🛴The market

As a result of Covid-19 which forced hundreds of millions into remote schooling over Zoom and increasing Blockchain applications in the world, there is new jargon picking up recently. It was once just a niche concept adored by tech nerds; it is now a global phenomenon: The Metaverse. First mentioned in 1992 by sci fi writer Neal Stephenson, "metaverse" was used to outline a parallel world in which humans interacted with each other in a 3D virtual world, or as avatars. Fast-forward thirty years later, the term metaverse is now mainstream and is believed to become with a massive growth opportunity. It is shown in below Google Trend of Metaverse graph which reached level “100” worldwide by October 2021.

In a note to investors by early December 2021, Mark Shmulik, internet analyst at Bernstein, said the metaverse is likely to be "really big," with a combined annual run-rate of most markets at $2 trillion and growing. It's likely for this reason Mark Zuckerberg changed his company name to META on October 2021 and said he wanted to transition the company away from its singular focus on social networks towards a more immersive idea aimed for the metaverse. And the future looks promising for META while they own Oculus VR headset.

Aside from META, other companies also join this party in one way or another. We have Microsoft with HoloLens & Minecraft or Gucci collaboration with Roblox to build a virtual Gucci Garden which was available to everyone on Roblox for two weeks at the end of May, 2021.

Below table from Bloomberge Intelligence report shows an overview of companies developing business in Metaverse and it is believed the table will be much more complex in the years to come.