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Many people, including some misguided members of the popular press, thought that 2022 would be the breakthrough year for the metaverse. This was mainly based on the hype which was created by the rebranding of Facebook and it’s related brands as “Meta” in the Fall of 2021, and the subsequent release of Horizon Worlds, Meta’s digital universe. We now the media loves bad news, and it has reveled in the abject failure of Mark Zuckerberg’s vision of the metaverse so far. Whilst all this has brought a lot of awareness to the metaverse, there’s a regrettable misperception that Meta’s future will dictate the success or failure of the metaverse elsewhere.
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Meta’s huge global audience will ultimately guarantee the success of their project. However, the metaverse has been and will continue to be driven by other factors, which I believe make it’s future adoption and ascendency inevitable…
INDUSTRY IS DRIVING THE METAVERSE Various industries have already embraced what this new technology can deliver, from unique marketing experiences to many more advanced innovations. Based on end-use, the global market is segmented into gaming, media & entertainment, education, travel and tourism, real estate, healthcare, hospitality, retail, banking, financial services, insurance and others.