The Metaverse Presents a Trillion-Dollar Opportunity for the Next Era of Technological Innovations

MARKET_WATCH Overview

The metaverse – currently one of the hottest topics in the field of technological innovations, it is all that Web 3.0 natives are talking about. While it may sound like a recently discovered niche, the metaverse was first coined in Neal Stephenson’s 1992 sci-fi novel; Snow Crash. As of writing, there is little consensus on what the metaverse encompases, but all the existing definitions agree that it is a virtual ecosystem built in parallel to the real world. 


So, why is the metaverse suddenly a buzzword? A recent report by Citibank indicates that virtual worlds could present a $13 trillion opportunity by 2030. That said, the main reason why the metaverse has gained popularity is the idea existing inside computer systems while replicating real world activities such as online shopping, attending digital art exhibitions and hosting global events within a virtual space. 

 

You might be wondering how the idea is different from the likes of Zoom and Google Meets; well, the metaverse concept is more advanced, users are not only able to communicate but also live in digital worlds as 3D animated avatars. For example, Decentraland (one of the leading metaverse platforms), allows interested investors to purchase land parcels where they can develop property or host Decentralized Applications (DApps). 

 

Source : crypto.news/the-metaverse-presents-a-trillion-dollar-opportunity-for-the-next-era-of-technological-innovations/ by Adam Robertson - October 12, 2022

Join our 60k+
tribe of Akters

Have any questions?

We're here to help.

Learn more

About the AKTIO coin

AKTIO is now live!

Learn more about the AKTIO coin

What’s new in the App?

We’re adding new features

Find out more about the App

Customer support

support@akt.io

+353 1 574 7382

Opening hours:

Monday to Friday: 9am - 5pm CET

Company

About

AKTIO coin

Careers

Learn

Blog

News

Glossary

AKT Academy

Help

FAQ

Sitemap

System Status

Follow our latest news

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.