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Big Tech is Betting Big on Metaverse: Should Enterprises Follow Suit?

Microsoft’s acquisition of Activision Blizzard has given the Metaverse a strong start in 2022. Can more tech companies create an interoperable environment and invest in metaverse concepts before standards get established?

By | Ojasvi Nath |

The Metaverse has emerged as another of the many futuristic technology concepts that organizations, large or small, are racing to invest in, anticipating a high return on investment. Whether or not this concept will live up to the hype will be clear in the years to come. For now, let’s look at the razzmatazz of the buzzword, the underlying business opportunities, NFT agreements, and more.

Following Facebook’s announcement about building a Metaverse using its world-leading software and solutions, companies are investing heavily in the concept by assembling blocks (like AR, VR, and MR) needed to build what experts are calling a massive market opportunity. The virtual realm has promising economic possibilities and could become a $800 billion industry by the middle of this decade, and a $2.5 trillion one by 2030, according to a Bloomberg intelligence report. Given these figures, it’s easy to understand why the large tech giants foresee the metaverse as the internet’s future.

Microsoft’s biggest deal announced today has vindicated a bright start for the Metaverse. The global software giant’s $69 billion purchase of video game producer Activision Blizzard is yet another move to solidify its position in the burgeoning metaverse and put additional IPs underneath the Xbox and Game Pass banner. This acquisition will “accelerate the growth” in Microsoft’s gaming business across mobile, PC, console and cloud and will provide “building blocks for the metaverse,” the company said.

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