The future will see physical boundaries receding. Humans can interact more freely without being bound within the confines of physical space.
How is this going to happen?
The answer is the metaverse!
The metaverse is a digital 3D space that can simulate real-world conditions. People can enter the metaverse and socialize, work and study in it. Metaverse Education, metaverse shopping to even metaverse real estate deals can all be carried out.
And it’s an immersive space, implying that the user does not feel disassociated from the space. Rather, the user feels like they are within that space or environment and carrying out a said activity.
But, physically, the user is seated within their home, office or class.
So how does this immersion happen?
Users enter as their avatars and experience all activities in the immersive virtual space.
No wonder analysts are upbeat about metaverse investments. Many companies are working on establishing a brand presence to offer innovative metaverse solutions and products to customers.
– Gartner estimates that by 2026, more than 25% of people will be in the metaverse for an hour per day.
That’s a huge market that businesses would want to capture.
Metaverse Trends and Statistics
The metaverse is still in an evolutionary state. However, the technology is revolutionary and can potentially transform all sectors and industries, from education to healthcare, social media, and real estate.
Let’s take a look at what the current trends dictate.
- The metaverse market will touch 4800 bn by 2024 (Sooical.com)
- The market capitalization of Web 2.0 metaverse companies stood at $ 14.8 trillion in 2021, as per Statista estimates.
- Facebook has rebranded to Meta and to show its interest in metaverse technology, has created Facebook Reality Labs and invested around $10 billion in 2021.
- Facebook has a thriving user community of 2.6 bn and can convert its metaverse platform into a robust business ecosystem
- The term metaverse was mentioned over 84, 000 times on social media in 2021, as per Comscore
The metaverse will thrive on the parallel growth of its associated technologies like AR-VR-MR, Blockchain, NFT, AI and many more. Investors see a lot of potentials, and many individuals and celebrities seek options for making Metaverse Investments. It is expected to be an extension of our realities, and we can define our virtual realities. The scope for its applications is immense. Education, healthcare, and Industry all set to gain from metaverse power if tapped in the right direction.
Sectoral Trends in Metaverse Investments
– As per a McKinsey report, private capital in 2021 companies dealing in metaverse solutions raised more than $10bn. The investment amount raised was more than twice that of the previous year.
This shows an exuberance towards technology. Many big companies are leading the way with metaverse investments. It may take a while before the metaverse becomes mainstream, but early investment opportunities will make the difference.
- Internet companies are gearing up to offer next-gen technology solutions by targeting platform and hardware components.
- Virtual Gaming will escalate with the play-to-earn model. Leading investment firm, Grayscale estimates global revenues of $400 billion by 2025 from virtual gaming.
- Sotheby’s, the world’s leading art gallery, has opened Sotheby’s Metaverse, a virtual art gallery. It is housed under Decentraland, and visitors can view digital artworks. Their NFT sales have already crossed $100 mn since opening. (Fidelity)
- Metaverse Real Estate is a hot trend in metaverse investment. Many people are investing in digital land.
- Music artists are holding concerts and attracting millions of global fans to view their concerts without travelling to the venue.
- The metaverse business economy is opening up investment opportunities in digital assets, NFTs and Cryptocurrencies.
- As the metaverse evolves, new business dynamics will crop up, as will new professions. It is best to seek professional advice and invest in a diversified portfolio to get the maximum returns.
The Way Ahead
The metaverse is evolving into a truly immersive and ubiquitous platform. Metaverse land investments hence are rising. Many brands and individuals are converging to take advantage of its potential. Interactions and social and work connections will take on a new dimension. Teams can collaborate from anywhere in the world in 3D digital spaces via avatars. With the seamless blending of physical and virtual lives, the metaverse applications and investments will only increase in range and scope.
Edverse is a holistic metaverse solutions provider offering innovative educational metaverse solutions. Edverse is opening new vistas to learning and training solutions to decentralize and democratize education. Education will never be the same again.
The metaverse will bring many positive changes if humans act responsibly. The platform will leave many social and cultural imprints.