Metaverse, the next step in internet evolution and social networking, utilizes real-time 3D technology that combines both the digital and physical realms. The metaverse offers top social media entertainment companies and businesses the chance to generate new revenue streams. It’s the next big technology platform and draws online game developers, social media leaders, as well as other tech professionals to take part in what we expect to be an almost $800 billion market.
The rapidly growing world of virtual reality is rapidly gaining momentum with builders and early adopters. According to a recent research analysis by Cointelegraph, the global trends have been in favor of the NFTs and larger metaverse surpassing the term “crypto”. The growing demand for NFT and metaverse is apparent in the digital world. This can be seen with celebrities and brands diving into these areas. Metaverse storytelling allows celebrities to virtually showcase their talent while providing immersive experiences for their viewers. It also brings together traditional knowledge in the digital world.
Blockchain Solutions with Innovation
In 2021, the Metaverse is attracting a lot more attention as major corporations such as Nike and Facebook plan to set up infrastructure. Move Digital says it has been involved in blockchain projects to create immersive digital realities since before the big companies joined.
Kristof Schöffling, Founder and CEO of Move Digital, stated:
“The Metaverse is a cutting-edge technology that will change the way we interact with the digital world. Our team has dedicated years of experience to master this technology and we’re excited to see it grow. We’re committed to helping businesses harness the power of the Metaverse and we look forward to seeing the growth in our client base.”
It claims that it was involved with projects around the globe using the Metaverse platform. Move Digital asserts that it will have agreements in place in 2022 with blockchain-oriented businesses in Japan and South-East Asia.
Additionally, businesses can use its trademark to create Metaverse environments similar to the real world economy. It offers innovative digital payment solutions, data security, and supply chain solutions that maximize blockchain technology’s potential. Move Digital provides holistic solutions, including the refinement and implementation of blockchain solutions as well as management to make it easier for businesses.
Bloomberg estimates that worldwide Metaverse revenues could exceed $800 Billion in 2024. That’s compared to about $500 billion in 2020. According to the Bloomberg report, gaming revenues could reach $400 billion by 2024. The rest of the market would be made up of live entertainment, social media, and gambling. Move Digital is an advisory company that helps businesses adopt the technology.
Kristof Schöffling is the CEO of Move Digital. Schoffling has over 20 years of experience as a serial entrepreneur, having launched, grown, and sold prominent high-tech businesses across a variety of areas, such as online shopping, gaming and data acquisition. He’s been frequently interviewed by well-known news organizations such as Bloomberg, Forbes, and Yahoo on the latest trends in digital technology.
With the emergence of the metaverse space, the subsidiary of PricewaterhouseCoopers, PwC Hong Kong recently acquired land in the leading virtual world, SandBox.