In 2021 the metaverse and virtual reality were the talk of the town. What are the predictions for 2023 after a challenging 2022?
Hype For The Metaverse Leads To A Bull Run Into 2021, As Do Major Tokens decenterland ,Mind) and sandbox (Sand) pumping by almost 100X. The enthusiasm among enthusiasts was at its peak when Facebook rebrand Only in Meta in October 2021.
have studied Estimate The size of the metaverse market will be between $500 million and $1 trillion by 2030. How will the market develop in 2023?
The pillar of the Web3 ecosystem is decentralization. So it would be ironic for a single metaverse to have a monopoly on the market.
Think of it like different social media platforms, be it Instagram, Snapchat, YouTube or TikTok. Each of these platforms provides users with unique use cases. Similarly, multiple metaverses can co-exist, serving particular utilities. For example, one platform offering an extreme shopping experience, another exclusively for gaming activities. Similarly, various platforms can serve utilities for corporate or classroom activities. The potential for multiple metaverses to co-exist is huge.
Platforms can provide interoperability for users to transfer their assets from one platform to another through bridges. If a person buys a hoodie from a metaverse that offers both offline delivery and hoodie NFTs for an online avatar, they may want to wear that hoodie on a different platform than the one they attend a university lecture for example.
business building on the metaverse
The Metaverse has attracted the attention of major brands and businesses this year. By November, the firms filed 5,364 US Trademark Application to the Metaverse and related services.
technology has lured luxury watchmakers such as Rolex and footwear brands such as Nike, Adidas and Reebok.
Virtual worlds may soon give car lovers a thrilling ride. bmw Has applied for Metaverse to trademark its logo. Recently, licensed trademark attorney Mike Kondoudis tweeted that Mercedes has filed a trademark application for NFTs, the Metaverse, and related services.