Many projects are picking up in the metaverse trend and the craze is only going to increase, says a new report. According to a recent forecast from Gartner, a research company, by 2026 at least 25 percent of people will spend an hour a day in the metaverse for work, shopping, education, socializing and entertainment.
For businesses, the research company believes that the metaverse will improve their business models as companies shift from digital to the metaverse. “By 2026, 30% of the world’s organizations will have metaverse-ready products and services,” said Marty Resnick, research vice president at Gartner.
“Providers are already creating ways for users to replicate their lives in digital worlds,” Resnick noted, noting that “from attending virtual classrooms to buying digital land and building virtual homes, these activities are currently taking place in separate environments. Eventually, they will take place in a single environment, the metaverse, with multiple destinations across technologies and experiences.”
Metaverse is the next iteration of the Internet where users will be able to build virtual lives, share spaces, transact and collaborate in new ways. Gartner defines the metaverse as: “a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It is persistent, provides enhanced immersive experiences, as well as device agnostic and accessible through any type of device, from tablets to head-mounted displays.”
It should be noted that since no single vendor will own the metaverse, Gartner expects it to have a virtual economy enabled by cryptocurrencies and non-fungible tokens (NFTs).
The report further highlights that the metaverse will affect the way daily work gets done, meaning companies will bring better engagement, collaboration and connection to their employees through immersive virtual office workspaces.
“Companies won’t need to build their own infrastructure to do this because the metaverse will provide the framework. In addition, virtual events that have gained popularity over the past 18 months will offer more collaborative and immersive workshops and networking opportunities,” the company added in its report.