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Adoption of metaverse technologies

Slow adoption of metaverse technologies

Marketers do not think consumers and brands widely will adopt metaverse technologies, Insider Intelligence says in an analysis a year after Facebook changed its name to stress its trust on the future for the Metaverse.

“Only 27% of them strongly agree with the statement, “There will be widespread adoption of metaverse technologies for consumers and brands,” the company says quoting a Sitecorp survey among marketers made this autumn.

Despite the forecast about a slow adoption, Meta can focus on a handful of metaverse products to build a solid user base, Insider Intelligence says. 

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“Areas like VR fitness, immersive sports, concerts, and gaming events are compelling and open up various opportunities for brands to advertise on the platform.” 

The company quotes its analyst Jasmine Enberg saying: “There won’t be a magical moment when we all suddenly enter the metaverse.”

“The transformation was meant to allow Meta to dictate its own narrative and pivot away from a beleaguered social network and into a leadership position in VR. Instead, it learned that the pace of its transition will be driven largely by consumers, not advertisers”, the analysis says.

“No other company has made as many inroads into VR ecosystems as Meta has, even its under-occupied virtual reality worlds are generations ahead of would-be competitors. The company also leads in VR headset sales.”

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