NVIDIA forms partnership with metaverse Marketplaces, distributes free Omniverse Software copies
NVIDIA, a multinational provider of graphics processing units and integrated circuit technologies for workstations, personal computers, and mobile devices, seeks to expand its metaverse product line.
The metaverse is a term used to characterize the next generation of internet content, in which users will be able to interact with items (and other people) in virtual environments in a more immersive, multisensory, and richer way. Virtual Reality, Augmented Reality, Non-fungible Tokens, Artificial Intelligence, Cryptocurrencies, Procedural Image Generation, and a slew of other innovations are all part of it.
Building the metaverse free of cost
According to Reuters, NVIDIA is not working on metaverse or metaverse-related things. Instead, it has created a program to help artists and content producers create virtual environments and products that improve the user’s metaverse experience.
To that goal, NVIDIA stated that an undisclosed number of artists will receive complimentary copies of its “Omniverse” software. For business clients, an annual license for this product starts at $9,000 per year.
NVIDIA has released Omniverse, a new toolset for generating virtual environments and metaverse-ready products. Users will be able to develop items or worlds that can later be sold on third-party marketplaces.
In addition, the business launched a series of collaborations with a number of markets aimed at the distribution of metaverse-related material. Although NVIDIA did not share the details of the agreements, they did say that the initial ones involved TurboSquid from Shutterstock, Sketchfab, CGTrader, and Twinburu. Daz3D, ActorCore, and PlantCatalog will all be releasing Omniverse-ready assets in the near future.
The Blockchain Industry and NVIDIA
NVIDIA is intensifying its plan to solidify its position in the emerging metaverse market with this move. Several observers predict that the metaverse will become a major business in the medium term, potentially infiltrating conventional gaming. Within five years, according to Wells Fargo analyst Aaron Rakers, product creation tools for the metaverse may become a $10 billion market opportunity.
NVIDIA’s partnership with the blockchain ecosystem has been extremely beneficial to the company. Its stock has risen 187 percent in the last year, owing to a surge in sales of its graphics processors, which was fueled mostly by demand from miners of proof-of-work cryptocurrencies like Ethereum.
NVIDIA’s research in graphics processing, in addition to hardware development, is impressive and may substantially promote the creation of superior metaverse goods, notably owing to artificial intelligence algorithms for extremely realistic face and landscape rendering.