NEWS17 August 2022

Brands should consider risks before joining metaverse

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GLOBAL –The use of blockchain and cryptocurrencies, sustainability and brand safety are all areas that must be considered before companies enter the metaverse, according to a report by data and measurement-driven media agency Essence.


Manifest Metaverse: A realistic look at the next digital frontier encourages brands to monitor the metaverse and, where appropriate, consider experimenting there.

On the other hand, according to the new study, some of the hype has far outstripped reality. While online gaming platform Roblox reported 54.1 million daily active users in the metaverse for the first quarter of 2022, by way of comparison Twitter has 229 million daily active users and Facebook can count some 1.93 billion.

According to a report by Bloomberg, the global market for the metaverse was estimated at $478.7b in 2020 and is projected to reach $783.3b by 2024 at a compound annual growth rate of 13.1%.

The new report includes chapters on demographics, blockchain and crypto currencies, brand safety, sustainability, and B2B applications for the metaverse. The report can be viewed here.