Top 10 Leading Companies Entering the Metaverse

What Is the Metaverse?

The metaverse is a three-dimensional virtual world where users interact through avatars, enabling communication, entertainment, and business activities. The term “metaverse” was first introduced in Neal Stephenson’s 1992 novel, Snow Crash. It combines “meta” (meaning “beyond”) and “universe,” signifying a world “beyond the universe.”

The metaverse lets people explore new cities, countries, and cultures without physical travel. As digital technology advances, the metaverse is quickly becoming a new form of reality that extends our daily lives and complements the physical world. Put simply, the metaverse is a blockchain-based, all-encompassing virtual world—a one-stop network for everything.

This concept extends far beyond virtual spaces, with applications anticipated in economic activity, social connection, education, and entertainment. Users can engage in new interactions and experiences not possible in the real world, which may drive major changes in how we live and do business.

Types of Metaverses

Metaverses come in various forms depending on their purpose and use case. Below are the main types and their characteristics.

Each metaverse serves different purposes and user groups, addressing diverse needs. For example, social metaverses foster free interaction and new friendships, while industrial metaverses provide advanced tools for product design and simulation.

A survey by Mitsubishi Research Institute found that 83% of 10,000 respondents were familiar with the metaverse, but only 5.5% had actually used it. This highlights high awareness but significant barriers to adoption.

To fully enjoy the metaverse, high-performance VR hardware is required, but adoption remains limited. High initial costs and the inconvenience of wearing VR devices are key obstacles. As a result, the metaverse is not yet easily accessible to all, but advances in technology and lower costs are expected to broaden access going forward.

Top 10 Companies Entering the Metaverse

Many companies have already entered the Web3 gaming space, each building their own virtual worlds. Investing in metaverse concepts and consulting also plays a crucial role in industry development. In recent years, some companies have launched products that are more user-friendly and engaging than their competitors. Below are the key companies driving the metaverse market.

1. Meta

Recently, Facebook’s founder Mark Zuckerberg announced the company’s rebranding to Meta, marking a new direction. In a public letter, Zuckerberg committed to enhancing creative tools to “bring the metaverse to life,” moving beyond the social media framework.

Meta has invested heavily in VR and AR for years. The Quest VR headset series has sold over 20 million units, and the partnership with Ray-Ban has been a success in the smart glasses market. The company also unveiled “Orion,” an advanced AR glasses prototype that overlays holographic images onto the real world and is operated via a neural signal-reading wristband.

Meta has spent a decade developing Orion and now plans to collaborate more closely with software developers for commercialization. The company is also working to expand its Ray-Ban Meta smart glasses lineup and strengthen its presence in the metaverse with new models.

Meta’s earnings report showed Reality Labs (its XR/metaverse division) generated $440 million (about 68 billion yen) in revenue, up about 30% year-over-year. However, Reality Labs’ costs totaled around $4.3 billion (about 670 billion yen), with expenses dropping slightly (-1%), but the division remains unprofitable. This underscores the need for long-term investment in metaverse technology.

2. Google

Google was an early entrant in virtual reality, releasing Google Glass years ago. After a market withdrawal due to privacy concerns, a new version was launched with enhanced AR features.

Recently, Google has focused on Project Astra, an AI agent project. This initiative showcased smart glasses that give users real-time information about their surroundings, enabling hands-free access to data and answers.

Google also added new AR features to Google Maps, like geospatial AR, and updated its AR development toolkit, allowing navigation and translation via AR.

Additionally, Google partnered with Magic Leap to create new XR experiences by combining their technologies. By leveraging expertise in AR and optics, this collaboration aims to unlock new market opportunities. These efforts are expected to boost Google’s competitiveness in the metaverse.

3. Microsoft

Microsoft has shifted its strategy in VR and the metaverse in recent years, announcing the end of HoloLens 2 production and no plans for new models, following multi-billion-dollar losses on the HoloLens project.

Microsoft has built its “Mesh” metaverse platform and entered a strategic partnership with Meta. It also rolled out a premium Teams version with AI features. The partnership allows Microsoft 365 products to be used on Meta Quest.

Microsoft is committed to investing in mixed reality, seeking new business opportunities with mobile devices and hardware ecosystems. These strategies reflect Microsoft’s flexible approach and long-term vision for the metaverse.

4. NVIDIA

NVIDIA has long driven GPU innovation. Its GPUs efficiently handle complex calculations and complement AI and CPUs. In recent years, NVIDIA introduced the “Omniverse” suite for building metaverses, aiming for more realistic 3D worlds by integrating with its AI products and high-performance hardware.

NVIDIA also collaborates with Hitachi to develop industrial metaverses, combining Hitachi’s operational and control tech with NVIDIA’s metaverse and AI expertise. The partnership uses digital twin technology to simulate operations and inspections for manufacturing, railways, and power plants, enabling more efficient deployment in virtual environments.

The companies are also working on servers to dramatically reduce AI training times and plan to release AI-powered data storage servers. They will set up a joint organization to advance new products and systems, marking a major step toward industrial metaverses.

5. Cluster

“cluster” is one of Japan’s largest metaverse platforms, where users experience virtual worlds with customizable avatars. Over 40,000 worlds have been created by users, and cluster has hosted large events such as Virtual Shibuya and Pokémon Virtual Fest, attracting many participants.

Since launching in 2017, cluster has surpassed one million downloads and recorded 20 million total attendees, making it a leading domestic platform. The company has raised over 6.6 billion yen, with investors including TV Asahi Holdings and KDDI.

Cluster also partnered with the Japan Patent Office to produce and manage the metaverse space for the G7 Heads of Intellectual Property Offices meeting, demonstrating its role beyond entertainment and highlighting its public sector collaborations. Cluster is expected to continue actively expanding metaverse adoption in Japan and internationally.

6. Nissan

Nissan has accelerated its digital transformation by entering the metaverse industry. The company filed four Web3-related trademark applications with the US Patent and Trademark Office (USPTO), signaling a strong commitment to digital commerce and virtual engagement.

The trademarks cover “INFINITI,” “NISMO,” and “NISSAN,” and incorporate VR, NFTs (NFTs), and blockchain. Nissan also plans virtual stores and marketplaces for virtual apparel, cars, and NFTs.

Previously, Nissan launched “NISSAN HYPE LAB,” a virtual store offering a metaverse car-buying experience. Users can access the store 24/7, use custom avatars, and interact with virtual staff for car simulations. These initiatives help protect Nissan’s brand with Web3 technology and address evolving consumer needs, making the company a digital transformation pioneer in the auto industry.

7. Bandai Namco

Bandai Namco’s “Connect with Fans” vision includes an “IP Metaverse” strategy. The first project, the Gundam Metaverse, is a virtual gathering space for fans worldwide to interact and join events.

During its initial limited launch, the Gundam Metaverse offered 3D Gunpla sales, concerts by Gundam-related artists, and a UGC museum for fan-created Gunpla and art. An AI character, “Mellow,” enabled user interaction.

After gathering feedback, Bandai Namco improved the platform, supporting PC browser access and expanding content. The company plans to use NFTs to strengthen UGC and peer-to-peer transactions, further growing the fan community. These efforts are industry-recognized as a successful IP-driven metaverse strategy.

8. Dai Nippon Printing

Dai Nippon Printing (DNP) has advanced its metaverse initiatives step by step, working with the Tokyo government to provide a “Virtual Learning Platform” for students needing Japanese language support or unable to attend school. The project enabled children to learn programming in the metaverse, promoting digital transformation in education.

DNP also collaborated with Lenovo and Tokyo Shoseki on educational research in the metaverse and joined an “Education Working Group” to propose new educational practices, submitting policy recommendations to the government for elementary through high school.

DNP also partnered with Kuwana City in Mie Prefecture for a “Metaverse City Hall” project, allowing residents to use city services, submit applications, and consult officials from home via avatars, even anonymously, enhancing municipal convenience. DNP aims to further expand metaverse use in local governments and schools nationwide.

9. Apple

Apple has stepped up its metaverse initiatives, most notably with the Apple Vision Pro mixed reality headset. This device combines AR and VR, enabling “spatial computing” controlled by eye, hand, and voice.

Apple Vision Pro features 12 cameras, five sensors, and six microphones, powered by the M2 and new R1 chips. Its development involved over 5,000 patents, with enhanced tracking for users’ eye and hand movements.

Apple has also acquired AR and lens companies, integrating their technologies into its products. While Apple continues to invest in Web2, these moves position it to play a major role in the future metaverse market.

10. Epic Games

Epic Games has strengthened its presence in the VR and metaverse space. Fortnite remains a key metaverse platform with over 500 million user accounts, hosting music concerts and exclusive film screenings as part of its extensive virtual events.

Epic Games previously raised $2 billion from Sony and KIRKBI for metaverse development, aiming to improve Web3 accessibility. Disney also invested $1.5 billion, deepening the partnership. This collaboration brings Disney, Pixar, Marvel, and Star Wars characters into new games and entertainment experiences, letting users “play, watch, shop, and interact.”

Epic Games will continue to expand development with Unreal Engine for games and non-game applications, maintaining its leadership in the metaverse. Its RealityScan experience and ecosystem exhibitions highlight significant contributions to metaverse adoption and advancement.

What Is the Outlook for Metaverse Companies?

Major brands and technology companies have shown strong interest in the metaverse’s potential even before it goes mainstream. Some companies mentioned here may become major players, while others might not succeed. The metaverse is growing rapidly, with new developments emerging constantly.

A World Economic Forum report forecasts the industrial metaverse market to reach $100 billion globally by 2030. It highlights the seamless integration of transformative technologies, freeing the physical world from limitations through digitalization and providing mobility, adaptability, and real-time interoperability. The report also notes the convergence of AI, Web3, and blockchain.

Japan’s metaverse market is also expected to expand significantly in the coming years. The Ministry of Internal Affairs and Communications projects substantial user growth, driven by businesses and local governments proactively adopting metaverse technology and offering new services and experiences.

Additionally, the Ministry reports that the US and EU are advancing legal frameworks for metaverse privacy and child safety, which may be applied to metaverse platforms. In South Korea and China, government-led initiatives are promoting metaverse industry growth. These international efforts are key to a healthy metaverse market.

The future of the metaverse relies on both technology and social acceptance, as well as legal frameworks. Companies must deliver engaging and user-friendly metaverse experiences while protecting privacy and security. As metaverse adoption expands in education, healthcare, and industry, it could profoundly reshape how we live and work. Metaverse companies are expected to tackle these challenges and create new value.

FAQ

Which Companies Are Included in the Top 10 Entering the Metaverse?

The top 10 metaverse entrants include Meta, Epic Games, Roblox, VRChat, Niantic, Microsoft, Toppan Printing, HIKKY, REALITY, and Cluster. Each company is driving the market with unique platforms or services, and continued growth is expected into 2026.

What Are the Main Strategies and Investment Scales of Each Metaverse Company?

Meta has invested over $100 billion, focusing on the Quest VR headset and Horizon Worlds social platform. Microsoft’s core strategy is enterprise solutions like Mesh for Teams. Google is expanding ARCore technology. Sony leads with PlayStation VR2 in gaming. In Japan, NTT Docomo offers XR World, while GREE supports remote collaboration.

What Is the Growth Outlook for Metaverse-Related Companies?

Metaverse-related companies are expected to see market size reach about 1 trillion yen by 2026. Advances in AI, wider NFT adoption, and increasing corporate investment point to rapid growth ahead.

What Are the Differences and Features of Metaverse Platforms?

Metaverse platforms differ in user base, device compatibility, and use case. VRChat is built for large-scale events, ZEPETO targets Gen Z, and cluster—run by a Japanese company—focuses on immersive experiences. Other platforms specialize in office use (ovice) or e-commerce (Hacosco), each with distinct features.

What Are the Risks and Opportunities of Investing in Metaverse Companies?

Investing in metaverse companies offers strong return potential and growth opportunities, but also carries market uncertainty and regulatory risks. Key opportunities include VR/AR advances, NFT assets, digital real estate, and related crypto assets. Careful selection and thorough research are essential for success.