Facebook’s rebrand to Meta is both a convenient distraction from its terrible, horrible, no good, very bad news week and reflects every tech incumbent’s fear of missing the next big thing. The metaverse is Silicon Valley’s latest buzzword to describe an immersive, persistent virtual world, and Mark Zuckerberg has shifted his company’s ambition to becoming the metaverse company—even if it’s not yet 100% clear what that means.
While Facebook’s massive scale and hordes of cash make it a formidable rival, it’s not the only company with this vision. Here are the companies that Facebook will be competing against in its quest to build the metaverse.