- Apple has shown interest in Metaverse and they see the right potential for the future.
- Apple is investing in Metaverse.
Apple CEO Tim Cook believes the metaverse has great promise and is investing appropriately. “It’s quite interesting to us,” he said. Morgan Stanley and Goldman Sachs, two global investment institutions, have forecast that the metaverse might be an $8 trillion potential.
The Metaverse has potensial
Apple Inc. responded to a query about the metaverse during its Q1 2022 earnings call last week. In response to the question, “What are your thoughts on the metaverse’s potential and Apple’s role in that market?”
Apple CEO Tim Cook replied, “We’re in the business of invention.”As a result, we’re continually looking at new and upcoming technologies.” And I’ve already said how fascinating this subject is to me.
Several individuals have calculated that the potential value of the metaverse is in the trillions of dollars. According to Goldman Sachs and Morgan Stanley, the metaverse represents an $8 trillion business opportunity.
Haim Israel, a strategist at Bank of America, stated in December that the metaverse is a big potential where cryptocurrencies would be extensively utilized as currencies. “I feel this is a massive opportunity,” he said.
The Metaverse cryptocurrency
The metaverse is a simulated digital environment that incorporates augmented reality (AR), virtual reality (VR), and blockchain, as well as social media principles, to build areas for rich user interaction that match the actual world. Think Ready Player One, but more approachable and practical.
Metaverse initiatives on blockchain networks are fueled by fungible tokens, which are divisible and may be exchanged for one another. These tokens are used to purchase digital goods such as virtual land or avatar clothes. They can also be traded for fiat money or other cryptocurrencies.
The metaverse is essentially a fusion of virtual, augmented, and physical reality, and it blurs the boundaries between your online and offline activities. But, to put it another way, it’s a collection of platforms like the Sandbox, Mirandus, and Decentraland via which individuals may connect in a variety of ways.