#Metaverse Market Size

[harshtechsworld]

The Metaverse Market is a rapidly growing industry that is poised to revolutionize the way we interact with technology and the digital world. The Metaverse is a concept that refers to a shared, persistent, and immersive virtual environment where users can engage in a wide range of activities, from gaming and social interactions to commerce and entertainment.

[laxmandige05]

In the rapidly growing field of global metaverse market size was valued at USD 94.8 billion in 2023 and is projected to reach USD 2,183.36 billion by 2032, growing at a CAGR of 41.7% from 2023 to 2032 according to a new report by Nova One Advisor.

[luckydige45]

In the rapidly growing field of global metaverse market size was valued at USD 94.8 billion in 2023 and is projected to reach USD 2,183.36 billion by 2032, growing at a CAGR of 41.7% from 2023 to 2032 according to a new report by Nova One Advisor.

[harshitasoni]

Climbing to New Heights: A Comprehensive Analysis of the Global Printer Market

In this report we will understand how metaverse market share changes.The Metaverse Real Estate Service market is expanding quickly due to the rising ownership of virtual properties and a growing user base, leading to increased demand for services related to property management, leasing, and brokerage.

[techinsight360]

SK Telecom expands global metaverse presence through strategic alliances with telecom operators

The metaverse ecosystem has grown leaps and bounds in South Korea over the last 12 months. The growing investment from government institutions, coupled with innovative projects undertaken by private organizations, has driven the competitive landscape in the South Korean metaverse industry. Naver and SK Telecom, two of the leading private players in the metaverse market in South Korea, have reported strong growth in monthly active users in the domestic market.

To replicate their success in the global metaverse industry, both of these firms have been expanding their geographical presence through strategic alliances. In September 2022, Naver announced that the firm had partnered with True Corp., one of the leading telecommunication service providers, as part of its strategy to expand its metaverse presence in Thailand. A similar strategy has been adopted by SK Telecom, which owns the metaverse platform ifland.

In March 2023, SK Telecom announced that the firm had entered into strategic alliances with telecom operators in the United States, Europe, and Southeast Asia. Notably, the firm signed the memorandum of understanding with T-Mobile and Deutsche Telekom in the United States and Germany, respectively. These strategic alliances aim to explore the opportunities for expanding the presence of ifland into the United States and German markets.

As part of the collaborations, the three firms are projected to conduct trial runs in the two countries in Q2 2023. This will include launching a more diverse set of metaverse services, producing content tailored to local preferences, and promoting the metaverse offerings in the region.

Read More - Healthcare providers foresee growth opportunities in the metaverse sector in 2023

Alongside the United States and European markets, the South Korean metaverse giant is also aiming to drive the popularity of its metaverse platform ifland in the Southeast Asian region, the region where Naver has already built a presence through a strategic partnership with True Corp.

In March 2023, SK Telecom announced that the firm had partnered with CelcomDigi, the Malaysian telecom operator. The partnership is aimed at increasing the number of ifland users in Malaysia. Furthermore, the collaboration will also see the launch of new business initiatives, including products that cater to the demand of domestic users in Malaysia.  

Through the collaboration with Axiata, SK Telecom is seeking to expand its presence in 11 more countries in the ASEAN and Southeast Asian regions. These include countries such as Indonesia, Sri Lanka, Cambodia, Nepal, and Bangladesh. Through the partnership with Axiata, SK Telecom is expected to develop metaverse-related business models.

With each of these three telecom giants, T-Mobile, Deutsche Telekom, and Axiata, having over 100 million customers, the collaboration will provide SK Telecom with a strong foundation to expand in the respective markets. Furthermore, these strategic collaborations will also aid the growth of the global metaverse industry, which is still in its early stages of development.

From the short to medium-term perspective, TechInsight360 expects more such strategic collaborations in the metaverse market. With SK Telecom building a strong presence in North America, Europe, and Southeast Asia, TechInsight360 also expects Naver to adopt the same strategy and forge strategic alliances to boost the presence of its metaverse platform Zepeto globally.

Read More - Roblox metaverse ecosystem shows strong user adoption in a boost for the global metaverse sector

ifland and Zepeto, both of which are seeking to build a strong presence in the United States market, is bad news for Meta, which has largely struggled to get its metaverse project up and running. The United States-based firm had invested billions of dollars in the metaverse project and also reported a loss of more than US$13 billion in 2022. Over the next 12 months, the firm had already announced that it is anticipating the losses to grow even more, as continues to make the bet on the future of the internet.

Horizon Worlds, the metaverse platform, launched by Meta had failed to achieve its projected user adoption in 2022. Down from the initial projection of ending the 2022 year with a total of 500,000 users, Horizon Worlds ended the year with only 200,000 users.

In an attempt to boost the adoption of its metaverse platform, Meta announced that the firm is revamping its product to attract and target teens in the United States. The strategic move comes at a time when the firm is facing a serious user retention problem. Notably, both Naver and SK Telecom have achieved widespread success with their metaverse platform among Gen Z users.

Read More - Meta’s metaverse dreams have been outpaced by internet giants in South Korea

With the expansion of Naver and SK Telecom in the United States, coupled with the change in strategy by Meta that is now focusing on teens, the competitive landscape in the North American market is projected to grow substantially over the next few quarters. The presence of South Korean metaverse giant, SK Telecom, will also result in a substantial increase in investment in the United States market in 2023, thereby accelerating further innovation in the fast-emerging sector.

Alongside metaverse, SK Telecom has also announced to increase its investment in the field of artificial intelligence. Furthermore, the firm is also seeking potential acquisition opportunities to build on its existing AI capabilities. Notably, the firm is expected to launch the first of its AI product later in 2023. With the success of ChatGPT, the AI-powered chatbot, many firms have announced a significant investment in the area of artificial intelligence. From Microsoft to Amazon and Tencent, AI is expected to become the next focus area for most technological firms.

[letsvishu]

Metaverse in Education Market Insights: Opportunities and Challenges Ahead

 Education has significantly changed human society and shaped the entire world. Modern online learning platforms and virtual reality simulations have replaced more conventional teaching techniques, including spoken explanations and whiteboard drawings over time. The COVID-19 epidemic accelerated the adoption of virtual learning, which has increased interest in using metaverse technology to deliver education.

[automotivetransportationresearch]

Metaverse Market for Automotive: Forecast and Growth Trends by 2030

The global Metaverse Market for Automotive is projected to grow from USD 1.9 Billion in 2022 to USD 16.5 Billion by 2030, at a CAGR of 31.4%. Factors such as rising use NFTs in the virtual space, inexpensive and convenient manufacturing and testing of vehicles in the virtual space will boost the demand for the metaverse market in automotive. The Metaverse Market for Automotive is dominated by…

[futuretonext]

The Global Metaverse in Gaming Market is projected to grow at a CAGR of around 41.2% during the forecast period, i.e., 2023-28. The market is driven by the expanding implementation of metaverse in different technologies facilitating the adoption of games and related gadgets. In addition, the rising popularity of AR and VR, leading to consumers adopting related devices combined with the trend of owning virtual assets like land and NFTs, has encouraged gamers to play and indulge in metaverse games, fueling the market expansion.

[marketreports-blog]

The global metaverse in healthcare market size was estimated at USD 9.6 billion in 2022 and is expected to surpass around USD 131.23 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 29.89% during the forecast period 2023 to 2032.

[luckydige45]

According to the latest research by nova one advisor the global metaverse in healthcare market size was exhibited at USD 12.47 billion in 2023 and is projected to hit around USD 131.23 billion by 2032, growing at a CAGR of 29.89 % during the forecast period 2023 to 2032.

[harshitasoni]

US Metaverse Market Outlook to 2028

The Metaverse Real Estate Service market is experiencing rapid growth thanks to increasing virtual property ownership and user numbers, fueling demand for property management, leasing, and brokerage services.

[techinsight360]

Innovation in metaverse expected to intensify in 2023 with increased investment

The investment in the metaverse sector, which has been led by Meta, has resulted in investors asking questions about the potential future of the metaverse industry. While adoption of the technology, termed as the future of the internet, has remained below expectations in 2022, tech firms have continued to invest billions of dollars into the development of new projects and metaverse-related infrastructure. Although Meta might not have anything substantial just yet to prove to investors that the metaverse is indeed the future of the internet, other smaller firms have continued to launch innovative metaverse platforms.

Read More - Meta continues to push its way into the metaverse world with mergers and acquisitions

MeetKai, one of the metaverse-focused firms, has launched several products over the last few quarters to help developers in building components of the virtual worlds. At the 2023 Consumer Electronics Show, the firm launched more innovative platforms that are geared toward users and creators of the metaverse. Notably, the firm launched MeetKai Reality, a 3D-digitizing service, that brings various objects and spaces from the real world into the metaverse.

The platform will allow developers and creators to record a video and then upload the footage to MeetKai Reality. The service then renders the captured space in virtual reality. While there are already platforms, such as Matterport, Coohom, and Zillow, which render spaces from photos, the MeetKai Reality service is the first that is specifically tailored for the metaverse use cases. PayNXT360 expects the MeetKai Reality service launched by the firm to further drive innovation in the real estate, interior design, engineering, and architecture fields.

Read More - Zepeto accelerates global expansion plan to compete with big tech giants in the metaverse sector

Along with MeetKai Reality, the firm also launched another product at the 2023 Consumer Electronics Show. The MeetKai Metaverse Editor, a bit more differentiating product compared to MeetKai Reality, allows users and developers without coding experience to build spaces and structures in the metaverse. Of course, there are tools such as Tripolygon that allow developers to build metaverse spaces, but they are not no-code applications such as MeetKai Metaverse Editor.

The firm is also launching MeetKai Cloud AI, the service that will allow developers to integrate voice assistants into an existing metaverse environment. According to the firm, the voice assistants will take the form of avatars that will be conversing on any given topic in the metaverse. Furthermore, these avatars will have reasoning capabilities when interacting with the end users.

Along with MeetKai, a number of different firms announced various innovative initiatives and projects in the metaverse sector at the 2023 Consumer Electronics Show. LG Electronics, for instance, announced a plethora of metaverse-related initiatives at the 2023 Consumer Electronics Show. The firm has increased its investment to bring the metaverse to smart TVs. Integration of the metaverse with smart TVs can potentially drive mass popularity and adoption of the virtual worlds among consumers globally.

Read More - Brands are using metaverse as a marketing tool for reaching and educating prospective customers

Like smart TVs, firms such as Sony are also seeking to drive the mass adoption of the metaverse by bringing the virtual world to customers through their smartphone devices. The firm had launched a sensor-based product, which when attached to the human body, allows consumers to experience their movements in the metaverse through their smartphone devices. In 2023, TechInsight360 expects these firms to further increase their investment in the space and launch innovative products and services, thereby supporting the growth of the market from the short to medium-term perspective.

[mimwashere]

25 Cryptocurrency Terms You Need to Know

25 Cryptocurrency Terms You Need to Know

Content Bitcoin NFTs Coin How cryptocurrency works This term is a good one to know because market participants with the ability to execute very large transactions can potentially manipulate the market—or “make waves in the ocean.” Newcomers are frequently described as “noobs” by industry insiders. While simply buying digital currency is one example of taking a long position, there are other methods available. FXCM is a leading provider of online foreign exchange trading, CFD trading and related services. Cryptocurrencies continue to grow, with new currencies cropping up all the time, and are here to stay. Their rising popularity is driven by the proven reliability of the top cryptocurrencies, Bitcoin and Ethereum. BitIRA facilitates the purchase of Digital Currency, nothing more, and charges a fee for the service it provides . No fiduciary relationship, broker dealer relationship, principal agent relationship or other special relationship exists between BitIRA and its customers. In the Bitcoin network, the difficulty of mining adjusts every 2016 blocks. FinTech Magazine focuses on fintech news, key fintech interviews, fintech videos, along with an ever-expanding range of focused fintech white papers and webinars. But there are thousands of them, each having different value and supply limits. The Metaverse is a virtual space where users are able to interact with each other in a computer generated environment. The right, but not the obligation, to buy a security or cryptocurrency at a given price within a given time frame. When components of a distributed computer system – such as a blockchain – may fail and there is imperfect information as to whether a component has failed or not. The name given to a significant volume of Bids at a specific price that creates the impression of a wall on the Depth Chart for a given cryptocurrency. Connect buyers with sellers to exchange cryptocurrency, charging a few for their service. A unit of measurement used to compare the sizes of different blockchain transactions. Weight measurements are relative to the maximum size of a block. As of 2016, each weight unit for Bitcoin represents 1 / 4,000,000 of a block. The reward given to a Miner for successfully mining a block, containing a subsidy and fees for transactions contained within the block. For Bitcoin the subsidy halves every four year and is currently set at 6.25 BTC. Bitcoin NFTs These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes by Business Insider found the practice to be an “open secret among many cryptocurrency traders.” “Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value,” Saddington says. In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a … Leggi tutto

https://online-wine-shop.com/25-cryptocurrency-terms-you-need-to-know/

[sandyzakk]

How to use real estate in the Metaverse

The Metaverse is a virtual world beyond the real world, in which it is possible to interact with others, buy and sell goods, etc. In recent years, such a metaverse has come to be used in real estate transactions.

This article provides an overview of the Metaverse and details how it is used in real estate transactions.

What is the concept of the Metaverse?

The Metaverse is a new concept that has been attracting attention in recent years that allows you to experience a world that you have never experienced before. In October 2021, the world’s leading IT company “Facebook” will change its company name to “meta” and is attracting attention so much that it will shift its main business from SNS to Metaverse.

Another point worth noting is the rapid expansion of the metaverse market. Even in Japan, the size of the Metaverse market is growing remarkably. According to a report released by Mitsubishi Research Institute in November 2022, the domestic metaverse market is expected to grow to approximately 4 trillion yen in 2025 and approximately 24 trillion yen in 2030. increase.

Metaverse overview

The Metaverse is simply a virtual world that does not exist in the real world. Metaverse is written in English as ``metaverse’’, ``meta’’ means ``over’’ in Japanese, and ``verse’’ is taken from ``universe’’, which means the world. From this etymology, the metaverse can be interpreted as “beyond the real world”.

You can experience the world of the Metaverse on your computer, smartphone, game console, etc. For example, the virtual world that can be experienced in games such as “Atsume Animal Crossing” and “Fort Knight” is also a kind of metaverse. In these games, you can experience simulated interactions with other people that differ from the real world.

There is a word “VR” that is related to the Metaverse, but they are similar but different. Specifically, Metaverse refers to the virtual space itself, while VR refers to “tools for experiencing the virtual world” such as goggles.

What can you do in the Metaverse world?

In the Metaverse world, you can specifically do the following:

Communication: You can communicate with other users by chat or voice, and you can interact with them in a more realistic way by using avatars. It is used not only for hobby communication, but also for practical purposes such as business meetings.

Games: Metaverse technology is also used in games. Currently, VR devices such as “PSVR” and “MetaQuest2” are coming out, and you can enjoy games with more reality.

Urban development: By applying Metaverse technology to urban development, more realistic urban planning is possible. There are actually virtual cities such as “Virtual Shibuya” and “Virtual Osaka”.

Buying and Selling Things: You can buy and sell things by bringing digital assets into the Metaverse world. Currently, the digital art “NFT” is increasing in value, and there are many cases where it is bought and sold in the Metaverse world.

Features of the Metaverse

In the past, it was possible to create an avatar and move it around a two-dimensional world to do things like the above. However, there is a big difference from the metaverse. The features unique to Metaverse are as follows.

[Features of Metaverse]

Overwhelming reality and immersion

Communicate with multiple users

A world that is permanent, not temporary

Ownership of things in the virtual world is clear

In other words, the progress of Metaverse technology has made the virtual space overwhelmingly more realistic than before. It may be easy to understand if you think of the image of another world existing in parallel with the real world.

In particular, the clarification of ownership of things in the virtual world has greatly contributed to the development of the Metaverse. The reason why the ownership of things in the virtual world has become clear is that it has become possible to distinguish between copies and originals of things like data that can be easily duplicated.

In other words, only the original will have value, so the value is guaranteed. As a result, real estate transactions on the Metaverse have become possible in urban development.

How the Metaverse works

As a reason for the development of the Metaverse, he cited the clarification of ownership of things in the virtual world. As a result, the ability to buy and sell goods in the Metaverse world is the mechanism that establishes the Metaverse.

NFTs are often bought and sold in the Metaverse. NFTs are digital assets whose value is secured by utilizing blockchain technology, such as digital art and in-game items. Blockchain refers to a mechanism that makes falsification extremely difficult and allows multiple people to hold the same data in a distributed manner.

With these technologies, the value of digital assets has been secured, so you can buy and sell things with confidence even in the virtual world.

Real Estate Transactions in the Metaverse

So far, I have explained that the Metaverse is a virtual space, but there are various types of Metaverses. The main types of metaverses are:

Event type: Not only for idols and celebrities, but also for company product introductions and recruitment activities.

Game system: You can experience the world of famous games as it is in the Metaverse

Creator type: Freely create your favorite space and items, and enjoy it with others

The metaverse is also increasingly being used for real estate transactions. However, please note that not all Metaverses allow real estate transactions.

How to buy Metaverse real estate

Examples of metaverses that allow real estate transactions are:

The sandbox

Decentralized

Cryptovoxels

Dream Space

The above four Metaverses are also called “Metaverse BIG4”.

Virtual currency is required to purchase real estate on the Metaverse. Virtual currency refers to property value that can be used on the Internet.

The procedure for purchasing real estate in Metaverse is as follows.

If you do not have a virtual currency account, open one (an account of a famous company such as Coincheck is acceptable)

Create a Metamask (like a wallet or vault for storing cryptocurrencies and land)

Send virtual currency purchased using a virtual currency account to Metamask

Create a metaverse platform account

Find and buy properties in the Metaverse

What you can do with Metaverse real estate

By acquiring real estate on the Metaverse, you can:

buying and selling

rent

Store operation

Holding an event

Let’s take a closer look at each.

Buying and selling real estate

Metaverse real estate trading is done using virtual currency, so you have to prepare virtual currency first.

In the world of the Metaverse, you can make a profit by buying real estate at a low price and selling it at a high price. These are exactly the same as real-world real estate transactions. Therefore, if you are familiar with real estate transactions in the real world, you will have no problem trading on the Metaverse.

An example of real estate trading in the Metaverse is the Canadian IT company TerraZero. TerraZero provided Metaverse Mortgages, a mortgage loan for those who purchase virtual real estate in the Metaverse.

Real Estate Rental

The method of renting real estate on the metaverse is the same as real world real estate. In other words, you search for tenants in the real estate you own on the metaverse. By leasing real estate on the Metaverse, there is no need to set up a physical store, which can lead to significant cost reductions.

Summary

Metaverse is a virtual space and service that provides an experience close to the real world. It has also come to be used in real estate transactions, and its market scale is expanding rapidly. If you get into the Metaverse real estate deal now, you may be able to capitalize on this tremendous bandwagon.