Sciencelovers - Apple certainly will not be left behind in the Metaverse fever in the technology industry. The iPhone manufacturing company...
Regarding the Metaverse opportunity, CEO Tim Cook said the sector was very attractive for the company. "There's a lot of potential there," he said.
"Yeah, that's a big question. But we're a company in the innovation business, so we're always exploring new and emerging technologies. And I, you've talked at length about how this field is very exciting to us," said Tim Cook, quoted by Business. Insider, Wednesday (2/2/2022).
"We currently have more than 14,000 ARKit apps in the App Store, which are providing incredible AR experiences for millions of people today. We have a lot of potential in this area and are investing accordingly."
For information, AR or augmented reality is one way people can enter the virtual world that makes up the Metaverse. ARKit is Apple's development platform for AR applications.
Meanwhile Metaverse has become a star in recent times. Especially when Facebook changed its name to Meta and focused its business on that sector.
Apart from Apple, a number of technology companies have also stepped into the world. Samsung, for example, has opened a digital store in New York on the Metaverse.
The Samsung 837X is the result of Samsung's collaboration with Decentraland. It is an ethereum based virtual world platform.
Meanwhile, Metaverse also extends beyond the technology sector. One of them is the Australian Open event setting up a Grand Slam tennis tournament in a virtual world to mirror the live matches of the last two weeks.
Adidas is known to own a plot of land in the Metaverse. Snopp Dogg is also reportedly building a digital version of the real home Diamond Bar California.
Metaverse itself is a virtual world that allows people in it to carry out various activities such as work, socializing, to playing games.
The term metaverse grew in popularity after Facebook CEO Mark Zuckerberg changed the parent company's name to Meta last year.
To enter the metaverse, users need additional tools such as a virtual reality (VR) headset. In recent months, Apple has been rumored to be working on a VR headset that may be released in 2022.
Cook's comment does not mention the term metaverse at all. Rumor has it that metaverse is a forbidden word at Apple.
That's Tim Cook's statement that he sees great potential in metaverse technology, even Apple has started to look at this.
Metaverse potential reaches US$8 trillion
Some estimate the potential size of the metaverse to be in the trillions of dollars. Morgan Stanley and Goldman Sachs said the figure could be as high as $8 trillion.
Analyst Eric Sheridan explained the prediction at an event at Goldman Sachs titled "Understanding the metaverse and Web 3.0". He was asked about the evolution of the metaverse and the size of the income opportunities in the industry.
According to Sheridan, Goldman Sachs analyzes today's digital economy, which accounts for about 20 to 25 percent of the global economy. They see the digital economy will continue to grow.
In addition, there will be a virtual economy that develops in tandem with the digital economy.
For this reason, Sheridan sees the metaverse opportunity as a US$2 to US$12 trillion opportunity, with US$8 trillion as of the median for all possibilities.
In December, Bank of America strategist Haim Israel said the metaverse is a huge opportunity where crypto assets will be used as currency. He believes the metaverse will develop into a huge trend.
Meanwhile, Ark Investment Management CEO Cathie Wood sees the metaverse as a trillion-dollar market. Crypto asset manager Grayscale Investment said the same thing, namely that the metaverse could be a US$1 trillion business opportunity.
