Marketing in the Metaverse facing regulatory limbo
The metaverse is an elusive concept, but can be broadly described as a rapidly growing extension of the tendrils of the internet, redefining what constitutes social media. As an ever-growing and immersive network of technologies, the metaverse attempts to close the gap between society and the media that serves as its vehicle. As it exists now, the metaverse is a multi-platform virtual ecosystem with an integrated economy that evolves and grows in real time. A more developed vision of the metaverse has been conceptualized as “a fully immersive, virtual world run in parallel to the physical world with mass-scale adoption.” The economic implications are enormous: one recent report forecasts that the metaverse market will surpass a value of $993 billion USD by 2030.