A diverse set of standard companies and organizations announced on Tuesday the formation of a new group to oversee the development of the metavers. The news was positive for several metaverse actions.
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Hosted by the Khronos group, the Metaverse Standards Forum hopes to set interoperability standards for the planned metaverse. Metavers is a future version of the Internet with immersive three-dimensional virtual worlds that replace static two-dimensional websites.
Metavers covers a number of technologies in the field of collaborative space computing. These technologies include 3D interactive graphics, augmented and virtual reality, digital twins, online savings, multiplayer games, and more.
Industry leaders believe that the potential of metavers will not be realized unless it is based on open standards. The Forum is scheduled to begin meeting in July.
Metaverse shares represented in the new group
The companies considered metaverse actions that have joined the new group include Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA) and Unity Software (U).
Other companies on board as founding members include Adobe (ADBE), Alibaba (BABA), Autodesk (ADSK), Epic Games, Ikea, Qualcomm (QCOM), Sony (SONY) and Wayfair (W).
“The metavers will bring together diverse technologies, which require a constellation of interoperability standards, created and maintained by many standards organizations,” Khronos president Neil Trevett said in a press release. Trevett is also vice president of developer ecosystems at Nvidia.
He added: “The Metaverse Standards Forum is a unique venue for coordination between standards organizations and industry, with a mission to promote pragmatic and timely standardization that will be essential for an open and inclusive metaverse.”
Notable company that disappeared from the group
A notable company that regularly trades on metavers shares, Roblox (RBLX), is not among the first members of the group.
On the stock market today, metaverse stocks in the news include Microsoft, Nvidia and Unity. However, shares of Meta fell despite a rebound in technology stocks on Tuesday.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software, and semiconductor stocks.
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