Creating value in the metaverse: An opportunity that must be built on trust

The Big Picture Crowdsource Innovation All the excitement and hype around the arrival of the metaverse has coincided with a global crisis of trust around such virtual spaces. Most firms view the metaverse as a new channel for their existing operations but the opportunities for value creation are growing rapidly. As the digital and physical worlds merge more than ever before, user trust in the technology and data behind the metaverse will be vital. The year 2022 marked the moment when the concept of the metaverse finally entered mainstream thinking. The arrival of this new technology – an immersive version of the internet that we will experience in avatar form – caused a huge amount of excitement and hype. It did not take long for the hype to collide head-on with a global crisis of trust around the space. This collision poses fundamental questions for businesses who view the metaverse as a major opportunity for value creation. At this early development stage of the metaverse, most businesses are viewing it as a new channel for their existing operations – a way of engaging audiences that are out of reach of current channels, namely Generation Z. As consumers and retailers […]

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