Such a period is necessary for developers to eliminate all the shortcomings of cyberspace.
Chinese tech giant Baidu said that the company took 6 years to build the metaverse. Write about this CNBC.
Baidu started working on applications and infrastructure for the metaverse as part of the XiRang project in December last year. On Monday, the developers plan to use it for the first time for the annual conference. In its current state, XiRang can accept about 100 thousand users in the virtual space.
At the same time, Baidu’s vice president, Ma Jie, highlighted the fact that the company’s metaverse is far from perfect. According to his calculations, the organization will spend about 6 years to eliminate all the shortcomings.
Towards the metaverse
The rise in popularity of the metaverse trend is largely driven by Meta (formerly Facebook). At the end of October 2021, the company announced a name change and identified the development of cyberspace as the main direction of its movement.
Meta presentation and company plan:
Also read: Meta will pay to find loopholes for illegal information gathering in the metaverse
Since Meta is actively working in the virtual world, many other companies have joined the race to dominate the metaverse market. For example, sporting goods manufacturers Nike, Adidas, and major cryptocurrency exchange Coinbase are joining the trend. Celebrities also don’t miss the opportunity to take advantage of the frenzy of cyberspace for their own benefit. For example, rapper Snoop Dogg encourages investors to become his digital neighbors.
Stansberry Research analyst Brian Tikangko draws attention to the fact that despite the hype surrounding the metaverse, the industry is still in its infancy. According to him, many people do not fully understand what cyberspace is and what transformations they can experience over the next 3-5 years.
We will caution, earlier analysts at Morgan Stanley came to the conclusion that South Korea will be an important center of the future metaverse.