Why metaverse piqued interest of corporates

Metaverse, the new buzzword, is likely to make its way into business plans big and small over the next decade. A new report by data analytics firm Global Data has recorded a 40% jump in companies using the word in quarterly filings in the March quarter. The fast-growing corporate interest could soon put us in an exciting alternative world with our favourite virtual avatars, attending music events and fashion shows, or even attending fictitious work meetings. The nascent concept is expected to rise rapidly, with Bloomberg Intelligence pegging revenue potential at $800 billion by 2024 and a report by Gartner projecting that a quarter of the world’s population could spend at least an hour a day on the metaverse by 2026.