- The metaverse is expected to host 25% of people by 2026.
- The metaverse will change the way the world conducts its business.
- The economy for the metaverse will be through digital currency and NFTs.
The metaverse is all set to become the next big thing. With millions of users currently engaged in virtual realities, the trend shows no signs of slowing down. Gartner (NYSE:IT), the Connecticut-based technology research company predicts massive user adoption of the metaverse in the next few years. They believe that 25% of people will spend at least one hour a day in the metaverse by 2026.
The power and scope of the metaverse is being debated everyday. But one thing is for sure, its business implications will be monumental. “Vendors are already building ways for users to replicate their lives in digital worlds,” says Marty Resnick, research vice president at Gartner.
Resnick states that activities such as attending virtual classrooms or buying digital land are taking place on separate platforms today. But it will not be long before they move to the single and unified environment — the metaverse.
The most interesting feature about these new worlds will be the currency by which they operate. Since no single vendor will own the metaverse, the economy for this immersive reality will be enabled through digital currencies and non-fungible tokens (NFTs).
Resnick also says that metaverse will challenge enterprises to expand their business models in unprecedented ways by moving from a digital space to the metaverse. Businesses will no longer need to build their own infrastructure; the metaverse will offer the framework. Employees will be able to better engage, collaborate and connect to each other through deeply immersive workspaces. Gartner’s research points to the inevitable future of living in a virtual reality, despite the current uncertainties regarding the metaverse.