Rounding off the first section of our Everdome Uncovered series, where we explored the history of the metaverse, we take a brief look into the present and future of metaverse building, to discover some of the others pioneering the metaverse space along with Everdome, as well our predictions and assessment of its future.
As we saw in our previous articles on ancient ancestors and proto- metaverses, the metaverse really can be seen as part of a much longer tradition of bringing imagined worlds to life.
Furthermore, projects such as Second Life and more recently Roblox and Fortnite have proven there is wide public interest and acceptance of immersive experiences with dynamic and real time interaction with others.
But what is the current situation for the metaverse?
From Decentraland to Illuvium and Star Atlas, the metaverse space is growing and vibrant, as projects and platforms push for wider metaverse adoption through the creation of imagined worlds, building on blockchain technology and powered by advances in 3D creation tools.
Let's look at some statistics from McKinsey research and others about the metaverse today:
- The metaverse market size is estimated to have a current value of between $38.5 billion and $50 billion.
- There are 400 million active metaverse or proto-metaverse daily users.
- 74% of US adults are joining or considering joining the metaverse.
- In the first half of 2022, investments in the metaverse were $120+ billion.
- 79% of active metaverse/proto-metaverse users have made a purchase there.
Further growth is expected across the next two years, as companies and brands increasingly understand the concept and buy into the future use cases for immersive experiences.
Predictions for the future value of the metaverse have ranged from $800 billion to over $5 trillion, which shows the potential, but the variation in numbers also highlights the difficulty in clearly defining where the metaverse is exactly going to be.
Three scenarios were eloquently presented by a representative from the global consulting firm Bain & Company, when their senior manager, Lauren Lubetsky, outlined the following possibilities:
The metaverse remains a domain of niche applications, used by consumers for entertainment and gaming but stopping well short of an all-encompassing virtual reality.
The metaverse is controlled by large competing ecosystems -- for example, Apple and Android meta worlds -- with limited interoperability.
The metaverse is a dynamic, open and interoperable space, much like the internet but in 3D’’
Everdome’s vision is rooted in the final possibility, that the metaverse will become an open and interoperable space. So where does Everdome fit here? What is our vision for our place inside this metaverse ecosystem?
We have spoken a lot about our experience being ‘’hyper-realistic’’, which forms part of the unique offer Everdome builds.
We have also spoken about Everdome in terms of an experience, rather than a game or a metaverse business platform.
These key ideas form the basis of Everdome, setting us apart from others as we build a future imagined world based in real science, but collaborating with real space scientists, soundtrack composers and concept artists in our commitment to creating an experience of the highest quality.
And experience is the key word here. Our goal is to create the foundations of an experience where others can live and build, using our unique world to spark creativity and storytelling that transcends the confines of a simple game.
We construct an ecosystem and environment where both brands and individuals mutually benefit from gamified, experiential engagement with our hyper-realistic experience.
We engineer a space where people can interact, transact and build networks, gradually allowing this space to be collaboratively curated by both the Everdome team and our community of Evernauts.
We build a hyper-realistic proof of concept, showing how a metaverse experience can retain the highest levels of fidelity and quality in visualization, gamification, soundscaping and storytelling while retaining metaverse wide scaling and connectivity potential.
All these goals combine to create the Everdome ‘’experience as a platform’’ concept, where we demonstrate how futuristic technology can sit inside the Web3 ecosystem, creating the digital infrastructure for users to experience a totally new way of interacting with each other, with brands and with companies.
However, Everdome cannot build the metaverse alone. We are all about creative collaboration, inside our platform and with the wider metaverse creators. Everdome welcomes the situation where multiple different projects create metaverse spaces, and we constantly look to build partnerships in order to facilitate an interoperable future.
Co-operation between metaverse pioneers is key, and managing this in a manner which fosters collaboration as a defining, ongoing metaverse feature is a challenge that we happily take up.
In our next article, we will take a closer look at some of the other challenges which must be solved and overcome if the metaverse is to realize its transformative potential.
Stay tuned for further product, partnership and news updates to come.
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