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The Uptake | Make way for the metaverse

Written by The Uptake Published on   2 mins read

Will the metaverse revolution materialize?

Hi, it’s Edmund.

You’ve probably heard of the metaverse but what exactly is it? 

According to Deloitte, the metaverse is “a converged world of the virtual and the real” and a landscape for all of humanity to explore the next stages of development in society, technology, legal systems, and the arts.

In the first five months of 2022, more than USD 120 billion have been invested in building metaverse technology and infrastructure, more than double the USD 57 billion invested in 2021, based on a McKinsey report.

One reason why the metaverse has gained so much traction is that it has the potential to revolutionize the world, including the way we interact with each other and share our experiences in the virtual world in real-time.

The metaverse also has the power to transform the customer experience as consumers look for new and more engaging ways to connect with brands, said Alan Kueh, co-founder of Memotics.

To find out more about how the Web3 platform and its new metaverse, the Palace, aim to engage users with its “learn to earn” model, check out the article here.

In The Bullet this week

The next great tech invention is a question that has likely crossed the minds of many people in recent years. While we have seen some impressive advancements in technology, there hasn’t been anything truly groundbreaking. Where’s the cool stuff that we see in movies or read about in books? This raises the question: why is this the case, and what can we expect from future tech products?

Read Degen’s column here.


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