Crypto.news recently interviewed David Shrier, author of the book ‘Basic Metaverse,’ to discuss the future of the virtual world. According to recent reports, the global metaverse market could potentially reach a revenue of $1,237 billion by 2030. However, security and privacy concerns may hinder the market’s growth.

Shrier, a futurist, author, and entrepreneur, shared insights about the future of this emerging technology and its potential impact on our daily lives. In his book, ‘Basic Metaverse: How Virtual Worlds Will Change Our Reality and What You Can Do to Unlock Their Potential,’ he delves into various aspects of the metaverse.

During the conversation, Shrier highlighted the challenges of the metaverse and discussed a future where interacting with the virtual world through contact lenses or brain implants could become a reality sooner than expected.

Metaverse Market Insights:

  • The metaverse market generated over $66 billion in revenue in 2022.
  • Augmented reality and three-dimensional browser-based metaverse companies like Roblox and Minecraft are thriving.
  • The NFT market has experienced a healthy correction, with viable products showing strong performance.

Challenges and Potential of the Metaverse:

Shrier addressed concerns about the early adoption of metaverse technology, citing issues such as motion sickness caused by VR goggles. He emphasized the need for more user-friendly and inclusive technology to drive adoption.

Regarding privacy and deepfake concerns, Shrier highlighted the role of blockchain technology in establishing unique digital identities and AI in detecting deepfakes. He also discussed the potential use cases of the metaverse in corporate environments, such as virtual training programs.

Regulation and Security in the Metaverse:

Shrier emphasized the importance of proactive defense against disinformation in the metaverse and proposed collaborative efforts between companies, AI technologies, and regulatory bodies to address security concerns.

He advocated for principles-based regulation that supports innovation while protecting consumers, citing examples of effective regulatory approaches in countries like the U.K., Singapore, Nigeria, and Kenya.

Future of the Metaverse:

Shrier discussed the evolution of access to the metaverse, from lighter, cheaper devices to invisible technologies like contact lenses and implantable solutions. He predicted that these advancements could become mainstream in the next decade, offering new possibilities for immersive experiences.

Finally, Shrier expressed optimism about the integration of cryptocurrencies in the metaverse, highlighting the importance of portable identities and financial transactions. He noted the growing acceptance of cryptocurrencies in mainstream financial services, signaling a positive trend for the future.

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