Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by C...
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of gaming and film companies. Metaverse of Entertainment to Grow, Fueled by Consumer Adoption The metaverse and its future adoption continue to be a matter of active research by market forecasting companies. A report issued on Nov. 11 by Technavio, a market research....
Related News
The value of blockchain in socializing, entertainment, and advertising is expected to grow 26x by 2026 to reach $4.37 billion. This will be largely thanks to the growth of the metaverse, which heavily relies on blockchain. Many chains can efficiently support metaverse startups, including Solana, and Polygon, and the upcoming Wakatta – but which one […]
Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division. The division, named the extended reality unit, will be the one tasked with encompassing all metaverse-driven efforts, including hardware and software developments. According to reports, the company aims to employ over 300 in this unit, with Tencent giving it big importance even among executing cost-cutting measures.
Tencent Officially Announces Metaverse Division
Tencent, one of the biggest Chinese software companies, has taken another step toward getting into the....
The billion-dollar entertainment conglomerate Konami will jump into the Web3 and Metaverse with its own products and services. The company made the announcement via its official website with the launch of new positions to create the team that will allow them to enter the nascent sector. Related Reading: Binance Launches $500 Million Fund To Support […]
Real estate sales in the metaverse are expected to reach a billion dollars this year, according to a metaverse analytics firm. The company expects real estate sales on four major metaverse platforms, which surpassed $501 million last year, to double this year. $1 Billion Metaverse Real Estate Sales Expected This Year Real estate sales on metaverse platforms surpassed half a million dollars last year, according to metaverse analytics firm Metametric Solutions. The company added that real estate sales on four major metaverse platforms — Sandbox, Decentraland, Cryptovoxels, and....
The Government of the city of Shanghai has proposed a group of guidelines to help it shift into a metaverse power. The plan of action defines each one of the technologies that the municipality needs to focus on to achieve the goals of building a $52 billion metaverse economy, while at the same time helping to establish 10 innovative companies in the area.
Shanghai Establishes Metaverse Development Plan
The metaverse is emerging as a technology that is attracting the interest of major countries and cities in the world. Shanghai, the largest city in China by population, has issued....