Metaverse Explained: What you need to know - Part 1 of the Metaverse series
nikhilvarshney.substack.com
What is this fuss about Metaverse? Microsoft spent $68B in net cash to buy Activision citing reasons to support their metaverse campaign, Meta platform (formerly FB) is spending $14B a year on Reality labs for the next 7-8 years. Per the WSJ article, analysts estimate people are currently spending around $80B in virtual world avatars via video games. Analysts estimates revenue to be earned from metaverse by 2028 will be around $1T. The current market stands at $47B in revenue mainly from gaming and crypto and it is expected to grow around 44% CAGR. This reflects a growing belief for these companies that the emerging virtual realm will unlock serious real-world dollars. (I am writing about metaverse in multiple parts, this is the introduction and its history, you can skip to part II directly if you understand what metavsere is. Part II is on the technological requirements. Part III is still work in progress and is on the costs and ROI related to metaverse)
Metaverse Explained: What you need to know - Part 1 of the Metaverse series
Metaverse Explained: What you need to know …
Metaverse Explained: What you need to know - Part 1 of the Metaverse series
What is this fuss about Metaverse? Microsoft spent $68B in net cash to buy Activision citing reasons to support their metaverse campaign, Meta platform (formerly FB) is spending $14B a year on Reality labs for the next 7-8 years. Per the WSJ article, analysts estimate people are currently spending around $80B in virtual world avatars via video games. Analysts estimates revenue to be earned from metaverse by 2028 will be around $1T. The current market stands at $47B in revenue mainly from gaming and crypto and it is expected to grow around 44% CAGR. This reflects a growing belief for these companies that the emerging virtual realm will unlock serious real-world dollars. (I am writing about metaverse in multiple parts, this is the introduction and its history, you can skip to part II directly if you understand what metavsere is. Part II is on the technological requirements. Part III is still work in progress and is on the costs and ROI related to metaverse)