Which Social VR Platform Has Been the Most Successful at Raising Money?

Image by Capri23auto from Pixabay

There’s been a very interesting discussion taking place today on the RyanSchultz Discord server. One of the regular contributors to the many conversations that take place there, Michael Zhang, pulled together the following information from Crunchbase:

Today I Learned: Building social VR, MMOs, and virtual worlds are a lot more expensive than I imagined!

From Crunchbase:

-High Fidelity raised $72.9 million over five rounds and is struggling with their recent pivot to enterprise.
-Rec Room raised $29 million over two rounds, $24 million only recently, so they lived off of $5 million for several years.
-Altspace raised $15.7 million over three rounds, went bankrupt and shut down, then revived when bought by Microsoft.
-Bigscreen raised $14 million over two rounds.
-TheWaveVR raised $12.5 million over three rounds.
-vTime raised $7.6 million over one round.
-VRChat raised $5.2 million over two rounds.
-JanusVR raised $1.6 million over two rounds.
-Somnium Space raised $1 million over two rounds.

In comparison:

-Epic Games raised $1.6 billion over two rounds, $1.25 billion coming after Fortnite.
-Mojang’s Minecraft launched in 2003, started making profits in 2007, earned $237.7 million in revenue by 2012, and sold to Microsoft for $2.5 billion. (Wikipedia)
-Roblox raised $187.5 million over seven rounds.
-Linden Lab’s Second Life raised $19 million over two rounds.

Then, another contributor named Jin put together this graph to illustrate how successful the various social VR platforms have been in raising venture capital (please click on this picture to see it in full size on Flickr, or just click here). As you can see, High Fidelity is far and away the leader in raising money!

Social VR Platforms Raising Money

(In comparison, Decentraland raised 24 million dollars in their initial coin offering. Jin also made a second chart including Decentraland, but I have not included it here because, unlike the other platforms, it does not currently support VR, and it is unlikely to do so anytime in the near future.)

Thank you to Michael Zhang and to Jin for their work!

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Social VR App vTime Relaunches as vTime XR, Now Supports both Virtual Reality and “Augmented Reality”

The app formerly known as vTime is now called vTime XR, and (in a bit of surprising news) it now offers a so-called “augmented reality” mode. I don’t really consider it true augmented reality, since it doesn’t work with an AR headset like the Magic Leap One or the Microsoft Hololens. (It’s more like Pokémon Go, where you’re looking through your cellphone.)

vTime XR also supports a variety of VR headsets and 2D/flatscreen viewing, which the company whimsically calls “Magic Window mode”.

Here’s the new promo video:

I notice they’ve also added a lot of new hand gestures that weren’t there before. The slickly-produced video almost obscures the fact that your avatar is still locked in place in one of four seats in all of the vTime environments (in this it is similar to Facebook Spaces, in that you are limited to a maximum of four avatars in one experience).

However, as the video demonstrates, vTime XR offers you a lot of different, beautiful scenes for you to meet up with your friends (or, far more likely, other people you don’t know who happen to be using vTime XR at the same time you are).

vTime XR is an interesting update to vTime, which you might want to take a look at. Or not, considering how much more you can get from other social VR platforms that actually let you move around freely.

However, vTime XR does support pretty much any computer hardware you have, including cellphone-based VR like Google Daydream:

An Updated Comparison Chart of the Twelve Most Popular Social VR Platforms

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I decided to update my original comparison chart of the 12 most popular social VR platforms, according to my reader survey. Note that in this chart, I excluded platforms that did not have VR support (e.g. Second Life, OpenSim-based virtual worlds, etc.).

I also did not dwell on technical details, such as the underlying game engine, user creation tools, etc. Instead, I focused on the three things of most interest to consumers:

  • How you can access the platform;
  • What options do you have for your avatar;
  • And whether you can go shopping!

This print on this chart is a little small to show up on the constrained width of this blogpost, so I saved it as a picture to FlickrJust click on the chart below (or the link above) to see it in Flickr in a larger size.

Comparison Chart of 12 Social VR Platforms 25 Nov 2018

You can also download this chart from Flickr in any size up to its original size (1488 x 920 pixels).

If you feel I’ve made any mistakes, or left anything important out, please leave me a comment below, thanks! I do hope that people who are trying to figure out which social VR spaces to explore will find this comparison chart to be a useful and handy tool.

UPDATE 2:03 p.m.: I’ve just been informed that there is an Android app for vTime. Thanks for the tip, Stephanie Woessner!

UPDATED: A Comparison Chart of Twelve Popular Social VR Platforms

UPDATE Nov. 25th: I have updated the comparison chart! You can see it here.

bigfive

From my recent blog reader poll results, I got the following results on who has created user accounts on which social VR spaces:

The “Big Five” social VR platforms

After Second Life and OpenSim, the next biggest section of the reader responses were these five newer social VR platforms:

  • Sansar (149 readers, 8.87%)
  • High Fidelity (145 readers, 8.63%)
  • VRChat (101 readers, 6.01%)
  • Sinespace (83 readers, 4.94%)
  • AltspaceVR (68 readers, 4.05%)

Not far behind were a few more newer competitors

  • Rec Room (54 readers, 3.22%)
  • Somnium Space (53 readers, 3.16%)
  • Bigscreen (35 readers, 2.09%)
  • Facebook Spaces (29 readers, 1.73%)
  • Oculus Rooms (26 readers, 1.55%)
  • vTime (20 readers, 1.19%)
  • TheWaveVR (16 readers, 0.95%)

So, I decided to draw up a detailed comparison chart of just these 12 social VR platforms. Note that in this chart, I excluded platforms that did not have VR support (e.g. Second Life, OpenSim-based virtual worlds).

I also did not dwell on technical details, such as the underlying game engine, user creation tools, etc. Instead, I focused on the three things of most interest to consumers:

  • How you can access the platform;
  • What options do you have for your avatar;
  • And whether you can go shopping!

This print on this chart is a little small to show up on the constrained width of this blogpost, so I saved it as a picture to Flickr. Just click on the chart below (or the link above) to see it in Flickr in full size. You can also use the Flickr magnifying glass to get an even closer look!

Social VR Platform Comparison Chart 22 Oct 2018

You can also download this chart from Flickr in any size up to its original size (1656 x 914 pixels).

If you feel I’ve made any mistakes, or left anything out, please leave me a comment below, thanks! I do hope that people who are trying to figure out which social VR spaces to explore will find this comparison chart useful.

UPDATE Oct. 23rd: Someone on the Virtual Reality subReddit has helpfully pointed out this thread on the official Sansar website’s Feature Requests section, where it would appear that Sansar does now work with Windows Mixed Reality headsets. Sansar user Vassay wrote in July 2018:

After Windows 10 April update, WMR headsets work with Sansar in full scale – meaning all the benefits, including moving your avatar. Tested and confirmed on several systems already.

One thing to be weary is that Sansar works with WMR headsets through SteamVR libraries, so some updates to SteamVR can sometimes break things. But from what I’ve seen, things are mostly stable and work correctly.

Happy VR to all 😉

Also, there is an interesting comment on the discussion thread about this chart over on the High Fidelity user forums:

Clothing in High Fidelity is doable, but is limited at this time to whichever avatar is was made for, since global clothing options isn’t really a thing.

So can you have clothing in High Fidelity? Yes, and not just attachments either. Apparently Ryan forgot that Menithal’s robes are completely separate, that items made in Marvelous [Designer] do work here, or that I had a greeter uniform before all greeters got one…

Menithal in Clothing.jpeg

To which I would reply: Yes, technically you can make clothing for your custom avatar in HiFi (if you have the skills), but there is still no default, dressable avatar for which you can buy clothing from the marketplace, like you already can in both Sinespace and Sansar. Note that I am making a specific distinction between actual avatar clothing that conforms to your body and the simpler avatar attachments (such as hats and wings) currently offered at the in-world stores in High Fidelity.

Second Update: It turns out that Windows Mixed Reality headsets will work with any SteamVR-compatible virtual world. High Fidelity users report they can use their Windows MR headsets to navigate very well in HiFi.