Tour the Metaverse
From a niche term limited to hard-core believers, the Metaverse, loosely referring to a variety of virtual world platforms, has now become part of the business world’s vernacular. Companies including Samsung, Miller Lite, and J.P. Morgan have created their own spaces on Metaverse platforms, with others like McDonald’s and Nike making plans to incorporate it into their businesses.
J.P. Morgan wrote in a report that the Metaverse represents a $1 trillion yearly revenue opportunity in the coming years, as individuals buy and sell ever more valuable virtual land, items for their virtual avatars, or physical products from virtual stores. But Goldman Sachs and Morgan Stanley think potential revenues from the emerging sector could be even higher. Goldman said in January that the Metaverse could be more like an $8 trillion opportunity.
There are two main camps when it comes to what the Metaverse should be: Centralized or Decentralized. It’s still unclear which one, if any, will prevail or whether they both will.
Want to learn more about what activities both camps are doing in creating a new Metaverse world?