Facebook recently rebranded itself into Meta, showing its commitment to making the metaverse a big part of its business strategy. But the likes of Microsoft, Alphabet, Roblox and NVIDIA have also invested heavily into VR. The metaverse economy offers the potential of a wide range of revenue streams, with some estimates predicting it could become an $800 billion-dollar market in just two years and that it could contribute $3 trillion dollars to the global economy in the next decade.
\nIt\u2019s not all fun and games in the metaverse. The vast world of virtual reality can also offer companies opportunities to find solutions online to apply to the real world. And these solutions are what consulting firm PwC is hoping to create through its newest tech lab in the Middle East in Doha. The idea of the metaverse with PwC is to understand that we look at it as an evolution and not a revolution. So, kind of with the metaverse that\u2019s the approach we\u2019re taking. We\u2019re very agile with it.
\nBy harnessing robotics, artificial intelligence, virtual reality, and more, PwCs tech experts are increasingly finding innovative ways to transcend the physical world without losing the human connection. It means little can\u2019t be done today in the metaverse, for example business meetings, large-scale collaborations, key presentations, and media interviews. Clients have moved way beyond looking at just coming in and providing advice or providing Powerpoint decks, and all of those sorts of things. They want to see things put into action, and emerging tech is really important around that.
\nHuge amounts of money are being poured into the metaverse, an alternative world where you can work, play and meet people without ever leaving your home. But, will the rise of this vast virtual space blur the lines of reality and redefine the way we consume and communicate forever? The Metaverse – right now, it\u2019s all anyone can talk about, whether it\u2019s online or offline. It may seem like a recent buzzword, but the idea has actually been around since 1992, first appearing in a sci-fi novel.
\nIt\u2019s hard to define exactly what the metaverse means, as the technology behind it is evolving to include many aspects of virtual reality. Put simply, it\u2019s an all-encompassing digital world that exists in parallel to the real world. The company Somnium Space was one of the earliest open source metaverse platforms on the market. When you are in virtual reality like I am right now, I\u2019m fully connected to the environment. I am here mentally and let\u2019s say physical mentally, right? Because my brain, my eyes, everything I see, I believe that I\u2019m inside the space. Somnium Space may have been one of the pioneer metaverse platforms, but it\u2019s seen many rivals joining the race in recent times.
\nAs the popularity of virtual reality grows, so do the concerns over its impact on human interaction, social isolation and mental health. Children are spending more time online. And while they can have a lot of fun in the metaverse, the lack of clear rules could also make it a dangerous place. So how can VR platforms address these issues? Tami Bhaumik is the Vice President of Civility and Partnerships at Roblox, a global platform with more than 40 million daily users. Roblox is committed to regulating its VR platforms and providing young users and their caregivers with the skills they need to play in a safe way.<\/p>\n","protected":false},"excerpt":{"rendered":"
Facebook recently rebranded itself into Meta, showing its commitment to making the metaverse a big part of its business strategy. But the likes of Microsoft, Alphabet, Roblox and NVIDIA have also invested heavily into VR. The metaverse economy offers the potential of a wide range of revenue streams, with some estimates predicting it could become […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[10202],"class_list":{"0":"post-278114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-editorial","7":"tag-virtual-economy"},"yoast_head":"\n