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Web3 By The Numbers: Key Metaverse, Crypto And NFT Stats Every Marketer Should Know – The Drum

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August 1, 2022 | 6 min read
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The world of web3 is constantly evolving. Here are some key numbers, taken from our weekly ‘Inside the Metaverse’ newsletter, to give you a sense of where the emergent technology is now – and where it’s heading.
89.4 million Americans are expected to use virtual reality (VR) in 2022, according to eMarketer. That number, according to the same source, is expected to climb to 110.3 million in 2025
51% of gen Z and 48% of millennials envision doing some of their work in the metaverse in the next two years, according to Microsoft’s Work Trend Index 2022
The next great technological revolution is right around the corner / Adobe Stock
38% of respondents said they would “try extreme sports like skydiving, bungee jumping, or paragliding” in the metaverse according to a recent Statista survey called ‘What things would you do in the metaverse but never in real life?’ Unsettlingly, 18% of respondents said they would “conduct unethical experiments on virtual humans”
87% of Americans between the ages of 13-56 would be interested in engaging with a virtual experience in the metaverse “that is built around a celebrity they love,” according to new research from UTA and Vox Media
$678bn is forecasted to be the total market valuation of the metaverse by 2030, per Grand View Research. According to the report, that market value was just shy of $39bn in 2021, giving it a predicted compounded annual growth rate over a 10-year period of around 39%
46% of all people across age groups say that the ability to visualize a virtual product in an IRL context – “such as seeing a digital painting in their home using augmented reality (AR) glasses” – is the primary factor that would motivate them to make a purchase in the metaverse, per a Productsup survey
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24% of US adult internet users say “that lower-priced VR headsets were a very important factor when deciding whether to try using the metaverse,” per a recent Statista survey. On the other hand, 54% say that their workplace using the metaverse would “not [be] important at all” in their decision to give the metaverse a try
15% of gen Zs’ “fun budget” is spent in the metaverse, per a report from Razorfish and Vice Media Group. In five years that number is projected to climb to 20%
Nearly 77% believe that the metaverse “can cause serious harm to modern society,” per a recent survey from customer service platform Tidio. The survey, which received feedback from 1,000 participants, identified three major causes of anxiety related to the metaverse and its potentially negative social impacts: “addiction to a simulated reality” was the number one concern, followed by “privacy issues” and “mental health issues,” which were tied for second
By 2026, about 2 billion people worldwide “will spend at least one hour a day in the metaverse to work, shop, attend school, socialize or consume entertainment,” per McCann Worldgroup. By that same year, the total value of the virtual goods market in the metaverse could be as high as $200bn
Over $37bn has been spent in NFT marketplaces as of May 2022, per data from Chainalysis. At their current rate, this year’s NFT sales could potentially surpass last year’s, which had a total valuation of around $40bn, according to the data
$91.8m was the sale price of ‘The Merge,’ the most valuable NFT to date. Created by the artist Pak, it sold for its record-breaking value in December 2021
64% of sports fans are open to the idea of learning more about NFTs and would consider purchasing one in the future, according to the National Research Group. The report also found that 46% of sports fans “would be more likely to attend live sporting events if they were rewarded with a commemorative NFT – for example, if their ticket turned into a digital collectible after the game”
Only 9% of people aged 16-44 own a NFT, and less than half (44%) have purchased or invested in crypto, per a new survey from agency SCS. On the other hand, among the survey’s 600 respondents, 64% were “aware” of the metaverse, and 65% of that subgroup say they are “interested in exploring it further for everything from traveling to new places and playing games to making money and shopping”
54% of respondents believe it is very important that more brands accept cryptocurrency as a form of payment, despite the recent crash in the crypto market, according to a recent survey from Klaviyo
$69,044. That’s currently the record-high value of Bitcoin, which the cryptocurrency achieved in November 2021, according to Forbes. As of March of this year, the value of Bitcoin – the world’s most popular cryptocurrency – has been plummeting rapidly. It currently stands at a little over $21,000, per data from Statista
64% of ad spend in the cryptocurrency space for Q1 in 2022 took place in February, with around $54m being spent on Super Bowl ads, according to MediaRadar. Crypto ad spend dropped precipitously in March to around $20m and again in April to around $10m, per MediaRadar
For more, sign up for The Drum’s Inside the Metaverse weekly newsletter here.
© Carnyx Group Ltd 2022 | The Drum is a Registered Trademark and property of Carnyx Group Limited. All rights reserved.

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Utherverse CEO Brian Shuster Granted Seven New Patents for … – Business Wire

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Internet pioneer now boasts more than 100 tech and internet-enabling patents
NEW YORK–(BUSINESS WIRE)–Brian Shuster, founder and CEO of Utherverse, one of the largest metaverse platforms in the world, has been granted seven new patents for technologies designed to enhance the metaverse experience. The new technologies will begin to be deployed in the metaverse’s next generation platform, due to launch by mid-2023.

The new patents add to Utherverse’s already formidable mountain of intellectual property, addressing a variety of problems and vulnerabilities within metaverse platforms, ranging from the physics of movement and immersive displays to physical interaction between users and animation control.
“For more than two decades we have been working to enhance users’ experiences on the internet,” said Shuster. “These new patents span the three key metaverse pillars of software, hardware and remote touch; solve some inherent and significant problems with the operation of metaverse platforms; and greatly improve the ability of users to exist and thrive in hyper-realistic virtual worlds. They will provide developers with the capability to continually innovate.”
Shuster is now an inventor of more than 100 patents for internet enabling technologies. The abstracts of the seven new patents read in part:
Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetize their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices. The Utherverse platform was launched in 2005 by internet visionary Brian Shuster. A beta version of the next generation Utherverse platform is expected to launch by mid-2023. To date, the platform has served 50 million+ users with 32 billion+ virtual commerce transactions. Utherverse has developed the technology and received more than 40 patents critical toward operating large-scale metaverses. The company is based in British Columbia, Canada. More information can be found online at Utherverse.io; Twitter/Instagram: @Utherverse; Facebook: /UtherverseDigital; LinkedIn: /utherverse-digital-inc/; Telegram: /UtherverseAnnouncements; Discord: /Utherverse.io.
Steve Honig
The Honig Company, LLC
818-986-4300
press@honigllc.com
Steve Honig
The Honig Company, LLC
818-986-4300
press@honigllc.com

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Meta is desperately trying to make the metaverse happen – MIT Technology Review

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Will web access and avatar legs be enough?
The star of Tuesday’s Meta Connect, the so-called “state of the union” for the company formerly known as Facebook, was Meta Quest Pro. Meta’s newest virtual-reality headset clocks in at a whopping $1,499.99. That’s a significant price jump from its previous iteration, Meta Quest 2, which could be yours for $399.99—not exactly cheap, but still in triple-digit territory.
That price hike, coupled with Meta’s insistence throughout the virtual event that the company envisioned the metaverse as a “next-generation social platform” accessible to everyone, sort of feels like a blatant contradiction. Even if you are among the lucky few who can shell out a grand and a half for a virtual-reality headset, would you really want to?
That’s the question Meta seems to be grappling with. While the headset price jumped, nearly all the company’s other big moves are aimed at a common and simple baseline: making the metaverse something people actually want to use. 
Meta’s metaverse hasn’t exactly had a smooth year. Less than a year ago, founder Mark Zuckerberg rebranded what was then Facebook in an effort to show that the company was pivoting to what he believed was the future of our digital lives. Since then, Meta has been saddled with hiccups and gaffes, including a much-ballyhooed avatar of Zuckerberg that got memed to oblivion, a report suggesting that the company’s employees were less than enthused about the metaverse, and allegations of virtual sexual assault.
A woman was sexually harassed on Meta’s VR social media platform. She’s not the first—and won’t be the last.
So its current strategy seems to be to release a string of updates to see what might get people interested—a “throw spaghetti at the wall and see what sticks” approach, if you will. 
Besides the Meta Quest Pro, the company also announced at the event that it was going to open up Horizon Worlds, the social media platform within Meta’s metaverse, to mobile and desktop users, so people without a headset will be able to access the virtual world.
That’s a notable step: it’s a tacit admission that VR headsets aren’t taking off as quickly as the company would like. Without a critical mass of people who understand what the metaverse feels like or even is, Meta can’t hope to have its products adopted. Opening its virtual worlds to the formats consumers are comfortable with (their text messages, their browsers, the company’s beleaguered Instagram platform) gives people who aren’t open to shelling out $399.99—much less $1,499.99—a way to experience the new world.
What’s also made the metaverse a hard sell is the disorienting experience of being a floating, legless torso, and Meta announced that it won’t be that way anymore. Previously, Andrew Bosworth, Meta’s CTO, said in an Instagram AMA that full-body avatars were difficult to implement, particularly because VR tracking usually comes from someone’s real-life eyes and hands. “Tracking your own legs accurately is super hard and basically not workable just from a physics standpoint with existing headsets,” he said in February.
But Zuckerberg (or, rather, his leggy avatar) announced at the event that the company was going to use artificial intelligence to map out legs in the metaverse, allowing avatars the ability not only to walk and run but also to wear digital clothing for their legs (a marketplace that Zuckerberg has said he is eager to participate in; Roblox, a gaming platform I’ve written about before, currently has a comfortable share of the market). This would be a huge step to improving how users think about movement in the metaverse and how they decide to represent themselves there.
But even with legs, and even with the ability to roam the metaverse without a headset strapped to your face, the key question remains: Is Meta’s metaverse something people will actually buy into? It’s worth noting that even employees at Meta are skeptical about the company’s vision, with one going so far as to say the amount spent on these projects to date made him “sick to [his] stomach.”
A free, shareable version of the metaverse accessible via weblink will open the previously closed world up to people who may not have hundreds of dollars to burn, and it’s a huge move toward democratizing the space. It might lead people to buy Meta’s claim that talking to a cartoon version of your boss is totally cool—and, more broadly, that the metaverse really is the next digital plane on which we’ll conduct our lives. 
But it might also do the opposite: people might hop on the link and find that even in its now full-bodied state, the metaverse, er, doesn’t have legs.
An avatar of the singer, who died in 1997, performed with live rappers on Meta’s Horizon Worlds.
In his own words, the Chinese painter shares how he became a one-person newsroom during a week of intense protests against China's zero-covid policy.
Reflecting on my desire for Chinese-style e-commerce platforms.
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OREO Launches Its Own VR Metaverse Experience – VRScout

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The OREOVERSE is available now via Horzion Worlds.
This week OREO unveiled a new limited-edition flavor, the Most OREO OREO, which features real OREO grind mixed in the creme. In celebration of the new product, the company has created its own metaverse experience accessible on Meta Quest 2 and Meta Quest Pro headsets.
According to the company, the OREOVERSE features a variety of “cookie-themed” games that have you building delicious treats in VR for a chance at $50,000. As part of the campaign, TV personality Martha Stewart and her gardener Ryan McCallister will stream themselves exploring the OREOVERSE next week on the OREO brand’s social channels.
“We’re so excited to enter the metaverse! OREO is the cookie that begs to be played with and we love to create new opportunities for our fans to connect with each other and share that playful spirit,” said Julia Rosenbloom, Senior Brand Manager, OREO, in an official release. “The Most OREO OREO cookie gives fans a whole new way to playfully engage with us. By scanning the pack, they will ‘dunk into’ the new OREOVERSE world.”
“I am excited to make my metaverse debut in partnership with one of my favorite cookie brands, OREO, and having Ryan there with me will make it all the more fun,” added Martha Stewart. “The two of us have had our fair share of adventures over the last 10 years and have been able to navigate just about anything together, especially in the garden!”
The OREOVERSE is accessible now on Meta Quest 2 and Meta Quest Pro headsets via Horizon Worlds, Meta’s own social VR metaverse. Marth Stewart’s OREOVERSE excursion will begin on Monday, January 30th at 10:00 am ET on Facebook and Instagram. For more information visit here.
Image Credit: OREO
Kyle is a writer for VRScout also working in new media production. He’s also a part-time bounty hunter.
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