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Brands Are Already Making Millions in the Metaverse. Here’s What Business Owners Need To Know.

  • July 28, 2022
Metaverse readselective
Photo: Getty Images

If you’re still skeptical about the metaverse, you certainly aren’t alone. According to a recent survey, 55 percent of adults with yearly incomes over $100,000 said they were not interested or excited about the concept, while 37 percent said they were primarily worried about it. Only 6 percent of respondents claimed to be excited about the metaverse.

Those numbers might not seem encouraging, but it’s important to remember that one of the most popular metaverse platforms currently available, Roblox, averages more than 54 million daily users, the vast majority of whom are Gen-Z or younger. Those users have cumulatively spent more than $1 billion on digital items such as outfits or accessories designed to be worn by player avatars.

Kids and young adults nowadays are incredibly literate in social media and technology, and they’ve already made their interest in the metaverse clear, says Winnie Burke, senior director of global partnerships at Roblox. In the platform’s “Creator Mode,” players can use Lego-like digital “blocks” to build virtual worlds from scratch, and then share those worlds online or jump into other environments with their friends. Over 30 million of these virtual worlds have been created so far.

Source: https://www.inc.com/ben-sherry/roblox-forever-21-metaverse-e-commerce.html

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