Metaverse can change social lifestyle & approach to entertainment: Report

Metaverse continues to make headlines as more and more companies are foraying into this space. Recently, a survey was conducted, and most of the users are of the opinion that the metaverse will transform their day-to-day lives.

By Jasmine Anand:

In a survey conducted by CoinWire, which surveyed over 10,000 investors in the crypto space in December 2022, a majority of the respondents saw this new-age technology feature in their social life and interactions. In other words, 69 percent of the participants were of the view that the metaverse would influence their entertainment choices in everyday life, while 65% of the respondents asserted that the metaverse would restructure their social activities. The participants also opined that chances are high that the metaverse will impact sectors like finance, business, and education.

The survey has hinted that more than half of the respondents who have put their money in the metaverse space, own some or the other form of cryptocurrency.

Which country takes the top spot in metaverse adoption?

The US bagged the first spot for metaverse innovation. However, China and India took the top spots for harboring positive sentiments toward using metaverse in daily life with 78 percent and 75 percent respectively, followed by Peru’s 74 percent, Saudi Arabia’s 71 percent, and Columbia’s 67 percent.

Interestingly, the survey disclosed that though 9 out of 10 respondents have heard of Web3, many still have no clue as to what this term exactly means. Also, several investors were wary about the crypto industry and about two-thirds of the respondents were of the view that more regulations need to be implemented to govern this otherwise risky and volatile space.

It is pointed out that during the pandemic, as people were confined to their homes, many of them experienced loneliness owing to lockdowns and social distancing. Despite the easing of lockdown restrictions, social interaction still remains low. Nonetheless, metaverse interaction promises to be more interactive and immersive than sending texts or looking at pictures.