{"id":12104,"date":"2023-04-10T07:00:00","date_gmt":"2023-04-10T15:00:00","guid":{"rendered":"https:\/\/formtek.com\/blog\/?p=12104"},"modified":"2022-07-27T10:57:13","modified_gmt":"2022-07-27T18:57:13","slug":"metaverse-dawn-of-the-age-of-the-metaverse","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/metaverse-dawn-of-the-age-of-the-metaverse\/","title":{"rendered":"Virtual Worlds: Dawn of the Age of the Metaverse"},"content":{"rendered":"\n

“Competition in the internet sector has come to a new stage, and we are going to embrace the fourth generation of the internet, which will be the age of the metaverse,” said <\/a>Luo Jun, secretary general of China’s Metaverse Industry Professional Committee.<\/p>\n\n\n\n

The hype of the metaverse has businesses, tech companies, and even countries, like China and South Korea, scrambling to get prepared for the coming.<\/p>\n\n\n\n

The People’s Daily newspaper, run by China’s Communist Party, said that<\/a> the public should “stay rational in understanding the current metaverse mania”.<\/p>\n\n\n\n

The Ministry of Science and Technology in South Korea <\/a>meanwhile has created an alliance of more than 450 Korean businesses in an organization called the ‘K-Metaverse Alliance.”<\/p>\n\n\n\n

In the US, the National League of Cities <\/a>said that “because the metaverse is still being defined, there are endless possibilities as to how it may benefit cities\u2026. As the technology evolves, city leaders have an exciting opportunity to play a part in how the metaverse comes to be.”<\/p>\n\n\n\n

The Metaverse Standards Forum<\/a> has 35 founding members, including many big tech companies, like Meta\/Facebook, Microsoft, Huawei, and Epic Games. Neil Trevett<\/a>, President of the Khronos Group, said that<\/a> “I like to say that the Metaverse Standards Forum will be baking up interoperability bricks. We\u2019re not trying to design or build the cathedral right yet. We don\u2019t know quite what the cathedral is going to be, but we know we\u2019re going to need some bricks.”<\/p>\n\n\n\n

A consortium of ‘Web3’ companies<\/a> that included some prominent blockchain companies (and existing early-stage metaverses like The Sandbox, Animoca Brands, and Decentraland) launched the Open Metaverse Alliance for Web3. The group said that “we will build infrastructure to ensure the metaverse operates as a unified system where digital assets, identities, and data are permissionless and interoperable for all and controlled by users, not platforms. The standards we create are guided by the goals of true ownership and real-time interoperability.”<\/p>\n\n\n\n

Apple has declared <\/a>that it has no plans to join any of these groups but is working on their own plan for developing virtual technologies.<\/p>\n\n\n\n

The Metaverse isn’t here just yet, but the Metaverse wars are just beginning.<\/p>\n

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“Competition in the internet sector has come to a new stage, and we are going to embrace the fourth generation of the internet, which will be the age of the metaverse,” said Luo Jun, secretary general of China’s Metaverse Industry…<\/span><\/p>\n

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