In numbers … Web3 leads virtual reality and technology companies generate billions of users

Virtual reality has become an inevitable reality. After technological development reached Web 3, through Web 1.0 and 2.0, Web 3.0 led the world of virtual reality, generating billions in profits for giant technology companies, as the facts take place in the virtual world, and profits are made in the real world. It’s really weird. But how does Web 3 lead to metaverse? Who are the beneficiary companies? How much is the expected profit? Answer these questions, publish the website Investors Next article.

When you get home from work, log on to your favorite website, control your avatar – a VR version of yourself – and storm through Metaverse to Snoop Dogg’s mansion where he’s about to go live. party. In fact, you and your character watch the singer perform through his avatar (avatar), and you are in a world Web3 In a virtual version of his palace. But some of your best friends are also there in virtual form.

After a party sniffing dogYou can choose some sneakers for your avatar from the store Nike Virtual and paid using cryptocurrency. But why spend money on an avatar? Because you want your virtual self to be trendy, and for some it’s worth the money.

This is just one of many scenarios in Sandbox, the creator of 3D virtual reality worlds where users can buy a piece of digital property, build a house or even open a casino. They can explore digital art creations and visit exotic new worlds. There are numerous other “Metaverse” companies such as Sandbox. All this was made possible thanks to the so-called Web3, which some consider to be the next frontier technology. The initial idea of. was offeredWeb3 Eight years ago, it was still in the early stages of development.

While entertainment plays a major role in the development of Web3Not everything is fun and games, as it drives a number of business use applications involving the Metaverse companies.

Then begins the transition from the “metaverse” to the physical world. When the evening is over, your avatar can show up at a local restaurant and order a fast food to take home yourself. But do not worry, the food is genuine.

billion dollar economy photos

Definitions differ Web3However, it is generally seen as a route to the third generation of the internet. This is also where Metaverse will take root, defended by the owner of Meta, and will determine the direction of the company in Metaverse. Analysts expect to see investments Web3 Andmetaverse With ten billion dollars, they believe it could become a billion dollar economy.

Alan Cook, who oversees virtual reality and augmented reality consulting at Deloitte “Every 10 to 15 years we have a shift in how we use technology. We’re going through another one now and we’re just getting started.”

An idea was presented Web3 In 2014 by Gavin WoodCryptocurrency co-founder Ethereum It was called Web 3.0and later abbreviated to Web3.

Wood believes that the current generation of the Internet, known as Web 2.0is excessively controlled by large technology companies such as appeal AndAmazon AndTwitter. He felt that they were collecting large amounts of personal data about consumers, which was used for profiling, to enable targeted advertising and monetization, and violations of consumer privacy and censorship also raised concerns.

Use the latest technology

to work Web3 metaverse As much as possible, it requires the use of blockchain Cryptocurrencies and non-swinging tokens, NFT’swill depend Web3 Also with a large percentage on the expansion of networks 5G Wireless, peripherals and cloud storage to deliver data as close and as fast as possible to the user. When augmented and virtual reality tools are added to the mix of technology, it provides users with a portal to Metaverse.

According to Gartner analyst Avivah Litan,Investing Business DailyWe are moving quickly into the future, and innovations will take place Web3 The Internet is moving to new areas and will lead to applications that were not possible before. ”

Corporate incubation for Web3 AndMetaverse

Metaverse is still in the early stages of development, and use cases and applications continue to evolve, as evidenced by the growing number of global companies entering Metaverse, including: Walmart (WMT) AndDisney (DIS) AndNike (NKE) AndAdidas (ADDDF) AndSamsung AndMcDonald’s (MCD). Fashion icons like Louis Vuitton (LVMHF), Burberry (Burby) and Gucci.

Metaverse can penetrate every sector

JP Morgan said in his report that Metaverse is likely to infiltrate every sector in some way in the coming years, with a market opportunity estimated at more than $ 1 trillion in annual revenue, and “or major technology players such as Microsoft Ariana Grande’s mother plans to create realistic workspaces, giving a concert at FortniteThe opportunities offered by interactive digital worlds seem limitless.

Bank declares,HSBC“, the second largest bank in Europe, which will buy land in March Sandbox. It plans to “develop, share and connect fans of sports, e-sports and games”. The piece of land contains a virtual reality sports field.

According to Suresh Balaji, Head of Marketing at HSBC for the Asia-Pacific region, in written notes announcing the plan: “We see great potential for creating new experiences through emerging platforms, opening up a world of opportunities for our current and future customers.”

opportunity Web3 potential a trillion

In an interview with Goldman Sachsanalyst Eric Sheridan estimates that global investment in Web3 The “Metaverse” technology can easily exceed $ 100 billion and lead to a digital economy that can reach $ 8 trillion. “Today we look at the digital economy, which represents about 20 to 25 percent of the global economy, and we see it continue to grow. Furthermore, we see a virtual economy that will grow within and alongside this digital economy,” Sheridan added.

One report estimated that Metaverse would become a $ 13 trillion market with more than 5 billion users. Report confirmed CitiMetaverse can be the next generation of the internet, combining the physical and digital worlds in a continuous and immersive way, not a purely virtual world.

Say Citi Also built metaverse AndWeb3 It requires the improvement of computational efficiency more than 1,000 times above today’s level.

Beneficiary technology companies

Analysts believe that companies benefiting from the move to Web3 metaverseInclude Meta Andappeal AndGoogle AndSnap (SNAP) AndQualcomm (QCOM) In addition to Roblox (RBLX) AndNvidia. While companies like Roblox AndMeta On video games, entertainment and casual events formetaversetarget Nvidia Business applications.

Also read: Investors do not trust “Metaverse” … and “Meta” depends on “Tik Tok” policies

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