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The Internet’s future is virtual worlds that allow humans to communicate and interact outside of the constraints of physical boundaries.
We are in the age of the metaverse. According to analyst estimates, these virtual worlds might be the next great investment opportunity.
While the metaverse is evolving, technology is poised to change everything from e-commerce to social media, even real estate.
As the audiences for these virtual worlds expand, so do the demands from companies looking to capitalize on this trend. Facebook, for instance, has changed its name to “Meta” (FB) and is planning to invest billions in its quest to create its metaverse world.
Major tech companies, including Facebook, Microsoft, and Google, have invested billions of dollars in virtual reality technology in the last few years.
Microsoft is the latest business to enter the metaverse. It joins the ranks of other major-name companies and brands venturing into the digital space.
Microsoft’s CEO, who spoke at Microsoft’s Ignite conference on Tuesday, said;
” We’re going to invest across the entire tech stack. The demand will come in different forms for different categories, but we feel very well-positioned to be able to catch what I think is essentially the next wave of the internet.
Just like the first wave of the internet allowed everybody to build a website, I think the next wave of the internet will be a more open world where people can build their own metaverse worlds, whether they’re organizations game developers or anyone else “
Other businesses are putting their flagship in the metaverse and trying to figure out how to earn money on the next digital frontier.
In December, at the close of the year, Walmart filed various trademarks informing it plans to create and sell virtual electronic toys, electronics, sporting goods, and personal care products.
This week, Ralph Lauren’s CEO declared that the virtual world is a way to draw younger buyers. Nike, Gap Gap, and Urban Outfitters are just a few other businesses that have aspired to put a flag in the virtual space.
Frank Shaw, corporate vice for Microsoft’s communications, said Microsoft said; The digital age has been at the forefront of all industries over the last few years and is more important than ever before, Shaw wrote. The metaverse is a “persistent, digital world that is connected to many aspects of the physical world, including people, places and things,” Shaw wrote.
Furthermore, “The metaverse enables shared experiences between the digital and physical worlds. As companies are accelerating their digital transformation and the metaverse is able to aid people in meeting in a digital setting to make meetings more relaxed through the use of avatars and enable creative collaboration across the globe,” Shaw said.
Microsoft’s $68.7 billion purchase of the video game company Activision is the company’s largest acquisition to date.
By Abraham Aroloye
