Metaverse: The future of entertainment

As interest in the metaverse continues to mount, entertainment events, from music to sport, are increasingly taking place in the virtual space. The potential of the metaverse is clear, but users’ safety and privacy needs to be considered.

Discussions about the potential uses of the metaverse are nothing new. The world’s biggest companies, such as Google, Apple, Meta and Microsoft, have each made significant investments in the space, while research from Capgemini has found 93% of adult consumers surveyed are at least ‘metaverse-curious’.

But in the entertainment industry, there are signs that the concept of the metaverse is making its mark. Prompted by COVID-19 and the absence of in-person gigs and concerts, the metaverse has made its presence felt in the music industry, while there are early signs of metaverse concepts being implemented for fans at live sporting events, from the FIFA World Cup to the NBA.

But if the metaverse is to be considered the future of entertainment, safety and ethical aspects will be important to establish the sense of community that is central to its mass adoption.

With the collection and use of consumer data more important now than ever, safeguards will need to be put in place to ensure the success of the metaverse.

marcus.law@bizclikmedia.com