The metaverse is the industry’s latest fascination. While most people are still trying to understand exactly what a metaverse is, major tech players are betting their future on the promise of this new paradigm.
It all started when Facebook founder Mark Zuckerberg renamed his social media company Facebook to Meta back in October 2021. This re-branding marked a shift in focus to the next digital frontier and to expand beyond a centrally controlled social platform that will continue to garner regulatory restrictions. Then Microsoft shocked the world by announcing its intention to purchase Activision Blizzard for $68.7 billion despite several allegations of workplace misconduct, executive resignations, and a plummeting stock price.
It’s clear many tech companies are now on a path to build a next generation, immersive internet. But who will get there first, and what form will it take? Frank Palermo, EVP & Head of Technology, Media & Telecommunications, Americas at Virtusa, shares his thoughts with VentureBeat on What you need to know about the state of the metaverse today.