![]() ![]() Gartner defines the metaverse as “an immersive digital environment of interconnected networks. In the same way that the internet led to email, websites and social media, the metaverse will be used for many purposes, some of which are clear already. Hundreds of other global brands - from American Eagle Outfitters to Gucci, Qantas and Prada - are moving to reimagine their wares in digital form as the metaverse promises to open up opportunities for marketers, retailers and employers.īut how relevant is the metaverse to directors and is it the right time to invest? Brave new worldĭefining the metaverse is similar to trying to describe the internet to someone in the 1990s, says Tuong Nguyen, senior principal analyst in emerging technologies and trends at Gartner, a Connecticut- based technological research and consulting firm. In January, Microsoft announced it would become a pioneer in the sector and spent US$75b on video game publisher Activision Blizzard, giving it control of the iconic Call of Duty and World of Warcraft gaming franchises. Global social media and social networking service Facebook Inc changed its name to Meta in October 2021, announcing it was making multibillion-dollar investments in metaverse technologies. Globally, companies like Meta, Tencent, Epic Games, Microsoft and SK Telecom are embracing what is known as the “metaverse” - a collective virtual shared space, created by the convergence of virtually enhanced physical and digital realities. Any parent with a teenager who prefers playing Fortnite to speaking face to face knows that the lines between real and virtual worlds are increasingly blurry. ![]()
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