4 things you need to know about the metaverse this week
The metaverse promises a vast range of immersive experiences and has the potential to reshape large sections of the global economy. Image: Unsplash/ Stella Jacob
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:
The Metaverse
- This regular roundup brings you a selection of the latest news and updates on the development of the metaverse.
- Below you'll find insights and opinions on how this emerging technology could transform the way we work, make purchases and spend our leisure time.
Citi says metaverse economy could be worth $13 trillion by 2030
The investment bank Citi has put a valuation on the metaverse, suggesting it's potentially a $13 trillion opportunity by 2030. The eye-catching valuation was made in the bank's Metaverse and Money report.
Citi predicts as many as 5 billion people will be regular users of the metaverse once it reaches maturity. The report predicts a range of prominent use case for the metaverse including healthcare, entertainment, smart manufacturing and virtual tourism.
Microsoft security lead calls for protection from metaverse hackers and cybercriminals
Microsoft's new security chief has warned the metaverse must have security built in from the ground up to protect systems and users from criminals. In a blog on Microsoft's website, Charlie Bell - Executive Vice President, Security, Compliance, Identity, and Management wrote: "We have one chance at the start of this era to establish specific, core security principles that foster trust and peace of mind for metaverse experiences. If we miss this opportunity, we’ll needlessly deter the adoption of technologies with great potential for improving accessibility, collaboration and business. The security community must work together to build a foundation to safely work, shop and play."
Meta signs partnership for 3D ads in step toward the metaverse
Meta Platforms will make it easier for brands to run three-dimensional ads on its Facebook and Instagram social media platforms through a new partnership with an ecommerce technology firm. The integration with VNTANA will allow brands to upload the 3D models of their products to Facebook and Instagram and easily convert them into ads.
Strutting cats and flying models at the first metaverse fashion week
A fashion show with a difference has been staged in the Metaverse, reports Vogue Business.
Highlights included "virtual cats, in place of models strutting on the Dolce & Gabbana catwalk. All of the models on the Unxd-curated runway could fly after emerging out of model-sized blooming lotuses, and walked in a vast venue that resembled an Olympics opening ceremony arena with music-coordinated light shows to match."
Don't miss any update on this topic
Create a free account and access your personalized content collection with our latest publications and analyses.
License and Republishing
World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.
The views expressed in this article are those of the author alone and not the World Economic Forum.
The Agenda Weekly
A weekly update of the most important issues driving the global agenda
You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.
More on Emerging TechnologiesSee all
Simon Torkington
October 16, 2024
Carl-Benedikt Frey, Era Dabla-Norris, Rob Hornby and Laura D'Andrea Tyson
October 15, 2024
Thomas Crampton
October 14, 2024
Thierry Botter and Karen Hallberg
October 14, 2024
Inderpreet Sawhney, Delia Ferreira Rubio and Houssam Al Wazzan
October 14, 2024