The Metaverse Economy Project To Grow To USD $42 Billion Till 2026, As Meta Gears Up To Make A VR Experience To Dwarf All Others

According to Strategy Analytics, the global transactions for the Metaverse are projected to cross USD $42 billion in 2026, with Meta looking to go all-in on developing and building the next big AR/VR sensation. While another report from 'Reports and Data' predicts global metaverse market size may cross USD 872.35 Billion in 2028.

The Metaverse is building up to be one of the most hyped social media ventures of all time; mostly since social media projects don’t exactly expend a lot in terms of self-advertisements and interviews. However, even with this in mind, there’s still been a lot of promotion on-going, with much of it focused around just how big the project is in scale and scope. The company formerly known as Facebook, Meta, has been making rounds across literally all platforms both online and in real life, attempting to convey just how grand of an idea the Metaverse is. A grand, online world conveyed through VR, where users can meet each other, explore an over-world, play games together, and have all the experiences that real-life constraints such as money and distance can’t afford to users. Yes, I’m sure this must come off as an incredibly novel idea to anyone that hasn’t heard of VR headsets, or VR chat rooms, or even MMORPGs. However, we’ll put the typical sardonicism that I reserve for Meta aside for now, since it’s not really just the ideas that will make the Metaverse, but the scale to which it will be executed as well.

Meta has recently released a statement that it has dedicated itself to spending over USD$ 10 billion to make the Metaverse come to life, which I’m willing to bet is much, much more than any VR experience has ever been assigned. With so much dough, and an online platform that’s aiming to host millions as opposed to the typical smaller groups that your typical VR experience helps moderate, this new venture is gearing up to be quite the spectacle. Of course, only time will tell whether the spectacle we’re referring to will draw inspiration from the Louvre or the Hindenburg. Such a grand idea, aimed around providing an entertainment experience unlike any other, doesn’t just need good ideas: it needs a solid execution. It’s already testing currently accessible technology, with Intel stating that the Metaverse will require computational efficiency over a thousand times fold from what the average computer offers today.

Pexel / cottonbro
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