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Metaverse on Facebook: the next Internet or simply a marketing gimmick?
Therefore, the data provider Bloomberg Intelligence sees the Metaverse as having the potential to be a very significant market for gaming software, advertising, hardware, and entertainment.
Therefore, the data provider Bloomberg Intelligence sees the Metaverse as having the potential to be a very significant market for gaming software, advertising, hardware, and entertainment.
Mark Zuckerberg believes that a meta corporation's virtual parallel reality holds the key to the future. Experts question if enough users will be willing to put up with continually wearing heavy equipment on their faces.
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The issues are ultimately quite genuine. After allegations of sexual harassment in the Facebook group Meta's virtual reality apps, the business has now instituted a minimum distance of 1.2 meters. The virtual reality (VR) avatars, or digital representations, must not get any closer.
Mark Zuckerberg, the CEO of Facebook, rebranded his business Meta last year. He views the Metaverse as the Internet's future, a bridge connecting the physical and virtual worlds where users may interact, play, study, communicate, shop, and work. In order to do this, Meta hopes to hire 10,000 new workers in Europe alone over the subsequent five years. The organization already has around the same number of developers working on the Metaverse.
Observers are uncertain as to whether this announcement marks the beginning of the next phase of the Internet or if it is simply a massive hype, as was the case with "Second Life" over two decades ago. There were avatars of individuals roaming around in this virtual environment as well. However, the event was soon forgotten.
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What is actually behind Meta's pathetic boycott threat?
Many people already struggled to cover their mouths and noses with thin fabric face masks in order to avert catastrophic diseases. How probable is it that they frequently cover their eyes with a bulky piece of hard equipment to make internet business meetings a bit less dull?
In actuality, the VR glasses are the entrance to the Metaverse, but thus yet, very few people have really utilized them. It makes up less than 5% of the population in Germany. However, a representative study conducted by the online group Bitkom reveals that there is a lot of interest. A majority of non-users—50%—plan to wear such glasses in the future or at the very least, they can envision doing so. Games are presently the major use for VR equipment.
A Facebook ban in Europe? The organization no longer want to observe a parallel threat from the parent corporation Meta.
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Zuckerberg needs Europe to realize his "Metaverse" vision.
But spectacles that don't resemble their clumsy ancestors much are probably going to hit the market shortly. This might signal the Metaverse's breakthrough and lead to a similar iPhone moment to what the Apple smartphone achieved over 15 years ago.
Therefore, the data provider Bloomberg Intelligence sees the Metaverse as having the potential to be a sizable market for gaming software, advertising, hardware, and entertainment, with potential sales of approximately 800 billion dollars globally by 2024.
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A lot of money is already being moved in a number of virtual worlds, mainly through the selling of virtual property. Due of its proximity to US musician Snoop Dogg, $450,000 was recently paid for a plot of property on the Sandbox platform. Gucci, a well-known luxury company, also declared that it had purchased a property there. Even at the end of November, the cryptocurrency investment company Tokens.com spent $2.4 million for a plot of property on the Decantraland platform. The Caribbean nation of Barbados and this platform have come to terms for the creation of the first virtual reality embassy.
In addition to Meta, several businesses that are interested in participating have already set themselves up for the Metaverse's future. Microsoft, Nvidia, Sony, Intel, Alphabet, and Qualcomm are a few examples. Disney's streaming service just joined the fray. According to Disney CEO Bob Chapek, the aim is to link the real world with the digital one. "In my opinion, Disney+ will serve as the Metaverse's platform."
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