Mark Zuckerberg Predicts A Massive Economy With Huge Spending Around The Metaverse

Meta’s CEO Mark Zuckerberg appears to be more than excited about the Metaverse and now he’s making some major predictions on how he envisions the futuristic digital platform.

Think along the lines of an entity that surrounds a massive economy with huge spending. To be more exact, Zuckerberg revealed how he felt a billion people would be involved and each would be spending hundreds of dollars.

Speaking to Jim Cramer last week from CNBC, Mark Zuckerberg mentioned how the metaverse was definitely huge and wouldn’t be seen as anything less than an integral part of the company’s business model for the next part of the decade.

On average, the target is one billion users but there are definitely high hopes attached for obvious reasons where each user could be spending some major cash on purchases like digital goods, content, other products available through e-commerce, and a number of other things that would be needed to express one’s self.

For instance, it’s totally up to you to be spending on digital avatars or perhaps some virtual decorative pieces for your new home. Perhaps you need more utilities to make your virtual space stand out. As you can see, the possibilities are pretty endless.

But with that does come a major price in the form of declining investment for Meta where investors have literally reduced the firm’s capitalization by 50% for 2022. Zuckerberg is okay with that because as previously stated, his main focus is the Metaverse- a digital and virtual world where users can purchase and sell products for avatars that are allowed to communicate with others.

Original investments in the world of Meta’s VR began in 2014 when it paid billions for its VR headsets. Today, the same CEO says he is very optimistic about his headset that’s worth $300 and is named Quest 2.

And while it might have gone above his expectations, he feels that it will be a while before people start to accept and adopt it into their daily lives. As Zuckerberg reiterated, the Metaverse is going to be much more than just plain text, images, and videos.

Instead, it is going to be a major theme worth people’s while in the next 10 years.

The Meta CEO then spoke to Cramer about how the metaverse is themed to bring people closer together. And you don’t have to be in the same space or even the same country to make a connection like eye contact, which is now possible in a more unique manner.

To help better understand this realistic presence, Meta is working on hardware and software that makes all of this possible. The company is at this point where it is so close to making a vision a reality and it’s all thanks to its grand investments.

“My predictions for the economy of the Metaverse is nothing short of massive”- the Meta CEO revealed.

Currently, Meta’s apps are bringing in 3.65 billion users who use the platform on a monthly basis. And that is a staggering 6% rise from the previous year.

But other than the metaverse, you might be shocked to learn that Meta is spilling out big bucks towards the creation of AI. The answer why is simple. They know that this can help up their game in terms of advertising and making more revenue.

On average, 97% of the firm’s revenue is derived through ads. And Zuckerberg says he wants to shift content that arises from your friends or your group of followers to that coming from AI recommendations. This way, users are getting exposed to the universe’s content and not just a limited genre.

And as you can expect, the same strategy was used by TikTok which helped it reach new heights of success.

Photo: Anthony Quintano / Flickr

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