The metaverse is the next stage in the evolution of the internet and social networks, utilizing real-time 3D technology, which combines the physical and digital realms. It offers a chance for top online entertainment and social media businesses to profit from new revenue streams. It is the next major technology platform, drawing online game producers, social networks, and other tech leaders to participate in what we anticipate to be a nearly $800 billion market.
Early adopters and builders are rapidly emerging as leaders in the fast-growing world of virtual reality. According to a recent research analysis by Cointelegraph, the global trends have been in favor of the NFTs and larger metaverse surpassing the term “crypto”. With celebrities and consumer brands diving deeper into the realms of metaverse and NFT, the huge demand is evident in the growing digital landscape. While virtually exhibiting their talent and providing an immersive experience to their audience, the metaverse narrative has drawn traditional know-how in the digital sphere.
Blockchain Solutions with Innovation
The Metaverse has attracted a lot of attention in 2021, as big corporations like Facebook (now Meta) and Nike make plans to establish infrastructure in the sector. However, Move Digital claims to have been working with blockchain initiatives to integrate immersive digital realities long before these big corporations got on the bandwagon.
Kristof Schöffling, Founder and CEO of Move Digital, stated:
“The Metaverse is a cutting-edge technology that will change the way we interact with the digital world. Our team has dedicated years of experience to master this technology and we’re excited to see it grow. We’re committed to helping businesses harness the power of the Metaverse and we look forward to seeing the growth in our client base.”
The company says it has been involved with initiatives all around the world using the Metaverse platform. In 2022, Move Digital claims to have contracts in place with blockchain-oriented firms in Japan, South-East Asia, South America, Australia, and Europe to develop and deploy Metaverse worlds.
In addition, its trademark creation method allows businesses to create immersive Metaverse environments that mimic the real-world economy. The company provides innovative digital payments, digital identity, data security and supply chain solutions leveraging blockchain technology to its best potential. Move Digital encompasses holistic solutions including refinement, implementation and management of blockchain solutions to ease the hassle for corporations.
According to a report by Bloomberg, the worldwide Metaverse revenue potential may be as high as $800 billion in 2024, compared with about $500 billion in 2020. By 2024, the report states that the gaming market may reach more than $400 billion, with live entertainment and social media making up the remaining portion. As an advisory firm, Move Digital has positioned itself to help businesses get on board with the technology.
Kristof Schöffling is the CEO of Move Digital. Mr. Schoffling is a serial entrepreneur with extensive experience launching, growing, and selling prominent, high-tech businesses in several areas of the digital world, including online retail stores, online gaming, and data acquisition. He’s been frequently interviewed by well-known news organizations such as Bloomberg, Forbes, and Yahoo on the latest trends in digital technology.
With the emergence of the metaverse space, the subsidiary of PricewaterhouseCoopers, PwC Hong Kong recently acquired land in the leading virtual world, SandBox.