The metaverse camera has become the source of the future for Matterport

Technology companies Matterport, Inc. (MTTR) have experienced a solid double-digit decline since the beginning of the year, as have securities of other innovative companies. But Matterport is widely used in promising virtual reality (VR) and metaverse ecosystems. 

Matterport has developed a technology for creating VR copies, that is, algorithms for capturing three-dimensional images that allow you to create a virtual model of a real object quickly. Such capabilities are not new since manual 3D scanners have for a long time. But Matterport’s developments are three-dimensional scanners and a comprehensive, flexible platform. Matterport has professional scanners for creating VR copies of vast spaces, such as a residential complex, and innovative compact tripods for 3D shooting smartphones. 

The data obtained can be integrated into application applications. In particular, with the help of a smartphone camera, you can make notes on the room’s interior and then send them to the VR model with which decorators and other specialists work. VR copies made using Matterport technologies are used in the hotel business, construction, industrial equipment maintenance, insurance companies, etc. 

Matterport three-dimensional cameras by more than 500 clients and have already digitized about 7 million different spaces. As a result, the quotes of Matterport were negatively affected by the decline in revenue forecasts. 

In 2022, the company expected revenue of $202 million but lowered its forecast to $130 million in the fourth quarter. At the same time, a new promising addressable Matterport market has not yet: metaverses that may need simple and practical tools to create a large number of VR copies.