Technology businesses prepare to invest billions of dollars in the metaverse

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In an interview with CNBC last weekend, Nigel Bolton, co-head of equities at the $10 trillion asset management firm, stated that “we believe there are a handful of things happening here, which we believe will actually be very major game-changers in the not too distant future.”

The metaverse is poised for a “gamechanger” year in 2022, according to BlackRock, as major technology businesses prepare to invest billions of dollars in the metaverse. With a number of transformational goods slated to launch in the next months, the year 2022 is shaping up to be a transformative one for the metaverse, according to predictions.

“It is expected that new augmented-reality glasses will be available for purchase by the end of this year or the beginning of next year. That, in our judgment, will represent a significant shift in the way this technology is applied.”

It has not yet been confirmed when exactly Apple’s new augmented-reality glasses will be available for purchase, though.

Virtual worlds where users can participate in numerous activities such as gaming, work, constructing, and viewing virtual events are referred to as the “metaverse” by the term “metaverse.”

According to Meta’s results, the Reality Labs metaverse division of the company, formerly known as Facebook, has suffered huge and growing losses, including $10 billion in just one year in 2021.

According to a prominent analyst, investing in disruptive technologies such as artificial intelligence (AI) and the metaverse is the expertise of a $4 billion corporation.

Even if Microsoft just agreed to purchase video game company Activision for $75 billion, Meta is in the forefront of the march of the Big Tech corporations toward the metaverse. It was regarded as “very interesting” by Tim Cook, the CEO of Apple, back in January.

By the time 5G internet speeds become widely available, it is expected that more people will be utilizing metaverse-like technologies.

“It’s difficult for us to comprehend just how significant this is going to be at this point in time, and who will be the true winners in this,” he said of investing in the metaverse at this point in his career.

“It’s similar to when we first started to use the internet or when smartphones first came out,” Bolton continued, adding that

Many others, on the other hand, are suspicious about the metaverse, feeling that it is nothing more than a repackaging of technology that has been there for many years already. According to Ethan Zuckerman, a professor of communication at the University of Massachusetts Amherst, many people will be uninterested in living their lives in virtual reality, despite the potential benefits. In the case of having meetings with expressionless avatars, for example, it is “the type of thing that only a computer scientist could enjoy.”

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Posted by Alex Vartmann
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