Metaverse is a rapidly expanding trend that will have significant impact on business, culture, entertainment, and marketing. Mark Zuckerberg believes that metaverse could be the next best thing to teleportation and Gartner recently named the metaverse one of the top five emerging trends and technologies for 2022.
The term Metaverse
Has been created by combining prefix “meta’ that means ‘beyond’ and word ‘verse’ that stands for ‘universe’. So, the Metaverse means ‘beyond the universe’.
As the metaverse evolves, more and more virtual worlds will have increasingly sophisticated interactions.
Let’s take a close look at some metaverse key facts and figures.
- Meta is going to create 10,000 jobs in the European Union during coming 5 years.
- Epic Games raised $1 billion in April 2021 to expedite the metaverse’s long-term vision.
- Metaverse might be valued $800 billion by 2024. This is an increase from $47 billion in 2020 while ️the global AR, VR, and MR market is expected to reach $300 billion by 2024.
Several prominent tech companies consider metaverse as an unprecedented opportunity to expand their reach. But Metaverse is a great interest not only for tech giants. Disney is developing a metaverse theme park, Coca-Cola has recently auctioned its first NFT, Nike ️ has already filed four patent and trademark applications for downloadable virtual goods operational in the metaverse.
- By 2024, there are estimated to be 1.7 billion mobile AR users worldwide, up from 200 million in 2015.
- The mobile AR industry is expected to be valued over $26 billion by 2025.
- The top three variables listed by Extended Reality (XR) industry professionals as driving the AR market past VR are cost, accessibility, and safety.
Businesses and users are continuing to embrace digital future. While experts predict that it will take another five to ten years for individuals to fully experience a metaverse, users can now participate in metaverse-like initiatives and integrate blockchain into their daily life.