A new tech-industry battle is taking shape over the “metaverse” as companies such as Facebook Inc. and Roblox Corp. work to shape a virtual realm that most consumers don’t yet know exists.
The metaverse concept, rooted in science-fiction novels such as “Snow Crash” and “Ready Player One,” encompasses an extensive online world transcending individual tech platforms, where people exist in immersive, shared virtual spaces. Through avatars, people would be able to try on items available in stores or attend concerts with friends, just as they would offline.
Enthusiasm for the concept has also helped supercharge valuations of companies such as Roblox—which went public in a direct listing in March—and “Fortnite” maker Epic Games Inc. as investors bet the popular videogame worlds will have an early foothold in the nascent online space.
Other major companies are also expressing interest: Facebook’s Mark Zuckerberg, Microsoft Corp.’s Satya Nadella and Match Group Inc.’s Shar Dubey are among chief executive officers who have talked recently about ways their companies are looking to participate in building or supporting elements of shared virtual worlds.
On Thursday Facebook revealed Horizon Workrooms, an app used on its Oculus Quest 2 virtual-reality headset, that lets people enter virtual offices as avatars and participate in meetings while seeing their computer screen and keyboard. The concept is aimed at connecting people in hybrid-work and remote-work environments, the company said.
