New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

Now you knowRandom

Exploring The Metaverse Economy

1 Mins read

The metaverse is a real-time, three-dimensional world that is accessible through Virtual Reality (VR) headwear. The metaverse also called ‘the immersive internet’ is a multi-technology that incorporates the hardware infrastructure with immersive technology, blockchain technology, computer vision, and universal interfaces. Globally, the metaverse is still in the developing stage as stakeholders work to figure out its innovative and practical applications apart from the gaming industry where it is currently thriving.

The concept of the metaverse is the integration of the human, physical, and digital worlds to create a virtual world parallel to the real world; breaking the limitation of space and time.

The Metaverse Economy
The advent of the Metaverse has opened up the technological space with a myriad of innovations.
The application of the metaverse includes gaming, tourism, building a smart city, entertainment, remote working, education and social networking amongst others. Internet penetration, increase in smart devices, development of blockchain technology; and the growth of Web 3.0 combined have paved the way for metaverse to take shape.

Gaming is considered to be the entry point to the Metaverse world. Realising this, brands and industries such as fashion, music, cosmetics, sports, and education, are already partnering with gaming industries to incorporate their brands into the gameplay. Transportation, defence, and smart cities are joining the metaverse world much later.

According to CB Insights’ Industry Analyst Consensus published in April 2022, the Metaverse could be worth US$1 trillion by the end of the decade.

The development of Metaverse applications like gaming, virtual learning, entertainment, socialisation, and tourism is inadvertently growing the Metaverse economy and changing the way people lead their lives.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

340 posts

About author
We are the same, we may only be different in our experiences, values and exposures. Technology is a big part of my experience, learning is one of my values and writing my credible means of exposure.
Articles
Related posts
ArticleRandom

Top 10 Skills To Include Your Resume In 2024 According To WEF

2 Mins read
Do you still include skills like “Team player”, “Proficient in Microsoft Office” or “Hardworker” in your resumes? If you are still caught…
ArticleRandom

3 Reasons Why You Should Become A Content Creator

2 Mins read
In today’s digital age smartphones- a device capable of connecting the world is just as common as picking pebbles of stone on…
Random

WhatsApp Users Can Pin Multiple Messages in Chats

1 Mins read
Calling all chronic scroll-back sufferers! WhatsApp has heard your pleas and addressed a long-standing limitation of its chat functionality. The messaging giant…
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here - t.me/TechpadiAfrica

Leave a Reply