Imagine believing in a technology so much that you rename your company after it. That’s what Zuckerberg did with Meta. With some predicting the death of this technology, the decision doesn’t look so hot. 

However, a new report from Activate, a tech and media consulting firm, lays out the future of the metaverse, including which companies will benefit and what use cases will succeed. Activate’s study shows why Zuckerberg refuses to give up on his vision, despite more than a year of rising ridicule. Apple is about to enter the space too, with its new mixed reality headset. 

According to Activate’s CEO, Michael J. Wolf, “companies will need to prioritise metaverse strategies, along with investments in AI, consumer engagement, and tech development”. The metaverse is already here in video games and gaming platforms such as Roblox, Minecraft, Fortnite, World of Warcraft, and PubG, Wolf also noted. This is where Meta is still investing heavily, despite cutting back elsewhere. 

What’s really worth noting is that “the path to the Metaverse will be through video games,” he said. “They already have virtual worlds, users at scale, IP, social, sophisticated user creation, economies, etc.”

Here are some other Metaverse statistics and highlights from the Activate report: 

Areas where companies should focus on Metaverse potential are as follows, according to the Activate report;

  • Content experiences and social interactions
    user-facing operations systems comma create a content, virtual worlds, consumer applications 
  • Hardware and devices such as headsets and mobile phones
  • Platforms and enable us such as spatial computing and payment platforms
  • Infrastructure such as 5G and the cloud

Different companies will benefit from metaverse opportunities in different ways from retail, commerce and media to technology, fitness, the public sector and education

Different metaverse platforms will have to work together seamlessly. It seems as if there will not be a single metaverse platform but instead communication between platforms will take place through third-party companies and applications which will create significant opportunities for all businesses to capitalise on the potential of the metaverse.

More than 15 million AR devices will be sold by 2026 meaning that the growth of the metaverse will far exceed the penetration of VR and AR devices. Roblox leads the way with new generative AI features to enhance and simplify the user creation process. other metaverse platforms will soon follow. 

Users will be building their own metaverses and AI-enabled user creation and Agency will be critical to the full development of metaverse platforms. Interestingly, people will expect to create and build themselves. According to the Activate report, 35% of American adults are interested in personalising their metaverse experiences through creation based activities. 

Mark Zuckerberg is most interested in the social aspects of the metaverse. Social experiences and interactions would increasingly take place in metaverse platforms. Community-based interaction in the metaverse will include the ability to engage with real-life friends and meet new people in virtual worlds as well as enhanced activities with live user to user interaction.

Sports and concerts may be experienced through the metaverse too with shared immersive experiences being the foundation for metaverse platforms. Furthermore, Generative AI will turn all users and companies  into developers with the power to create professional level graphics and experiences via plain language text in image inputs also requiring little to no coding skills. 

Metaverse usage is beginning to spread beyond gaming with research showing that the majority of Gamers already participate in non-gaming metaverse activities inside video games. For example 48% of Gamers have participated in watching movies, TV shows and previews through metaverse technology in the past 12 months.

However we cannot stress enough that video games are the bedrock of the metaverse immersing virtual worlds, expansive user bases, social interactions and user agency and creation largely existing inside of video games today and providing the foundation for the metaverse future.

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