Metaverse entertainment will reshape social lifestyle, says 69% of users


  • A recent CoinWire research of crypto investors found 69% of participants believed the metaverse would alter social norms.
  • People were concerned about how it will affect their finances, businesses, and education at rates of 61.2%, 49.6%, and 45%, respectively.
  • Additionally, the survey discovered that 53% of those who are invested in the metaverse own bitcoins.

Last year, the crypto and Web3 markets witnessed a clash between extremely volatile values and high expectations for the space’s future. Both users and investors have continued to invest in the company, notably in areas relating to the metaverse.

According to a new CoinWire study of over 10,000 crypto investors conducted in December 2022, consumer opinion toward the metaverse shows digital reality is poised to influence all facets of social life. 69% of respondents said that the metaverse would change social habits through a new approach to entertainment, while 65% predicted that the metaverse would modify social activities.

At 61.2%, 49.6%, and 45%, respectively, people were concerned about how it will influence their finances, businesses, and education. Microsoft has obtained 158 metaverse-related patents in the previous five years, outnumbering big tech corporations such as Meta, Tencent, and Epic Games.

As the metaverse evolves, it will potentially have a more substantial impact on social life. For example, during the Consumer Electronics Show 2023, new metaverse capabilities such as touch and scent were recently demonstrated.

Furthermore, the survey found that more than half (53%) of respondents who are invested in the metaverse possess cryptocurrencies.

By 2030, the worldwide metaverse market is anticipated to be worth $680.80 billion. Because of the presence of prominent market players with a global presence, such as Alibaba Group Holding Limited, ByteDance Ltd., Facebook, Inc., Huawei Technologies Co., Ltd., Meta, and Microsoft Corporation, among others, the global market is highly competitive.

According to the report, the United States ranks first in metaverse innovation. However, as indicated above, China and India have the highest levels of positive opinion regarding everyday metaverse use, with 78% and 75%, respectively.

According to the report, while nearly 9 out of 10 respondents have heard the term “Web3,” 52% are unsure what it means when anything is referred to as “Web3.”

In keeping with the uncertainty that many investors experience, more than 60% of respondents felt that the industry should be regulated more strictly. Over the previous year, regulators throughout the world began to approve and debate new industry norms.