Mark Zuckerberg predicted, “To become a pioneer in the virtual world, he predicted that 5 billion people will enter the metaverse by 2030.
And as Zuckerberg, the 37-year-old owner of Meta (formerly Facebook), is the main tech expert driving the mega idea, he could find himself driving about 5 billion users into the new virtual world.
According to a recent report published by the British “The Sun”, the metaverse is a growing digital space filled with virtual and augmented reality, where we can one day find ourselves working, socializing and playing without moving from our places in real reality, and we have seen Already many real world things, including restaurants, casinos and even the metaverse fashion week.
Billionaire Zuckerberg is betting his company’s future on the metaverse but is keen to make it a collaborative venture, calling it the “embodied internet.” Experts not only expect people to flock to the platform, but that it will be a multibillion-dollar part of the global economy.
According to Citi, the value of investments in the industry could reach $8 trillion (£6.1 trillion) to $13 trillion (£9.9 trillion) in eight years, but it would need massive investment to get to this point.
“We believe the metaverse may be the next generation of the Internet – which brings together the physical and digital world in a continuous and immersive way – rather than a purely virtual world,” the report says.
He continued, “The Metaverse could result in a very large ecosystem that can be accessed across an unlimited number of devices from PCs, game consoles and smartphones.”
Experts also warn that the metaverse will “attract significant scrutiny from global regulators and policymakers,” citing content moderation, free speech, and privacy as some of the big concerns, also emphasizing that money in the metaverse can exist in many different forms. This ranges from in-game tokens, stablecoins to central bank digital currencies (CBDC).
Additionally, digital assets and NFTs in the metaverse will enable sovereign ownership of users/owners, be tradable, immutable and mostly interoperable, according to experts.