Technology

The Metaverse is already here: 5 companies building our virtual reality future

If you believe Facebook, the future is a virtual reality “metaverse.” The tech giant, which changed its name to Meta last month, plans to invest $10 billion this year to develop products that support augmented and virtual reality — a robotic hand, high-tech VR glasses and sophisticated software applications, to name just a few. Analysts expect the company to spend at least $50 billion to achieve its promise of a virtual reality future. But Meta is far from the only player. In fact, a half-dozen other companies are already building out the hardware and software that will be the next generation of virtual interaction — something Wall Street sees as a $1 trillion market.

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OODA Analyst

OODA Analyst

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