‘Metaverse technology is still immature, but in 30 years, everyone will use it’

Crypto.news spoke with David Shrier, the author of the book ‘Basic Metaverse,’ about the future of the virtual world.

The global metaverse market could potentially reach a revenue of $1,237 billion by 2030, as projected by recent reports. However, intricate security and privacy concerns may slow down the market’s growth.

Crypto.news discussed these and other concerns with David Shrier, a futurist, author, and entrepreneur, at Websummit in Lisbon. In his book ‘Basic Metaverse: How Virtual Worlds Will Change Our Reality and What You Can Do to Unlock Their Potential’, Shrier delves into the future of this emerging technology and its potential impact on our daily lives.

During our conversation, we explored the metaverse challenges, and the possibility of a future where interacting with the virtual world via contact lenses or even brain implants may become a reality sooner than you may think.

Crypto.news: Your book, ‘Basic Metaverse,’ was published this year when many say the “metaverse hype is dead” and the NFT market is down. Do you believe the metaverse has potential?

David Shrier: “Metaverse is dead” is a catchy headline that does not reflect the economic reality of a vibrant industry. In 2022, the metaverse generated more than $66 billion in revenue.

The first misconception that I often have to explain to people is that the metaverse is not Meta, the company that Mark Zuckerberg runs, which grabbed the name and is making lots of noise around it. That is one tiny slice of the metaverse market. Augmented reality and three-dimensional browser-based metaverse like Roblox and Minecraft, these companies are doing fine.

No matter what you may read about Mark Zuckerberg and his losses in virtual reality, the metaverse encompasses a much wider set of ways of interacting with technology, and the market is tens of billions of dollars U.S. in revenue and is doing fine.

The NFT market has gone through a healthy correction. It’s the Gartner hype

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Author: Lena Bozhkova

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