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on February 9, 2023
After Facebook rebranded to Meta in October 2021, there has been a tremendous rise in metaverse initiatives. Metaverse is an example of a combinatorial invention since it relies on a number of technologies and trends to work. It is a hybrid of the digital and physical worlds, using modern technologies such as augmented reality (AR), virtual reality (VR), mixed reality (MR), artificial intelligence (AI), and blockchains. It will change the way we connect and sign commercial transactions, as well as have an impact on the internet and our lives. It essentially combines all real-world activities such as gaming, attending concerts, hosting parties, and even owning a piece of property in a virtual setting. Recently, the metaverse has flooded the internet, opening up new avenues of profit and investment for everyone, and they are contemplating how to prepare for this new technology.
More than US $120 billion has been invested in projects related to the metaverse in only the first five months, more than twice the US $57 billion in all of 2021, according to McKinsey's 2022 study.
Experts and business pioneers predict the metaverse will provide more ways to increase income. As an example, J.P. Morgan is the first significant bank to do so. There is a $1 trillion market potential for virtual real estate, according to the company.
The following trends highlight how the metaverse app development will play a crucial role in 2023 and beyond.
Marketing platforms should be revamped
Enhance the working environment
Provide a better education and training experience
Metaverse events are on the rise
In the technological sector, another revolution is taking place: the metaverse
The metaverse has the potential to disrupt the enterprise sector. By offering a more immersive experience, enterprises will be able to create a unique brand image. Although the technology is still in its infancy, it has the potential to transform how people interact with each other online.
Posted in: Technology