A Guide to Developing a Cost-Effective Metaverse Platform

After Mark Zuckerberg rebranded Facebook as Meta, there’s no looking back at this internet’s favorite buzzword – Metaverse. This virtual universe is synonymous with endless possibilities that have gained traction among several technophiles worldwide. 

One can conclude its growth with the recent stat showing- “the metaverse market will touch $800 billion by 2024.” Tech giants like Microsoft, Apple, Meta, and Google, are already investing their time, efforts, and big money in this rapidly advancing technology, and this is what led us to find out what this vague and complex term means and the Metaverse development cost. 

What is Metaverse?

Metaverse, is this an idea to change the way the world works? Is this a virtual universe or the future of the internet built on speculative sci-fi? Or is it simply a fancy term for augmented, mixed, or virtual reality technologies? 

Metaverse is the next virtual world built with the advancement of the virtual and digital realms. It is also considered the successor to the mobile internet that will help a user connect with people when they’re not available physically in the digital space. This world welcomes all and allows everyone to work, play, learn, shop, and connect. According to Meta, the user will be able to access the Metaverse world on several devices, including computers, phones, and other virtual devices. 

When we talk about Metaverse, it feels a lot like talking about the internet in the 70s and 80s, which made a huge buzz in the tech world, and everyone was talking about it. Metaverse is doing the same, pushing us all into a new era where social relationships can be developed virtually. It also allows a user to be more immersive in a cutting-edge online interface that helps not only see but also engage in several activities in the virtual space. 

The Cost of Metaverse Development And The Factors Affecting It

The involvement of several technologies might hit your mind with a question- What is the cost of Metaverse development? Well, the cost relies on several factors-

• Metaverse features
• Metaverse tech stack
• Team required to build metaverse

1. Metaverse Features

Several technologies are used to build the augmented world of Metaverse. Users must interact with the digital assets, and to do the same, it should have the following features-

• Hardware: The medium is required to enter the virtual world of Metaverse. Virtual reality headsets and other gadgets, smartphones, PCs, and laptops are used to teleport the user to the vast interactive space. 
• Infrastructure: The powerful 5G internet is required for a seamless experience and ensures connectivity to the Metaverse world.
• Security: The security factor always is a point of concern for peeps. The Metaverse ecosystem is secured with blockchain technology that facilitates secure transactions and maintains data integrity by avoiding cyber threats. 
• Digital Avatars: Digital avatar is a graphical illustration of oneself that helps perform a particular action. With these recreated forms of pop culture characters, users can easily communicate emotions and sentiments, share experiences, and travel to remote areas.

2. Metaverse Tech Stack

A Metaverse is a combination of several different technologies. Check out the technological advancements that contribute to the ecosystem of the Metaverse and make it market-ready! 

• Virtual Reality: VR or Virtual Reality is a renowned technology that helps imitate realistic situations for Metaverse.
• Blockchain: The virtual world of Metaverse offers virtual experiences that include virtual transactions. Such transactions can be possible with digital currency (built with blockchain) that scores high in terms of performance and security. 
• 3D modeling: In order to make the virtual world look like the real world, several graphic designing and image collection processes are performed with 3D modeling.
• Artificial Intelligence: The technology helps create digital avatars that encourage interaction in different languages and create seamless experiences. 
• Augmented Reality: One can create a design of the physical world with virtual input using this technology.
• IoT platform: IoT uses AI (Artificial Intelligence) and ML (Machine Learning) to churn the information collected from the real world and improve the Metaverse environment.

3. Team Required for Metaverse Development

Metaverse development requires a full-fledged team to handle several tasks. The team includes-

• Independent database
• Full-stack programmers having a good knowledge of Node.js and React.js
• UI/UX developer
• Developer of one decentralized wallet
• Developer for UNITY, UNREAL, and CRYENGINE
• 3D modelers (Blender, Max3DS developer)
• A decentralized dApp producer

Final Thoughts

Metaverse is now more than just a buzzword. It’s the future of tech that offers a new way of interacting with the world. Tech giants like Facebook, Microsoft, Apple, etc., are already experimenting with Metaverse and figuring out its future impact on society. If we say clearly, its impact is still unfolding. However, there is no shadow of a doubt it has the potential to be profound. 

Like other tech giants, Antier is also aware of the power of Metaverse and how it can change the world. Partnering with the company to build an all-new Metaverse project or revamp an existing one will be a smart move. Worried about the cost of our Metaverse development services? 

The cost of our Metaverse development relies on all the factors listed above. The cost also evolves and changes with time, depending on how you implement the Metaverse in your business. Feel free to contact us if you are hunting down the right expert for metaverse development services. We are eager to learn further about your project requirements.