What is etaverse? – FESCH.TV

FESCH.TV INFORMIERT:

In 2021, the metaverse market contributes $148.5 billion, and it is projected to grow at a rate of 29.7%, to reach $1,542.9 million revenue in 2030. It is attributed to the growing demand of the metaverse for purchasing digital assets by utilizing cryptocurrencies.

In December 2021, the metaverse industry witnessed the entry of the new world development with the rising construction of virtual land on the blockchain game platform Sandbox. Companies can develop the virtual world through such games and monetize in-game products such as wearables for avatars and digital plots.

The metaverse offers the experience of virtual purchasing with a number of options offered by e-commerce. Such avatars can be used to create a second identity. Numerous Zoom users saw their avatars as a form of self-expression. It also provided opportunities to fashion players in shaping the avatars and thus increased brand loyalty.

The 3D technology enables customers to virtually browse designer handbags. They can try watches as well. Artificial intelligence ensures that such watches snugly fit them. For instance, Alibaba’s Taobao launched Metaverse Mall on the 618 shopping holiday in China in June 2022.

The software category is projected to witness significant growth in the coming years, accounting for the growing popularity of the AR/VR mobile app and studios, cloud-based tools, software development kits, and web app development tools. The recognition of avatar identity producers, play-to-earn games, and centralized and decentralized gateways lead to the growing demand for metaverse platforms.

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