In 2022 the popularity of the metaverse increased considerably, with announcements from big tech companies reigniting debate about the future of cyberspace. Facebook CEO Mark Zuckerburg fuelled speculation in October 2021, announcing his new vision for the company and officially changing its name to ‘Meta’ – recognising a shift in focus to the metaverse.
Since then, Epic Games and LEGO Group have entered into a long-term partnership with the aim of shaping the future of the metaverse, and Nike has announced that almost 7 million shoppers have visited its metaverse store. Meanwhile, Microsoft unveiled plans to acquire Activision Blizzard in a deal worth $68.7 million. You can learn more about the metaverse and its potential by viewing the embedded PDF.
What Is the Metaverse?
Roman Semiokhin is a business leader with considerable experience of the gaming and tech industries. Supporting several ventures at the forefront of innovative AR and VR advancements, Mr Semiokhin concedes that action must be taken to prevent harassment, exploitation and cyberbullying in the digital universe to enable the metaverse to live up to its vast potential. The embedded infographic provides more information about the problem of cyberbullying today, outlining new UK legislation designed to tackle the issue.
Experts predict that businesses will use the metaverse for a variety of different purposes. Although the metaverse’s impact on the gaming and entertainment industry is likely to be significant, the metaverse is actually about much more than games, gigs and virtual meetings.
Tech titans operating in a multitude of different industries are ploughing colossal investment into the metaverse, which experts predict will transform numerous different aspects of people’s daily lives, revolutionising a diverse range of industries – from manufacturing to healthcare to film production – and helping businesses all over the world to prosper.
Essentially a network of interactive and immersive virtual worlds that incorporate components of AR, VR and cryptocurrencies, users traverse the metaverse as an avatar, socialising with others and playing games, attending events, and buying and selling items. The metaverse is a digital universe that in many ways bears a close resemblance to the physical world, incorporating digital offerings like virtual schools, workplaces, museums, conferences and casinos.
Still in its nascent stages, with tech businesses and multinational corporations clamouring to capitalise on its potential, the metaverse offers vast opportunities for developing a virtual economy.
Presenting a world of potential, the metaverse presents scope for people to exist online without the constraints and limitations of financial circumstances, real-life hierarchies, physical appearance and other social constructs. The embedded video explores the different ways that businesses operating in the gaming industry could leverage the metaverse to expand, reach and – ultimately – increase sales.
