It is estimated that the Metaverse GDP will surpass the real world’s! There are some robust investments within the Metaverse, the best example being the $120B invested in the first five months of 2022.
According to Times, the U.S. Securities and Exchange Commission (SEC) reported that in the first six months of 2022, the word metaverse appeared more than 1,100 times in regular deposits. Compared with the previous year, the world metaverse appeared 260 times in total and less than 12 times in the past two decades.
The word Metaverse first came into the spotlight when Facebook rebranded its name to “Meta.” Moreover, the social media giant decided to spend more than $10B yearly on this project.
In January, Microsoft announced that they bought Activision Blizzard for $75B. This is the biggest buyout in the history of tech firms! But why games? The games offer the vital ingredients and infrastructure used for the Metaverse. The game industry is pioneering in metaverse projects, not social media ones!McKinsey consultants estimate that technology companies such as Nvidia and Shopify, as well as Venture Capitals, directed a total of $120Β in metaverse-related investments in the first five months of this year.
Despite the investment frenzy, Meta’s virtual reality and Metaverse Division Reality Labs continued to record damages for the seventh consecutive quarter. As Zuckerberg said in the presentation of the results of the group’s second quarter, the losses could continue for many more years, especially if difficulties in the global macroeconomic environment continue. According to analysts, he is not unjust that has turned his attention there. Citi and KPMG believe that the Metaverse could generate revenue of up to $13T annually by 2030.
Morgan Stanley and Goldman Sachs have calculated $8T in both the U.S. and China. McKinsey foresees $5T worldwide. Jensen Huang, the founder, and chief executive of Nvidia, believes that Metaverse GDP will eventually exceed the “natural world” one.
The Metaverse Effect On Our Lives
Just imagine how much this could change our lives. The first indications show that it will not be a window into our lives like Instagram. Not even a distant way of communicating, such as Gmail. With the help of advanced technological equipment, we will “live” the socialization experience. We will experience “contact” in an immersive way.
Today, almost 1/3 of his life, the average American passes it by watching television, playing games, or watching social media. The fear, but also the fear of transitioning to this new reality, seems justified. As we spend more time in the digital world, we spend more than we have and pay more energy to build social status within online communities.
The idea of living, socializing, and working in a virtual world through digital devices, raises significant moral dilemmas and critical concerns. It will make many tricky problems more complex such as users’ rights, data security, and misinformation.
The problem is much greater than which company will have a larger market share. From a very early age, in the distant… 2016, Epic Games CEO Tim Sweeney claimed that “if a central company acquires control of Metaverse, it will become more powerful than any government.” It seems that he was right.
Maybe it is too early to be concerned so profoundly. The technology is currently not available to expose the Metaverse to everyone. This project needs more developed devices such as virtual reality glasses, holographic screens, and, no matter how scary it sounds, wires to send electrical signals to be sent to the muscles.
As said before, it is too early to be concerned about all this stuff, but until then, be prepared mentally, emotionally, and most importantly, in the investment form.
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