The metaverse, a part of blockchain technology, seems to have survived the ongoing bear market storm. Reports show that more people are showing interest in the metaverse. A survey by Capgemini, a business and tech strategy advisor, revealed that more than three out of four customers want to carry out transactions in the metaverse.

As the world advances into digitization, virtual reality gains more popularity. Given its utility as an alternative to a physical business location, customers find it convenient as it allows them to perform transactions anytime, anywhere.

More businesses are moving into the metaverse for its potential to reduce operating costs since they can have a virtual business location.

Similarly, seven out of 10 organizations believe the metaverse and immersive experiences will boost the market in terms of customer experience. The study surveyed 8,000 customers and 1,000 organizations in 12 countries across different sectors. The aim was to understand the potential of virtual reality, and how it can impact people’s lives.

Details Of The Survey

During the study, 380 customers agreed they had a virtual reality experience. Three-quarters of the 380 customers said they are active metaverse participants. The report revealed that 93% of interviewed customers are interested in virtual reality. Out of the 93%, 51% said they are ready to use the metaverse when it becomes accessible to them.

Capgemini’s global immersive experiences offer leader, Charlton Monsanto, commented on the need to increase the accessibility of virtual reality. In his statement, Monsanto said the consumer-facing virtual reality needs to address challenges, such as accessibility and privacy, to move forward. Monsanto said the metaverse is transformative and maintains a high customer curiosity.

Awareness, accessibility, and consumer education are keys to the mainstream adoption of new technologies. Unfortunately, these factors remain the key challenges preventing effective communication between tech-savvy brands and customers.

The survey studied the type of interactions customers want. On that bases, 43% of respondents said they look forward to interacting with family and friends in virtual reality. In addition, 39% said they would like to interact with colleagues, 33% mentioned gaming experiences, and 28% were interested in commercial activities on the metaverse.

Metaverse Could Be A Mirror Of Today For Tomorrow

Metaverse development has increased over time due to its emphasis on connectivity, enabling people to interact with one another during concerts and festivals. In addition, some nations have started adopting the metaverse to preserve their cultural heritage for future generations to interact.

November reports revealed that Tuvalu, an island nation, announced plans to preserve its culture and society with Web3 technology. The island nation of Tuvalu might lose its cultural heritage due to high tide, and the government seeks to save it with virtual reality technology.

The metaverse developer Animoca Brands recently announced plans to launch a billion-dollar development fund for startups in the space.