Metaverse Will Change Social Life, New Research Suggests

A new survey conducted by CoinWire reveals that most users believe the metaverse will change their social lives.

In 2022, there is a dichotomy in the cryptocurrency and Web 3.0 space between highly turbulent markets and high expectations for the future. Users and investors continued accumulating funds in this sector, especially in areas focused on the metaverse.

A new CoinWire survey of more than 10,000 cryptocurrency investors conducted in December 2022 revealed that user sentiment towards the metaverse is poised to impact all areas of social life. 69% of respondents think the metaverse will change social life with a new approach to entertainment, while 65% of respondents believe in a new metaverse approach to social activities.

Opinions were also high on how technology will impact finance (61.2%), business (49.6%), and education (45%). In the past five years, tech giant Microsoft has been awarded 158 metaverse-related patents, eclipsing other large tech firms such as Meta, Tencent, and Epic Games.

With the rapid development of the metaverse, we will have a more tangible impact on our social lives. At the Consumer Electronics Show 2023, new metaverse features were revealed, including touch and smell.

The survey also revealed that more than half (53%) of respondents who invest in the metaverse also own some form of cryptocurrency.

The figure below suggests that the United States is at the forefront of metaverse innovation. China and India, however, rank first in positive sentiment toward the everyday use of the metaverse.

The report further revealed that while 9 out of 10 respondents have heard the term Web 3.0, 52% of them are uncertain about what the term actually means. In line with this uncertainty that many investors have, more than 60% of them want to see more regulation applied to the industry. In the past year, regulators around the world have begun to adopt and discuss new rules for Web 3.0 and the blockchain industry in general.

However, Web 3.0 areas such as the metaverse are still high on the priority list for many countries. The South Korean government recently opened its metaverse pilot city to the public.

A recent report from McKinsey predicts that the metaverse will generate $5 trillion in value over the next seven years.

Source: cointelegraph.com

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Jakub Odvářka

Jakub Odvářka

In 2022, there is a dichotomy in the cryptocurrency and Web 3.0 space between highly turbulent markets and high expectations for the future. Users and investors continued accumulating funds in this sector, especially in areas focused on the metaverse.

A new CoinWire survey of more than 10,000 cryptocurrency investors conducted in December 2022 revealed that user sentiment towards the metaverse is poised to impact all areas of social life. 69% of respondents think the metaverse will change social life with a new approach to entertainment, while 65% of respondents believe in a new metaverse approach to social activities.

Opinions were also high on how technology will impact finance (61.2%), business (49.6%), and education (45%). In the past five years, tech giant Microsoft has been awarded 158 metaverse-related patents, eclipsing other large tech firms such as Meta, Tencent, and Epic Games.

With the rapid development of the metaverse, we will have a more tangible impact on our social lives. At the Consumer Electronics Show 2023, new metaverse features were revealed, including touch and smell.

The survey also revealed that more than half (53%) of respondents who invest in the metaverse also own some form of cryptocurrency.

The figure below suggests that the United States is at the forefront of metaverse innovation. China and India, however, rank first in positive sentiment toward the everyday use of the metaverse.

The report further revealed that while 9 out of 10 respondents have heard the term Web 3.0, 52% of them are uncertain about what the term actually means. In line with this uncertainty that many investors have, more than 60% of them want to see more regulation applied to the industry. In the past year, regulators around the world have begun to adopt and discuss new rules for Web 3.0 and the blockchain industry in general.

However, Web 3.0 areas such as the metaverse are still high on the priority list for many countries. The South Korean government recently opened its metaverse pilot city to the public.

A recent report from McKinsey predicts that the metaverse will generate $5 trillion in value over the next seven years.

Source: cointelegraph.com

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