In figures … Web3 tops virtual reality and technology companies generate billions of users

Virtual reality has become an inevitable reality. Once technological development reached Web 3, through Web 1.0 and 2.0, Web 3.0 leads the world of virtual reality, generating billions of profits for tech giant companies as facts happen in the virtual world and profits are made in the real world. It’s really weird. But how do you run Web 3 metavers? Who are the beneficiary companies? How much is the expected profit? Answering these questions, publish the page Investors Next article.

When you get home from work, log on to your favorite website, check out your avatar – a VR version of yourself – and head through Metaverse to Snoop Dogg’s residence where he will host a live party. In fact, you and your character are watching the singer perform through his avatar (avatar), and you are in a world Web3 In a virtual version of his palace. But some of your best friends are there even in virtual form.

After a party Dog Snoopyou can choose some sneakers for your avatar from the store Nike Virtual and pay using cryptocurrency. But why spend money on an avatar? Because you want your virtual self to be fashionable and for some it’s worth the money.

It’s just one of many scenarios Sandbox, the creator of 3D virtual reality worlds where users can buy a plot of digital real estate, build a house or even open a casino. They can explore digital art creations and visit new exotic worlds. There are countless other “Metaverse” companies such as Sandbox. All this was made possible thanks to the so-called Web3, which some see as the future frontier technology. The initial idea of ​​eWeb3 Eight years ago, it was still in the early stages of development.

While entertainment plays a major role in the development of Web3Not all is fun and games, as it powers a range of business applications that include Metaverse companies.

Then begins the transition from “metaverse” to the physical world. When the evening is over, your avatar can show up at a local restaurant and order a quick meal to take home on your own. But do not worry, the food is real.

photos of the billion dollar economy

Definitions vary Web3However, it is generally seen as a path to the third generation of the internet. Metaverse, protected by the owner of Meta, will also take root there, establishing the management of the company in Metaverse. Analysts expect to see investment in Web3 ANDmetaverse With tens of billions of dollars, they believe it can become a billion dollar economy.

Alan Cook, who oversees virtual reality and augmented reality consultancy at Deloitte “Every 10 to 15 years, we have a change in the way we use technology. We are going through another now and we have just started.”

An idea was introduced Web3 In 2014 by Gavin WoodCo-founder of cryptocurrency Ethereum named Web 3.0and later shortened to Web3.

Wood believes that the current generation of the internet, known as Web 2.0overly controlled by big tech companies like Apple ANDAmazon ANDTweet. He thought they collect large amounts of personal data about consumers, which is used for profiling, enabling targeted advertising and making money, and consumer privacy violations and censorship also raise concerns.

Using the latest technology

to work Web3 metaverse As you can imagine, it requires the use of blockchain Immutable cryptocurrencies and tokens, NFTswill depend Web3 Also with a large percentage in network expansion 5G Wireless, extreme computing and cloud storage to deliver data as close and fast as possible to the user. When augmented and virtual reality tools are added to the mix of technologies, they provide users with a Metaverse portal.

According to Gartner analyst Avivah Litan,Investor Business DailyWe are moving fast towards the future and innovations will happen Web3 The Internet is moving into new areas and will lead to applications that were not possible before. ”

Corporate incubation for Web3 ANDMetaverse

Metaverse is still in the early stages of development and usage cases and applications continue to evolve, as evidenced by the growing number of global companies entering Metaverse, including: Walmart (WMT) ANDDisney (DIS) ANDNike (NKE) ANDAdidas (ADDDF) ANDSamsung ANDMcDonald’s (MCD). Fashion icons like Louis Vuitton (LVMHF), Burberry (Burby) and Gucci.

Metaverse can penetrate into any sector

JP Morgan said in its report that Metaverse is likely to penetrate every sector in some way in the coming years, with a market opportunity estimated at more than $ 1 trillion in annual revenue, and “if big players technology such as Microsoft Planning to create realistic workspaces, Ariana Grande’s mother hosts a concert FortniteThe possibilities offered by interactive digital worlds seem limitless.

The bank declared,HSBC“, The second largest bank in Europe, which in March will buy land Sandbox. He plans to “develop, share and connect with fans of sports, esports and games”. Earth contains a virtual reality sports field.

According to Suresh Balaji, head of marketing at HSBC for the Asia-Pacific region, in the written notes announcing the plan: “We see great potential for creating new experiences through emerging platforms, opening up a world of opportunities for our current and future clients.”

OPPORTUNITIES Web3 potential in trillions

In an interview with Goldman Sachsanalyst Eric Sheridan estimated that global investment in Web3 “Metaverse” technology could easily exceed $ 100 billion and lead to a digital economy that could reach $ 8 trillion. “We look at the digital economy today, which represents about 20 to 25 percent of the global economy, and we see that it continues to grow. Furthermore, we see a virtual economy that will grow within and alongside this digital economy. , “added Sheridan.

One report estimated that Metaverse would become a $ 13 trillion market with more than 5 billion users. The report was confirmed CitiMetaverse could be the next generation of the Internet, which combines the physical and digital worlds in a continuous and immersive way, not just a virtual world.

say Citi Also, construction metaverse ANDWeb3 Requires the improvement of computational efficiency more than 1000 times above today’s level.

Beneficiary technology companies

Analysts believe that companies that benefit from moving to Web3 metaverseINCLUDING Meta ANDApple ANDGoogle ANDSnap (SNAP) ANDQualcomm (QCOM) Except Roblox (RBLX) ANDNvidia. While companies like Roblox ANDMeta In video games, fun and casual dating formetaverseaiming Nvidia Business applications.

Read also: Investors do not trust “Metaverse” … and “Meta” depends on “Tik Tok” policies.

Leave a Comment