whole. But we should aim for introducing and maintaining as much decentralization in the system as possible! We all need to work hard and work together to make it a reality.
Image: Hazel Griffiths at ReachXR
We are here to build and collaborate with those who share this vision as creators and people who are not only passionate about crafting beautiful, well designed spaces and compelling virtual experiences, but also about creating the internet we’ve always wanted.
In an effort to bring about this revolution, we stay on the forefront of innovation by collaborating with companies who not only share these values but are also pioneering exceptional technology, which we are then able to leverage and offer our clients. Technology such as custom API’S for text to image generation AI models, volumetric video capture technology, ready for import into the Metaverse and other unique features and services.
As builders, we also champion many of these growing Metaverse platforms by building innovative experiences that help attract audiences and bring attention not only to our clients and their brands, but to the platforms themselves.
We work closely with clients to create events, experiences and bespoke assets that are a reflection of what they stand for and who they are. Web3 digital identity, as well as privacy and sovereignty, is also the intangible aspects of who you are, your story, your values and ideas.
ReachXR builds for Toonpals and Pixelmind
We’re quite some way from many of the future ideas and predictions of what the Metaverse will be, but here at ReachXR, we pledge to keep building and creating amazing things throughout this journey by helping others bring their vision to life.
As the Metaverse grows and matures, we aim to build audiences and strong communities of people who will grow along with it. Above all, we always aim to be a voice for a more human-centric, collaborative and decentralized future.
We’re along for the ride, are you?
If you’d like to build with us or you’d like to be a guest on our upcoming ReachXR podcast, get in touch