The Metaverse is already here: 5 companies building our virtual reality future

Microsoft announced the Hololens mixed reality glasses in 2015. Rather than flood the consumer market with marketing hype, Microsoft quietly launched Hololens a year later as an industrial manufacturing tool targeted to a select group of enterprise firms. The $3,000 commercial suite shipped with a professional edition of Windows, with extra security features and software to aid application development. The second iteration had a better set of cameras and lens mounts allowing for more precise operation, and offered a broader range of software capabilities including industrial applications . 

If you believe the rumors, Apple has been on the cusp of releasing AR glasses for years . The iPhone maker released ARKit , the developer framework for creating augmented reality applications for Apple devices, with iOS 11 in 2017. According to the tech website The Information , Apple held a 1000-person meeting in 2019 to discuss AR on the iPhone and two potential future products, the N421 smart glasses and N301 VR headset . Analysts now speculate that Apple is gearing up to release AR products in 2022 and beyond.   

Valve's Index headset is arguably the most robust consumer virtual reality product on the market. The high-resolution screen is smooth, and the controllers offer unmatched control inside virtual reality and gaming environments. The Index is also integrated with Value's Steam video game marketplace, which means the device is already stacked with compatible content.

Although the idea of virtual reality was partially inspired by science fiction novels , Big Tech's modern vision of an AR and VR future is directly inspired by Magic Leap. Founded in 2010, the company raised over $500  million  in 2014 from companies like Google and chip maker Qualcomm. In 2015 the firm released a stunning video that purported to demonstrate the product's technology. But skeptics questioned the technology and the eventual product was panned .