Metaverse Today

Image Credit: Bitkraft

In the next few years, the Metaverse is expected to emerge primarily through virtual reality. This is an alternative digital world that can be used for a variety of personal and business purposes.

Extended Reality (XR) is making rapid progress towards mainstream adoption, with predictions that VR and AR headsets will surpass global game console shipments as soon as 2024. The widespread acceptance of XR headsets could revolutionize the human digital experience and provide an entry point for the Metaverse. 

For now, the law that govern Metaverse and its integration into our lives seamlessly are still in the works. The metaverse is build as open source system and based on community standards where it has no single owner, operator, or inventor.

Big Corporate Involvement

Digital transformation had already been underway for years and it is accelerated when the pandemic hit. Digital transformation became crucial for many businesses’ survival which include anything from grocery shopping and car sales to conferences and trade fairs. Many tech companies, including Microsoft, Facebook, Nvidia, and Epic Games, have sought to make the metaverse a reality since its inception.

Dubai seeks to enter the world’s top 10 Metaverse economies as part of a new strategy that envisions the sector supporting up to 40,000 virtual jobs in five years and adding $ 4 billion to the city’s GDP. Dubai Crown Prince Sheikh Hamdan bin Mohammed launched the plan with the objective to increase the number of blockchain companies by five times in five years as government’s goal.

Job Creations

Image Credit: Jon Radoff

With the use of technologies like virtual reality (VR), augmented reality (AR), and brain-computer interfaces (BCI), the metaverse is opening up a slew of new economic prospects for people all over the world.

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