It is observed that the transition to the metaverse, which means “virtual universe”, is accelerating worldwide.
In the metaverse environment, which means “virtual universe”, the municipalities of the world capitals started to build their own cities, and there are even countries that opened embassies. Barbados made history as the first country to open an embassy in the metaverse environment. According to the news in CoinDesk, the country’s Foreign and Foreign Trade Ministry signed a contract with Decentraland, the 3D virtual reality platform for the establishment of the embassy.
But the real big development is happening on the front of private companies. With digitalization, the business world continues to change and evolve. The studies carried out since 2020 on the concept of metaverse, which emerged with the science fiction novel “Snow Crash” published by author Neal Stephenson in 1992, accelerate the transformation. The leading companies of the business world are preparing to do business in the digital world. Thus, while the virtual reality of the literary world, the metaverse, becomes reality after 30 years, investments in the metaverse are also increasing.
According to research on the subject, many sectors from real estate to textiles, from technology to tourism are bringing their business models to the metaverse. The leaders of the business world, who have taken steps to adapt to new working models since the pandemic, are now preparing for the metaverse, which will enable them to meet in virtual reality with companies and people they cannot relate to or meet in physical spaces. It is predicted that the metaverse, which is thought to be an immersive extension of the physical world, combining virtual and augmented reality, will open more applicable and interactive experience areas for businesses.
Earth Web data shows that the virtual universe, which was $ 46 billion in 2020, will reach $ 800 billion by 2024. Some estimates indicate that the metaverse will reach $1 trillion at the end of 3 years. According to Emergen Research, the global metaverse market size was $47.69 billion in 2020.
In 2028, it will exceed $800 billion. It will record an annual revenue growth of 43.3 percent in the 2021-2028 period. Investment firm Grayscale projects the size of the metaverse economy at $1 trillion. According to some estimates, these figures will be exceeded and will increase to 30 trillion dollars. These high estimates are based on companies like Facebook and Apple that have changed their names to Meta, already worth several trillion dollars.
Employees want to move to the metaverse
The increasing interest of employers in the virtual universe causes many question marks among employees. According to research conducted by Lenovo, 44 percent of employees say they want to move to the virtual universe, which will increase their productivity and gain new benefits. 59% of employees state that their employers do not invest enough in IT systems and do not have enough knowledge to transition to the metaverse. 51 percent think the speed with which an employer is adopting new technologies indicates their readiness for new technological realities.
The data disclosed is a source of motivation for businesses that want to increase both their income and productivity. The transition to the virtual universe, which is seen as the new investment area of the future for both the business world and the governments, requires the redesign of the usual applications. It is noted that the virtual universe will create 10 thousand jobs in the next 5 years.
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