Big Tech corporations will pump billions of dollars into the metaverse in 2022, making it a “gamechanger” for the metaverse
Highlights
- As Big Tech invests in the metaverse, BlackRock expects 2022 to be a “gamechanger” for the metaverse.
- Microsoft agrees to pay $75 billion for video game publisher Activision in the metaverse.
- According to investors and analytics companies, sales of metaverse real estate reached $500 million last year and could rise this year.
Technology is transforming marketing and reshaping the environments in which marketers engage their prospects. The evolution of the metaverse is one such defining development that will have a massive impact on the human interaction experience.
Marketers are both excited and puzzled by the metaverse, and they’ve started making plans to reach out to their digital-first prospects who will be more active inside the metaverse than outside.
Marketers have a significant opportunity to engage their target audience in a unique and exciting dimension, thanks to the metaverse. Customers will engage in novel interactions and behaviours in the metaverse, necessitating considerable customization of product and service offerings by brands.
According to MetaMetric Solutions, real estate sales on the four main metaverse platforms amounted $501 million in 2021. According to the metaverse data source, In January, revenues surpassed $85 million. If current sales trends continue, revenues could top $1 billion in 2022.
Facebook’s Oct. 28 announcement regarding their rebranding as Meta to focus on the metaverse sparked a recent surge in sales.
According to MetaMetrics, real estate transactions increased over several folds in November, to $133 million. Despite the fact that sales have dropped since then, January’s total will be more than ten times that of January 2021.
According to Brand Essence Market Research, the metaverse real estate market will grow at a compound annual rate of 31 percent.
The NFT Market’s Recent Boom; Numbers and Logic
Billions of dollars’ worth of NFTs being exchanged in 2021 might just be the start. The leading NFT marketplace, Open Sea, currently handles over $14 billion in NFT trades.
Another example of how NFTs developed from a niche trend to a worldwide show is the NFT-game Axie Infinity, which is growing at an incredible rate. Coca-Cola, Microsoft, Nike, and Twitter are few of the well-known brands that use NFTs.
Proof of absolute ownership and corporate interest are two factors that contribute to the NFT market’s growth. People revel in the ownership of digital assets thanks to NFTs, and businesses jumping on board have spurred the industry’s growth and attracted the public.
The NFT and crypto bandwagon is embarking on a new and interesting journey in 2022: Metaverse. They’re changing the way people communicate. They’re creating a parallel universe in which users can create digital identities backed by NFT assets.
What is Metaverse?
It is a fragile idea. It’s a term that refers to online worlds where people can socialize, work, and play as avatars. and it’s a development of the internet.
Those locations are shared and available at all times; unlike a Zoom call, they don’t disappear once you’ve used them.
Many people predict that the metaverse already exists in the virtual worlds of Roblox, Minecraft, and Fortnite, which allow players to interact in two-dimensional environments. Second Life, a nearly two-decade-old social and game platform, was the first one.
CEO of some biggest companies like Facebook and Microsoft and some other partners imagine a more interactive experience that integrates existing technologies like as virtual reality headsets, mobile devices, personal computers, and cloud-connected servers.
The establishment of a 3D virtual environment that may be accessed through the use of a headset or augmented reality glasses is envisioned by these futurists.
There’s no agreement on whether you’ll need VR or AR to access the metaverse, but they do go hand in hand. As a result, our headsets will work with whatever you have on hand. This year, new VR and mixed reality headsets are expected from Meta, Sony, Apple, and possibly others.
After two years of a pandemic, we had to redefine “virtual.” No one has predicted how the future will appear. However, a reconsideration of what it means to meet virtually to a large number of people is in the process. And there are a lot still working to define it.
Edited by: Mahi Gupta
Published by: Vishakha Verma
