Why the Metaverse Matters — A Guide for Entrepreneurs and Innovators As the metaverse continues to gain momentum, some revealing statistics offer a roadmap for entrepreneurs and innovators to unlock its potential.
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The metaverse refers to a digital realm where people can connect with each other and digital content across various platforms and devices. It is not a singular product or service but an interconnected network of experiences spanning gaming, social media, entertainment, education, commerce and beyond.
While the concept of the metaverse has existed for decades, recent advancements in technology and changes in consumer behavior have propelled it into the limelight. The potential for engagement and innovation in this digital realm is incredible, as these statistics demonstrate:
By 2026, it's expected that a quarter of the world's population will spend at least an hour in the metaverse each day
Around 60% of gamers have used the metaverse for non-gaming virtual experiences,
52% of individuals have expressed their intention to use the metaverse for work
And 28% of consumers see music concerts as the use case with the highest potential in the metaverse.