Out of the four emerging industries, the metaverse is perhaps the most unique and more transformative of all. That is because the metaverse seeks to take just about all of our current technologies - VR, gaming, blockchain, social media, e-commerce, internet - and bring them all into a “second universe” where you will create an alternate digital version of yourself. Also known as Web3, the metaverse may be one of the biggest innovations of the early 21st century.

The metaverse is such a new innovation that most people can’t fully agree on how to define it. Perhaps the best way to describe the metaverse - as it currently exists - is that it is a virtual reality that allows for almost limitless social and economic interaction. Because the metaverse is so new, we are unsure of its potential. Right now, there are a number of platforms such as “Decentraland,” “The Sandbox” and Facebook’s “Meta” platform. The one thing that all of these platforms have in common is that you will exist as an avatar and interact with other avatars in an open-world environment.

Important Metaverse Statistics

  • JP Morgan projects that the metaverse will have a value of over $1 trillion

  • The metaverse will create over 10,000 jobs in the next 5 years

  • Disney is working on a metaverse themed park

  • 48% of people surveyed said that would visit the metaverse for live entertainment

  • Facebook parent Meta is investing $10 billion in metaverse projects

Last updated