Shillong, July 31: A recent report has revealed that the number of users in the Metaverse, the virtual 3D environment where the physical and digital worlds converge, is projected to exceed 600 million by 2026. The driving force behind this surge is generative artificial intelligence (AI), which has garnered significant attention in recent years for its impressive capabilities.
At present, there are already over 300 million active users in Metaverse video games and virtual world platforms, according to BanklessTimes. Unlike traditional AI, which operates based on explicit rules, generative AI has the remarkable ability to autonomously generate content, images, audio, and entire virtual worlds.
As per IANS, this advanced technology enables the creation and population of virtual environments with interactive elements, lifelike avatars, and immersive experiences, making it a pivotal factor in the adoption of the Metaverse.
According to BanklessTimes Crypto expert Alice Leetham, generative AI represents a crucial moment in the evolution of the Metaverse, empowering users to co-create and personalize their virtual experiences, effectively bridging the gap between imagination and reality. As the integration of generative AI within Metaverse applications progresses, the question is no longer if the Metaverse will become a part of our daily lives, but when.
Furthermore, the report highlights the transformative potential of the convergence between generative AI and the Metaverse across various industries. Traditional gaming is expected to evolve into more open-ended, player-driven experiences, drawing in more users to the Metaverse. This transformation could lead to the emergence of entire virtual economies, enabling the creation and exchange of digital in-game assets with real-world value.
In India, the Metaverse and Web3 market opportunity is predicted to grow at an annual rate of nearly 40 per cent, with the potential to become a $200 billion industry by 2035, according to international management consulting firm Arthur D. Little.