December 28, 2022

Top 4 Expectations for Metaverse in 2023

Metaverse Real Estate

The metaverse is supposed to be the future of the digital world in which people will interact with each other via their avatars. Scientists expect that the metaverse would be the next big thing, a matter which encouraged more companies and brands to join the virtual world. 

In light of its increasing potential and multi-purposes, experts gave the top four expectations for the metaverse in 2023, according to Coingape.

1- More businesses to be built on the metaverse 

Pioneering brands and firms became more interested in entering the virtual world to attract new generations of consumers. In 2022, the United States Patent and Trademark Office (USPTO) received more than 5,364 trademark applications for metaverse-related services. 

The metaverse is predicted to change aspects of the business, including how work is done, how products are displayed, and what products would be shown. More products and events will be held in the metaverse. 

2- Enhancing The Role of Metaverse Police

In terms of the growing number of people, who are interested in using the metaverse, the need for cybercrime units is inevitable. The new metaverse users could be prey for cybercriminals, a matter which could happen because more personal data are being given to digital reality. 

Therefore, in October, INTERPOL announced the launching of the first-ever police body in the metaverse designed for law enforcement in the virtual world.

However, a report by Kaspersky warned that the metaverse could be likely the next target for cybercriminals in 2023 due to the lack of data protection and regulation in the virtual world.

3- Creating Multiple Metaverses

The best thing is that there is no one metaverse that controls the market. Tech companies and brands are competing to launch their own version of their metaverses with various immersive features, a matter which encourages users to benefit from different metaverses whether in commercial or educational ways. 

4- Wide Expansion 

The metaverse market will expand without limits. According to Meta, the metaverse believed that it would contribute more than $3 trillion to the global GDP by 2031. Also, McKinsey & Company raised the expectations to $5 trillion by 2030. The metaverse will be the future of e-commerce in addition to revolutionizing the worlds of online learning, advertising, and gaming

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.