Reinventing yourself in the Metaverse with digital identity

Metaverse users can reinvent themselves with a digital identity based on avatars and digital assets, but there are challenges to consider account.

The metaverse has become one of the biggest buzzwords of the year as a number of brands, companies, and even countries start exploring virtual worlds for doing business. Even though the development of Metaverse is still ongoing, a recent report by technology research and consulting firm Technavio revealed that the Metaverse will reach a market share value of $50.37 billion by 2026. /p>

Another report predicts that the growth of the metaverse will be driven by e-commerce, which is expected to reach a market share of $60.47 billion by 2026. E-commerce on social media platforms is also expected to increase during the period. years to come, which may suggest that the Metaverse will become the next generation of social networks. Therefore, it should come as no surprise that a number of millennials and Gen Zers are currently taking an interest in the metaverse.

Findings from the Metaverse platform's Virtua report's "Digital Ownership Report 2022" show that younger generations are particularly excited about the potential to reinvent themselves in virtual worlds that enable the creation of digital identities and ownership. For example, the report found that 63% of American millennials expect the metaverse to help them reinvent themselves, while 70% of Americans surveyed agree...