The position of ‘virtual universe king’ of Meta, Microsoft is shaken because of a startup backed by SoftBank

Improbable, the SoftBank-backed startup, has just planned a metadata network capable of storing thousands of user information and rivaling the platform of tech giants like Meta and Microsoft.

The British company, founded in 2012, has now detailed its vision for MSquared – the Web3 or 3D metadata network – where people can live, work and interact virtual . Reportedly, MSquared raised $150 million from investors last year.

Google, Nvidia, and Japanese cloud gaming company Ubitus will act as technical partners: providing the cloud infrastructure, pixel streaming, and video & audio technologies that enable unique experiences, High quality and seamless in metadata.

According to CNBC, behind MSquared is a feat of technology. It is accessible via cloud streaming, meaning users don’t need to download any software to still be able to switch to the new platform, similar to accessing movies and TV shows on Netflix.

Reportedly, Improbable is launching developer-specific tools, allowing programmers to build their own metadata.

“The purpose of the metaverse is to create new interactive entertainment experiences,” Herman Narula, co-founder and CEO of Improbable, told CNBC, citing a number of video game examples like Roblox and Minecraft. and Fortnite.

Thanks to Improbable’s Morpheus technology, the metaverse experience will build on and help host massively multiplayer online games.

According to Improbable, MSquared users include: metaverse owners, content creators, service providers, and users. The final idea is that MSquared will be accessible to more than 10,000 people.

Initially, the task was only done via the desktop, but Improbable says the company will soon expand to mobile devices and consoles later this year. According to Narula, MSquared exists independently of Improbable. In other words, how Improbable works doesn’t affect MSquared.

However, for Msquared to succeed, Improbable will need to build experiences with brands. The company hasn’t revealed any names yet, but is expected to announce its first partner as soon as next week.

Improbable, one of the biggest bets by Japanese tech investment giant SoftBank in the UK, was founded by two Cambridge computer science students, Narula and Rob Whitehead. The initial business plan was to integrate the technology into the game, then partner with many studios to develop online games. However, due to some difficulties, Improbable had to scrap many projects a few years ago.

The tech industry has bet on augmented reality. Some people call this the “iPhone moment,” referring to a technology as ubiquitous and prevalent as what Apple’s smartphone does.

Improbable chooses a different path than companies like Meta and Microsoft. First, you won’t need VR glasses to enter the MSsquared space because the software is built on the desktop. This is a more “decentralized” experience and where users can exchange goods directly on different platforms. The company also bets on cryptocurrencies and blockchain, and supports digital assets like NFT to allow users to prove ownership of virtual items.

“The Metaverse is the next frontier for humanity to conquer, just as we have done with social media since the dawn of time,” said Meta co-founder Thoma Bravo.

Now regulators are concerned that the metaverse could exacerbate some of the evils of the web. In response, Improbable launched a separate team of consultants on the platform’s metadata and ethics earlier this year.

It is unknown if Improbable will be successful, especially in the context that the metaverse no longer creates a ‘fever’ like last year. Now Walt Disney has announced the closure of the metaverse development department. Microsoft also recently froze the social virtual reality platform acquired in 2017, while Mark Zuckerberg gradually turned to AI because of the loss of metaverse investment.

Meanwhile, virtual real estate prices in some online worlds – where users can participate as virtual characters – plummeted rapidly. The average land price in Decentraland lost nearly 90% of its value a year ago, according to WeMeta, a website that tracks the metaverse.

“I just want to try and work with technologies that help people enjoy the real world,” said David Limp, Amazon’s senior vice president of devices and services.

It is true that Facebook’s change of name to Meta in October 2021 fueled excitement about the product experience across platforms, but user reservations kept the metaverse from bringing in as much revenue as it was expected. .

“A lot of people are realizing that the metaverse is far from truly transforming,” said Matthew Ball, a venture capitalist.

By: CNBC, WSJ