02.Metaverse Market
Metaverse market analysis
01. The market of Metaverse
Metaverse is a compound word of meta, meaning fictitious and abstract, and universe, meaning the real world. In the online 3D virtual world, individuals realized in the form of avatars can communicate with each other, earn or spend money, enjoy play, and perform productive activities as they are in reality.
Currently, it is widely used in games, entertainment, and business-to-business environments, such as replicating everyday actions in virtual space.
The expansion of the metaverse industry is projected through several market studies. The metaverse market is expected to reach USD 280 billion (about KRW 315 trillion) by 2025 as a result of the forecast by Strategy Analytics, a global market research company. In addition, according to the PWC analysis, it is expected to reach about $1.54 trillion in 2030.
02. Status of entry of major companies
Facebook (meta), MS
Facebook, which changed its company name to “Meta”, has a vision of upgrading the platform itself to Metaverse, combining VR and AR technologies with the world’s largest social platform, and even combining its own currency. Microsoft's Metaverse is embodying the MS' metaverse vision by introducing the 'Mesh for Teams' that enables realistic meetings in a virtual environment with personalized avatars.
Roblox, ZEPETO
Roblox is a game platform based on the concept of a virtual world, where you can enjoy games with your own Lego-shaped avatar, and not only chat and call between users, but also create your own games. It is very popular among students and children under the age of 16 in the United States, with 50 million games created within Roblox. It debuted on the New York Stock Exchange in March 2021, It has become a company with a value of 51.32 trillion won).
In Korea, ZEPETO, an augmented reality (AR) based 3D avatar app developed by Naver, is a platform that uses facial recognition and AR to create avatars and virtual worlds, and is growing rapidly, mainly among teenagers.
03. Limitations of the metaverse market
Since the metaverse services that have emerged today are limitedly used only within a virtual space that is far from reality, these services or items are unfamiliar to the general public except for those who are friendly to actual digital technology, or there is a sense of separation from real life services.
There are limits to intimacy. In addition, the unreasonable content structure that is not fully decentralized and the absence of an integrated platform between the virtual world and the real world are also challenges to be solved. Now, with the development of the metaverse market, the demand for a proper integrated platform that can bring together virtual reality users and metaverse content within the market is growing.
In this, X2E's service requires that X's act itself, as well as the reward provided by E(Earn), have value in order to establish the fundamental purpose of X as the primary purpose of the user. Therefore, Mega Project intends to present innovative solutions to overcome the above limitations.
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