Friday, 27 January 2023

Crypto News

Organizations bring Africa, Costa Rica and Ukraine to the Metaverse to raise awareness

Organizations bring Africa, Costa Rica and Ukraine to the Metaverse to raise awareness

The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. 

In addition, a recent report from Juniper Research links nonfungible token (NFT) growth to metaverse use cases. According to these findings, metaverse-related NFTs will experience an increase from 600,000 transactions in 2022 to 9.8 million by 2027.

Given this potential, a number of regions across the globe have started to establish a virtual presence. For example, the emirate of Dubai announced the launch of the Dubai Metaverse Strategy in July this year. As Cointelegraph previously reported, the Dubai Metaverse Strategy aims to attract companies and projects from abroad while also providing support in metaverse education aimed at developers, content creators and users of digital platforms.

While the concept may sound futuristic, industry experts believe that this is a logical progression. Hrish Lotlikar, co-founder and CEO of Superworld — an augmented reality content platform — told Cointelegraph that as Web3 technology becomes integrated into everyday lives, future-forward regions, governments and organizations will capitalize on communication, gamification and monetization opportunities in the Metaverse.

Organizations bring regions to the Metaverse for a purpose

This appears to be the case, as many organizations are focused on establishing geographical territories within Metaverse ecosystems. For example, Africa can be accessed virtually in Ubuntuland, a Metaverse platform that houses a land called Africarare. 

Mic Mann, co-founder and CEO of Africarare, told Cointelegraph that Africarare connects Africa to the global digital economy:

“Africa is one of the fastest growing populations in the world, and by 2050, it’s predicted that it will be one of the biggest populations. Therefore, we thought this was the perfect time to upskill Africa’s youth for this new world. Africarare aims to create the future of work for Africans and organizations who wish to connect with people across this continent.”

Mann added that Africarare has secured a 12×12 village, or 144 plots, of virtual real estate in Ubuntuland to establish its visibility. He explained that users are defined by digital avatars, which can enter Africarare’s “central hub” land to partake in custom…

Click Here to Read the Full Original Article at News…