The metaverse, the emerging digital space using the convergence of virtually-enhanced physical and digital reality, will be utilised by a quarter of people by 2026 to carry out daily activities, according to a new report from Gartner.
The immersive experiences the metaverse provides will affect every vertical that consumers interact with daily and would entice them to work, shop, study and seek entertainment on the platform, the Connecticut-based firm said in a note on Tuesday.
“Vendors are already building ways for users to replicate their lives in digital worlds. Activities are being conducted in separate environments; eventually, they will take place in a single environment – the metaverse," Marty Resnick, research vice president at Gartner, said.
The metaverse is touted as the future of how society will interact, and is being championed by Meta Platforms, the world's largest social media company, formerly known as Facebook.
The global metaverse industry was valued at $47.69 billion in 2020 and is projected to hit $828.95bn in 2028, growing at a compound annual rate of 43.3 per cent, according to Emergen Research.
Businesses can give potential customers an online tour of their products such as interior design and furniture, for example, through a remote presentation. Metaverse experiences can be close to the real thing.
Organisations have an opportunity to expand their business models in new ways by moving from a digital business to a metaverse business, Mr Resnick said. Nearly 30 per cent of them will have products and services ready by 2026.
However, he urged caution in investing heavily in a specific metaverse, as adoption is still nascent and fragmented.
“It is still too early to know which investments will be viable in the long term, but product managers should take the time to learn, explore and prepare for a metaverse in order to position themselves competitively.”
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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Michael J Mazarr
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- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
MATCH INFO
Chelsea 0
Liverpool 2 (Mane 50', 54')
Red card: Andreas Christensen (Chelsea)
Man of the match: Sadio Mane (Liverpool)
The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
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Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
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Killing of Qassem Suleimani
Sri Lanka Test squad:
Dimuth Karunaratne (stand-in captain), Niroshan Dickwella (vice captain), Lahiru Thirimanne, Kaushal Silva, Kusal Mendis, Kusal Janith Perera, Milinda Siriwardana, Dhananjaya de Silva, Oshada Fernando, Angelo Perera, Suranga Lakmal, Kasun Rajitha, Vishwa Fernando, Chamika Karunaratne, Mohamed Shiraz, Lakshan Sandakan and Lasith Embuldeniya.
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Killing of Qassem Suleimani
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