Why would private companies and entrepreneurs dominate the metaverse?

There’s a new area in which startups and entrepreneurs can leverage on Big Tech: the metaverse.

That’s according to Linkedin senior editor at large Jesse Hempel. For the uninitiated, the Metaverse is “the 3D immersive and collaborative experiences that are already making their way into our lives,” as Hempel describes it. Think: Facebook’s Oculus, HTC Vive–any pixelated world in which we interact with avatars.

Writing about the Metaverse within LinkedIn’s Listing 29 big ideas CEOs, entrepreneurs and thought leaders believe the world will change next year, with Hempel predicting that small companies and solo artists will seize parts of this new virtual reality world for themselves.

Here’s more from her forecast:

  • Hempel describes a “metaverse land grab” that is already underway. Companies are rushing to roll out the Metaverse platform, which of course includes virtual reality experiences like Meta that take users into an entirely new world. But they also include augmented reality experiences like Pokémon Go, as well as the overly complex worlds within video games.
  • Large technology companies will try to control this new landscape as much as possible. Check out Mark Zuckerberg’s new obsession with the Metaverse and Facebook’s recent rebranding on Meta. Microsoft also recently announced its entering the metaverseis teasing a new Teams product in which users can interact with each other using avatars.
  • But despite Big Tech’s best efforts, smaller players will continue to play a bigger role within the metaverse, according to Hempel. This is because shutting down the metaverse will be difficult – thanks in large part to the blockchain. Hempel says that blockchain “will allow Metaverse participants to build and use decentralized technology, rather than relying solely on Big Tech players.” This will mean ample opportunities for startups and creatives within this wild new digital world.