High-value growth and investment for rapidly expanding sectors.
Digital worlds are a hot topic and a hot commodity. From the $500,000 a buyer paid for the first digital house to the $91.8 million that almost 30,000 people collectively paid for an NFT of a digital artwork called The Merge, it’s evident that the world sees the value of the virtual environments and spaces we are creating.
Perhaps its because we’re chasing the novelty, or it could be the desire to get ahead of the finite number of unique things in the physical world or big spenders might be motivated to invest in the digital realm because they appreciate being part of a pioneering movement - no matter how you look at it, the virtual or digital world is big business.
Markets worth billions
According to Gartner, 25% of people will spend an hour a day in the metaverse by 2026. There is incredible potential for this developing virtual environment but, because it’s still taking shape, analysts have offered up varying ideas of its worth. Estimates range from $800 billion in total value to $13 trillion in revenue potential.
Factors such as growth in e-commerce along with greater investment in cryptocurrency is adding to the positive sentiment around the prospects for the metaverse. Investors are also keen to get a foothold in an emerging market to hopefully replicate the financial success of tech companies such as Meta, Google, Microsoft and Apple which have boasted strong stock performance over a number of years.
Research conducted by Insight Partners also projects that the 3D mapping and modelling market could be worth $12.13 billion globally by 2028, driven by “the rising demand for 3D animation, continuous technological advancements in 3D mapping and modelling tools…”
Twinbru shares this belief that there is a rising demand for digital visualisation, specifically 3D modelling and rendering as these visualisations have a variety of uses in the interior design, architecture, furniture design, gaming and entertainment industries. It’s why our fabric digital twins are setting the standard for digital fabrics and they are available on the world’s leading 3D design platforms.
Money in the metaverse
As the metaverse is intended to be an extension of our physical world experience, transactions will be easy and normal. Offering experiences that are convenient but also very realistic and sensational will engage metaverse users to bring more of their personal, work and social lives into the virtual space.
The belief that this future will come to be is evident in the investment already taking place. Virtual or metaverse property is growing rapidly and a prime example is a buyer who paid $450,000 for virtual property in a metaverse that makes them legendary rapper Snoop Dogg’s digital neighbour. What some investors are also doing is purchasing virtual land in the metaverse with the goal of either developing the virtual property for resale or working towards becoming landlords when the metaverse has its boom.
Prices of virtual plots of land are skyrocketing but so are the stock prices of companies working to develop the metaverse and make accessing these virtual worlds much easier.
Return on investment
Interest from individuals and venture capitalists is supporting the growth of investment in the wide variety of companies participating in all areas of metaverse development, but what happens when governments get involved?
In a surprising announcement, South Korea was the first country to declare its intention to support the metaverse industry. The Ministry of Science and Information and Communication Technologies plans to pour $177.1 million into companies and job creation focused on the metaverse. The government believes in the potential of the new realm of innovation and also plans to support its growth and stability with the establishment of bodies to oversee issues such as intellectual property protection and unlawful behaviour in a world where jurisdictions have to be determined.
This type of support and confidence from a national authority bolsters investor confidence. It’s also an indication to get familiar with various companies and elements that will make the metaverse possible.
If you’re looking for a great return on investment right now, look no further than fabric digital twins. Used in design visualisations, digital catalogues or in game development, they can help create realistic environments that can boost client confidence and purchases almost immediately. Adoption of this type of technology also guarantees digital readiness when the metaverse welcomes businesses and makes customer engagement and payments quick and easy.
So, if you’re looking for an opportunity to prosper, you’ve got the chance right now to get a competitive edge with technology that is exciting, innovative and turning the imagined into reality.