Not so long ago, Gartner, a famous company dealing with tech advice and industry research, said that the Metaverse belonged to the circle of ‘the top 5’ new sectors capable of totally transforming the world we live in. In this piece, we will describe this phenomenon and a number of ongoing trends. Our team will also tell you about the advantages of the Evercode White Label for your ambitious Metaverse-related initiatives.
Metaverse: The Essence
The Metaverse is obviously a buzzword nowadays. Among other things, in 2021, this word was featured on the TOP-10 list of trendy words, with such other words as ‘NFT’ and ‘crypto.’ As it seems, since then the concept has gained even more popularity.
But what is behind it, in practical terms?
As the Deloitte experts put it, the Metaverse can be defined as ‘the Internet, but in 3D.’ As simple as that. Joking apart, as the Metaverse is still in its formative years, no one can offer an all-embracing and precise definition. What is clear is that it is a domain of digitized interactions ‘where connected virtual experiences’ either simulate the real world around us, or even extend beyond it.
In more practical terms, the Metaverse is a ‘shared environment’ accessed by end-users via the Internet. As such, it encompasses social media, VR and AR, NFTs and crypto assets, as well as gaming.
Metaverse: What Is the Buzz?
How big is that slice? While the crypto market, together with web3 in general, is experiencing difficult times, until recently the projections concerning the Metaverse have been more than impressive.
According to Bloomberg, the expectations were as follows in December 2021:
- Back in 2020, the revenue opportunity generated by the Metaverse was approximately $500 billion in 2020
- In 2024, this revenue potential was expected to reach roughly $800 billion
- As for the projected market breakdown, it was expected to be evenly divided into two parts: ‘online game makers and gaming hardware’ with $400 billion on the one hand and ‘live entertainment and social media’ making up the remainder
Let’s checkout some key facts about the users of various Metaverse components, as of now:
- NFTs are now used by 412,578 adopters
- Blockchain Gaming has as many as 2.3 million users
- Global Cryptocurrency accounts for 220 million users
- Finally, e-Gaming and eSports have already won 250 million fans
It means that the world is already ripe for your metaverse projects, as it offers sufficient audiences for self-sufficient businesses! People are ready to spend their money on Metaverse property and artefacts, big money!
Think of it! Currently, the typical virtual land sale value there is roughly 2000 bucks, while the highest-record setting sale is an unimaginable $2.4 million!
If you agree with our optimism and need a reliable crypto wallet for your metaverse plans, check out our White Label Crypto Wallet. We offer:
- NFT functionality
- Over 500 tokens on 6 blockchain networks and the most popular cryptocurrencies
- We can integrate your tokens as well
- Up to 50 000 exchange pairs
Explore the business limits of the Metaverse with us!