The question of whether it’s too early to invest in the Metaverse has sparked debates among experts, especially with the recent shift in focus by major companies like Facebook, now Meta, which announced significant investments in the metaverse, reshaping discussions about the future of social media.
A new research study delves into predictions for augmented reality (XR), encompassing virtual reality (AR, MR, and VR), shedding light on anticipated developments up to the year 2040.
More than 500 million users will be on the metaverse
While augmented reality (XR) has been present in the tech world for years, primarily in gaming and social media, it is now taking center stage by leading the way into the metaverse.
However, perspectives among activists, academics, and business leaders on the goals and ethical considerations of the metaverse remain divided.
Recent research conducted by Elon University and Pew Research suggests that by 2040, over half a billion people will be active on metaverse platforms. This assertion, supported by 54 percent of researchers, underscores the potential for wealth creation through metaverse investments.
Despite this optimism, 46 percent of experts reject the idea that the metaverse will become an integral part of daily life in the near future.
Ethical concerns have emerged as a significant focus for these experts, emphasizing the challenges of regulating user behavior in a purely virtual world. These ethical dilemmas have been evident in Meta’s VR game, Horizon Worlds.
Respondents also express concerns that corporate and authoritarian interests could compromise user well-being. There’s a belief that companies might overlook the negative aspects of the metaverse to retain user engagement, potentially giving rise to surveillance capitalism.
The research, revealing a division among expert opinions, underscores the importance of investments in VR/AR headsets for the continued growth of the metaverse until 2040.
Industry leaders, including Meta’s Oculus Quests, are seen as crucial players, and there’s anticipation around potential market entry by major companies such as Apple, which has recently been rumored to be working on a VR headset. What are your thoughts on this matter? Feel free to share your views in the comments section.
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