After the excitement subsides, companies that focus on accurate positioning, continuous development, and outstanding ability will produce a viable Metaverse that inspires renewed excitement.ĭeloitte China launches the report of The Metaverse Overview: Vision, Technology, and Tactics to discuss the development vision of the Metaverse, analyze current stage of Metaverse technologies and cases, build the framework of the Metaverse industry, and explore how companies should respond to Metaverse opportunity.ġ. The Metaverse will fundamentally reshape people's productivity, lives, and social relationships, in time creating a new world.
With the sharp drop in Metaverse-related stock prices in 2022, excessive enthusiasm of capital market has since started to subside, and people now view the Metaverse opportunity more rationally. A glance at the global and Chinese markets reveals that the Metaverse is by no means just an experiment for small-scale players, but has become a landscape for all of humanity to explore the next stages of development in society, technology, legal systems, and the arts. The world's biggest fashion companies have also experimented with making virtual clothing, which people's avatars can wear in metaverse environments.Looking back at 2021 – the first year of the Metaverse – its breakout was much more intense and the responses of market participants were much faster than they were when the internet entered global consciousness. For example, in September millions of people watched the singer Ariana Grande virtually perform in Fortnite, Epic Games said. Musicians can do virtual concerts within these platforms. Epic Games' Fortnite is also considered to be part of the metaverse. The popular children's game Roblox (RBLX.N), which had its New York Stock Exchange debut in March, describes itself as a metaverse company. The term is popular in Silicon Valley, with Microsoft also having mentioned converging the digital and physical worlds. The idea of the metaverse is attracting a lot of interest from investors and companies who are keen to be part of the next big thing.įacebook CEO Mark Zuckerberg said in July that the company will try to transition from being a social media company to a metaverse company in the next five years or so. As more people have started working and going to school remotely, there has been increased demand for ways to make online interaction more lifelike. The accelerated interest in the metaverse can be seen as a result of the COVID-19 pandemic. The idea of the metaverse is that it will create new online spaces in which people's interactions can be more multi-dimensional, where users are able to immerse themselves in digital content rather than simply viewing it. WHY IS IT TAKING OFF?įans of the metaverse see it as the next stage in the development of the internet.Īt the moment, people interact with each other online by going to websites such as social media platforms or using messaging applications. Currently, most virtual spaces look more like the inside of a video game than real life. Many science fiction books and films are set in fully-fledged metaverses - alternative digital worlds which are indistinguishable from the real physical world. In these, users can buy virtual land and other digital assets using cryptocurrencies. There is also a specific type of metaverse which uses blockchain technology. Some people also use the word metaverse to describe gaming worlds, in which users have a character that can walk around and interact with other players.
The term can refer to digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR). It generally refers to shared virtual world environments which people can access via the internet. The concept of the metaverse is quickly becoming a buzzword in technology and business. LONDON, Oct 20 (Reuters) - Facebook Inc (FB.O), under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new name that focuses on the metaverse, the Verge reported on Tuesday.
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