The potential behind the metaverse is becoming greater as virtual and physical worlds converge. Market intelligence firm Contrive Datum Insights recently found that the global metaverse market is estimated to surpass $1.3 trillion by 2030. According to the study, this growth will be driven by newly adopted virtual economy trends, combined with the rise of both crypto and online games.
Additionally, a recent survey conducted by CoinWire highlighted that the metaverse would likely reshape social lifestyles. CoinWire found that 69% of respondents believe that the metaverse will eventually modify social lifestyles due to new approaches taken for entertainment and activities.
AI will make the metaverse more interactive
Cathy Hackl, author of Into the Metaverse: The Essential Guide to the Business Opportunities of the Web3 era, told Cointelegraph that the metaverse comprises virtual shared experiences that happen both in virtual spaces and in the physical world:
“It’s just that the physical world side of the metaverse equation hasn’t been fully enabled. It’ll come in the next 10 years. If you take that into account, then how we socialize will be deeply impacted by the metaverse.”
Hackl elaborated that technologies such as volumetric video — a technique that offers a more immersive experience by capturing three-dimensional spaces — will likely change how individuals communicate. “For example, this may help us feel more present when our loved ones are far away,” she said.
Hackl added that artificial intelligence (AI) would help create more interactive metaverse environments moving forward. Although the concept of AI and the metaverse is relatively new, some examples today demonstrate how this may play out.
For instance, Sebastien Borget, co-founder and chief operating officer of The Sandbox — a popular decentralized virtual world — told Cointelegraph that over 1 million users played games in The Sandbox last year. Borget believes that users of The Sandbox have become familiar with using avatars to showcase their digital identities. He said:
“In The Sandbox, users can connect with their digital identity, make friendships and have real emotions through these experiences. It doesn’t matter the background, age or where users are from. The Sandbox is a global, digital nation.”
With this in mind, Borget is aware that metaverse platforms have the potential to reshape social lifestyles. “Three billion people are now digitally native — there…
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