Dear Readers,
The technology and the growth of the decentralised blockchains and the spheres is achieved is wonderful to watch.
The blockchain technology improves payment system efficiency, minimizes operating costs, and offers transparency.
The investments for various projects in blockchain technology is increased by various countries and it is quite interesting to understand the developments through the projects.
The growth dimensions of Non Fungible Tokens (NFTs), Metaverse, Web 3.0 are the exciting features that we enjoy. The potential to earn by using these technologies are being tried by various people across the globe.
Consider the next version of the internet- the metaverse is dominating all aspects.
Many companies are adopting the approach of transformation into metaverse.
In a recent report by the well known firm McKinsey said that the value of the metaverse could reach 5 trillion dollars. This boosts the entire sector to adopt to the latest technology of the metaverse and give the users an unique and exciting experience through the internet.
The report captured that the Global Google searches for “metaverse” skyrocketed by 7,200 percent last year.
The metaverse online gaming platform Roblox were hit over 55 million daily active users in February 2022.
The Metaverse Investments by giants
Meta committed more than $10 billion to its Reality Labs division, which makes metaverse-related hardware such as VR goggles.
Microsoft said its planned $69 billion acquisition of gaming company Activision Blizzard would provide building blocks for the metaverse.
It also predicts that 50% of the live events would be held through metaverse platform by 2030.
This opens the new business models for all the brands.
Though the initiatives varies across the industries, the metaverse would create impact on all value chains of the sector.
Not only with the investments, Metaverse offers to give various employment opportunities for the professionals in its all layers which is a good news.
This is not only exciting but to adopt to the newest technologies and the transformation by everyone is the need of the hour!
I encourage all to download the full report of the McKinsey and have a thorough read!
