The metaverse is a concept that covers a broad range of aspects of the internet and can’t be defined itself as a whole. When Facebook rebranded itself to ‘Meta,’ it sparked discussions about the concept of the metaverse and how it should impact the lives of the common internet user.
The metaverse can envision a digital economy, a virtual reality, and a digital world. This single all-around concept remains widely discussed nowadays when we talk about web 3 and emerging technologies.
The fact is that the metaverse industry keeps growing at a very faster pace, with emerging companies strengthening their business units to offer the best of this ‘world.’ For the entertainment, economy, eCommerce, etc, the metaverse is here to stay.
Even mainstream companies like Meta, formerly Facebook, have started to tread waters in such a booming industry. The metaverse and NFT are concepts very compatible with each other and have grown in parallel across the board as well, so there is a potential for an emerging technology like the metaverse to keep gaining momentum.
However, there are also discussions about the regulatory aspect surrounding the metaverse. As we discussed in our recent analysis of NFTs, there are concerns about how criminals and bad actors could rely on the metaverse to commit fraud, money laundering
