February 5, 2023

The Metaverse will reshape entertainment and our social lives

Term "Metaverse" continues to dazzle with headlines: more than 60% of people meet him in their Everyday life.However, difficulties remain in the way of its wide distribution. In the past year, the metaverse has gained significant traction as global corporations have tried to capitalize on its popularity. The Metaverse has become Mark Zuckerberg's favorite project; the head of Facebook even went so far as to rename the company to Meta. However, his over-enthusiasm eventually caused the company's share price to drop.

But despite this, by 2030 it is reportedits value will reach $5 trillion. During the pandemic, many people experienced loneliness caused by social isolation and isolation. And while the pandemic is a thing of the past for most, the level of social interaction is still low. The Future of the Metaverse In the future, many people will choose between no social interaction and VR interaction. And interaction in the metaverse promises to be more interactive than sending texts or viewing photos.

Corporate adoption of the metaverse.Big companies are betting big on the metaverse, given its implications for socialization. Social anxiety fades into the virtual world, behind the anonymity of a VR headset. This is just one of the many real-life applications that metaverses can bring to everyday life. CoinWire shared some data to help understand the useful aspect of the technology, including feedback from more than 10,000 respondents surveyed last December. 69% of candidates surveyed said that the metaverse will influence their choice of entertainment in everyday life. At the same time, 65% claim that the metaverse will change the structure of their social activities.

Positive opinions about how the metaverseimpact on finance, business and education were also high - 61.20%, 49.60% and 45% respectively. For example, over the past five years, Microsoft has received 158 patents related to the metaverse, ahead of competitors such as and Epic Games.

Countries preparing for the metaverse.Moving from companies to countries, the United States is the most innovative region incorporating metaverse technologies. However, China, followed by India, is not far behind.

Even at the 2023 World Economic Forum,held in Switzerland last week discussed the emergence of the metaverse. The WEF was developing its "Defining and Creating the Metaverse" initiative, which was attended by over 120 people. The hype has led to a significant increase in the number of projects related to the metaverse.

Prices for MANA from Decentraland and SAND from Sandbox,among others, have risen significantly over the past two years. Currently, the total market capitalization on CoinMarketCap is $14 billion. Moreover, prices for these tokens are expected to rise. Earlier today, there were rumors that Apple would merge virtual reality (VR) and augmented reality (AR) headsets. However, there are certain difficulties along the way. The main obstacle is regulations. This is one reason why interest has remained relatively stagnant and explains Google Trends data showing a gradual decline in interest over time for the search term “metaverse”.