Top 10 Leading Companies Entering the Metaverse

What Is the Metaverse?

The metaverse is a three-dimensional world built in virtual space, where users participate through avatars, communicate with others, and engage in entertainment or business activities. The term “metaverse” was first introduced in Neal Stephenson’s 1992 novel Snow Crash. Its origins combine “meta” (meaning “beyond”) and “universe” to mean “beyond universe.”

The metaverse allows people to explore new cities and countries and experience different cultures and traditions without physical travel. Driven by advances in digital technology, it is rapidly becoming a new form of reality that extends our daily lives and complements the real world. In recent years, the metaverse has become one of the most discussed buzzwords in the Web3 industry, with broad consensus that it represents interactive, interoperable virtual worlds.

As the metaverse develops, experts expect seamless movement between the real and virtual worlds. Companies entering this space are advancing technology and services with that future in mind.

Types of Metaverses

The metaverse takes various forms based on its purpose and use. The table below summarizes the main types and their features.

A survey by Mitsubishi Research Institute found that 83% of 10,000 people knew the term “metaverse,” but only 5.5% had actually used one.

High-performance VR equipment is needed to fully experience the metaverse, but adoption remains limited. High upfront costs and cumbersome hardware create barriers for many users. Still, as technology advances and costs fall, wider access to the metaverse is expected.

Top 10 Metaverse Companies

Many companies have already entered Web3 gaming and are building their own virtual worlds. Funding metaverse concepts and providing consulting also play key roles in advancing the industry. Below are 10 leading companies active in the metaverse space.

1. Meta

Meta—formerly Facebook—signaled a new corporate direction when Mark Zuckerberg announced the company’s name change. In his letter, Zuckerberg committed to developing the creative tools needed to “bring the metaverse to life,” moving beyond social media.

Meta has invested heavily in VR and AR in recent years. The Quest VR device series has sold over 20 million units. In the smart glasses market, Meta’s partnership with Ray-Ban has been a success. As its next step, Meta unveiled a prototype of advanced AR glasses named “Orion,” which overlays holographic images onto the real world and can be operated using a wristband that detects neural signals.

Meta has spent a decade developing Orion and plans to strengthen collaboration with software developers for commercialization. The company is also working to expand the Ray-Ban Meta smart glasses lineup, including new models for the holiday season, further reinforcing its presence in the metaverse sector.

At its earnings briefing, Meta reported $440 million (about ¥68 billion) in revenue for its XR/metaverse division, Reality Labs—a roughly 30% year-over-year increase. However, Reality Labs’ costs reached about $4.3 billion (about ¥670 billion), a slight (-1%) decrease, but losses continue.

2. Google

Google was an early entrant in virtual reality, having launched Google Glass. While privacy concerns led to its initial withdrawal, a new version was later released with advanced AR features.

One recent focus is the development of Project Astra, an AI agent. Google has showcased new smart glasses that deliver real-time information about the user’s surroundings and answer questions hands-free.

Google has also integrated new AR-powered geospatial features into Google Maps and updated its AR development tools, enabling navigation and translation in AR environments.

Additionally, Google announced a partnership with Magic Leap to create new XR experiences by combining both companies’ expertise in AR and optics.

3. Microsoft

Microsoft’s approach to the VR and metaverse markets has evolved dramatically. The company officially ended production of HoloLens 2, with no plans for a new model, after incurring multi-billion dollar losses on the project.

Microsoft has built a strategic partnership with Meta to develop the Mesh metaverse and has launched a premium Teams version with AI features. Through this partnership, Microsoft 365 products are now available on Meta Quest devices.

Microsoft continues to invest in mixed reality and is seeking new business opportunities through partnerships with mobile and hardware platforms. The company is also integrating more closely with cloud services and focusing on enterprise metaverse solutions.

4. NVIDIA

NVIDIA has long driven GPU innovation. Its GPUs perform complex calculations efficiently and complement AI and CPUs. NVIDIA introduced the Omniverse suite of metaverse development tools, aiming to create more realistic 3D virtual worlds by leveraging its AI products and advanced hardware.

NVIDIA is also partnering with Hitachi to develop industrial metaverse solutions. This collaboration combines Hitachi’s operational and control expertise with NVIDIA’s metaverse and AI technologies to digitally replicate maintenance and inspections in factories, railways, and power plants using digital twin technology. This allows for efficient virtual simulation of equipment and machinery installations.

The companies are also jointly producing servers to shorten AI training times and plan to launch AI-equipped data servers. They are establishing a team of specialists from both companies to drive new product and system development.

5. Cluster

Cluster is Japan’s largest metaverse platform, enabling users to experience “worlds” with customizable avatars. There are over 40,000 user-created worlds, and major events like Virtual Shibuya have been hosted. The Pokémon Virtual Fest, a virtual amusement park, has also attracted large audiences.

Cluster boasts more than one million downloads and 20 million total participants, making it the leading Japanese-developed metaverse platform. The company has raised over ¥6.6 billion, with investors including TV Asahi Holdings and KDDI. Cluster also partnered with the Japanese Patent Office to create and operate a metaverse space for the G7 Heads of Intellectual Property Offices Meeting.

Cluster plays a central role in event hosting and community building and has contributed greatly to Japan’s metaverse culture. Ongoing technological advances and expanded content are expected to drive further global growth.

6. Nissan

Nissan Motor announced its entry into the metaverse sector as part of its digital transformation strategy. This includes four Web3-related trademark applications filed with the USPTO, signaling active engagement in digital commerce and virtual experiences.

The applications cover the INFINITI, NISMO, and NISSAN brands and involve virtual reality (VR), non-fungible tokens (NFTs), and blockchain technology. Nissan also plans to open virtual stores and marketplaces for trading clothing, vehicles, and NFTs.

Nissan previously launched “NISSAN HYPE LAB,” a virtual store offering a car-buying experience in the metaverse. Users can access it 24/7, interact with virtual staff via avatars, and simulate vehicle purchases. These efforts protect Nissan’s brand and address changing consumer needs via Web3 technologies.

7. Bandai Namco

Bandai Namco Group launched its “Connect with Fans” mid-term vision and rolled out its “IP metaverse” strategy. The company initiated the Gundam Metaverse project, providing a virtual gathering place for Gundam fans worldwide to interact and participate in events.

The first limited release featured Gunpla sales in a 3D virtual space, metaverse concerts by Gundam artists, and a UGC museum displaying user-created Gunpla and artwork. The AI character Mellow enabled interactive user experiences.

The project’s second phase incorporated user feedback and reopened with PC browser access and more diverse content. Bandai Namco plans to use NFT technology to enhance UGC content and C2C transactions, further developing the fan community. A third phase is planned.

8. Dai Nippon Printing

Dai Nippon Printing (DNP) has advanced its metaverse initiatives in stages. The company worked with the Tokyo Metropolitan Government to provide a “Virtual Learning Platform” for children needing Japanese instruction and for students unable to attend school, creating a metaverse environment for programming education and driving digital transformation (DX) in schools.

DNP has also partnered with Lenovo and Tokyo Shoseki on metaverse-based educational research and participated in an “Education Working Group” that proposed new educational applications for the metaverse, submitting policy recommendations to the government.

The company also worked with Kuwana City in Mie Prefecture on a pilot “metaverse city hall” project, delivering municipal services via the metaverse. Citizens could access electronic applications and consultations from home, use avatars for anonymous inquiries, and interact with others, boosting the convenience of local government services. DNP aims to expand metaverse use across municipalities and schools nationwide.

9. Apple

Apple has ramped up its metaverse-related initiatives. The most notable is the announcement of Apple Vision Pro, a new mixed reality headset that integrates AR and VR, enabling “spatial computing” with eye, hand, and voice controls.

Apple Vision Pro features 12 cameras, 5 sensors, and 6 microphones, powered by Apple’s M2 and R1 chips. Its development involved more than 5,000 patents, with emphasis on advanced eye- and hand-tracking technology.

Apple has also acquired AR and lens manufacturing companies, incorporating their technologies into its products. While Apple focuses publicly on Web2, its interest and advances in metaverse technology are expected to have a major impact on the market as a whole.

10. Epic Games

Epic Games has strengthened its position in the VR and metaverse market. Fortnite remains a core metaverse platform, with over 500 million user accounts. The free, cross-platform game regularly hosts virtual events such as concerts and exclusive movie screenings.

Epic Games announced it raised $2 billion from Sony and KIRKBI to develop the metaverse, aiming to enhance Web3 access. Disney also invested $1.5 billion, deepening its partnership with the Fortnite developer. This collaboration brings new games and entertainment experiences featuring Disney, Pixar, Marvel, and Star Wars characters, letting users “play, watch, shop, and connect.”

Epic Games is also spotlighting “UNREAL FEST” in Tokyo, a free event covering Unreal Engine game development and other presentations. Highlights include the RealityScan experience room for creating 3D models on smartphones and ecosystem showcases.

The Future of Metaverse Companies

Major brands and tech companies have long been interested in the metaverse’s potential—even before practical adoption. Some companies featured here may become key players, while others may falter. The metaverse is growing rapidly, with constant new developments.

The World Economic Forum has projected the industrial metaverse could reach a $100 billion global market. By integrating transformative technology into the industrial value chain, the industrial metaverse can remove physical constraints through digitization, offering mobility, adaptability, and real-time interoperability. The report also points to integration with AI, Web3, and blockchain.

Japan’s Information and Communications White Paper predicts the domestic market will grow to ¥1.042 trillion, with the Ministry of Internal Affairs and Communications estimating 17.5 million metaverse users in Japan.

Regulatory reports indicate that the US and EU are strengthening privacy and child safety laws for metaverse adoption, which may apply to the sector. Governments in South Korea and China are actively developing plans to promote their metaverse industries.

Metaverse technologies are expected to find applications in entertainment, education, healthcare, manufacturing, and more—potentially becoming essential infrastructure. Companies are investing and innovating to stay competitive as the market evolves.

FAQ

Which companies rank in the top 10 metaverse entrants?

The top 10 metaverse entrants are Meta, Roblox, Epic Games, VRChat, Niantic, Microsoft, Kabushiki Kaisha V, Toppan Printing Co., Ltd., HIKKY Co., Ltd., and REALITY Co., Ltd.

How much are major companies investing in the metaverse industry?

Meta Platforms has invested several billion dollars, Microsoft is focusing on gaming, and NVIDIA is investing in its Omniverse platform. Each company’s investment ranges from several million to several billion dollars.

How do Meta and Microsoft differ in their metaverse strategies?

Meta is building a metaverse centered on social interaction and entertainment, while Microsoft prioritizes business applications and integration with enterprise tools. Microsoft’s strategy emphasizes practical use and efficiency in corporate environments.

Which company is most advanced in metaverse technology development?

Meta (formerly Facebook) is the most advanced in metaverse technology. The company leads the industry in virtual reality and continues to offer cutting-edge VR and AR technologies through 2026.

What are the growth prospects for the metaverse industry and the role of leading companies?

The metaverse industry is expected to reach ¥1.87 trillion by 2028. Leading companies are driving growth through strategic investment, enterprise solution development, and expansion of the consumer market via XR devices and AI innovation.

How involved are Japanese companies in the metaverse industry?

Japanese companies are actively expanding in the metaverse. Major players like Sony, SoftBank, Hitachi, and Marubeni are investing in virtual fashion, AI-powered avatars, and enterprise training. With government digital transformation support, the market is projected to reach $1.5275 trillion by 2037.