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77% of consumers disagree with Facebook owning metaverse data: Survey

77% of consumers disagree with Facebook owning metaverse data: Survey
Photo Credit: Pixabay
16 Feb, 2022
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More than seven in 10 consumers are having their reservations about Meta (formerly Facebook) owning the metaverse data, according to a research report. A report by the Hong Kong-based Advokate Group revealed that more than 77% of those interested in joining the metaverse are worried about Facebook owning the data.

Furthermore, 87% of the surveyed respondents revealed that they would prefer a metaverse on the decentralised blockchain. This sentiment was even more pronounced among Gen Z respondents who were 10% more likely to prefer a blockchain metaverse than their millennial counterparts.

While metaverse is a combination of both the physical and digital worlds where people can interact virtually, a blockchain is a digitally distributed, decentralised, public ledger that exists across a network of computers.

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The primary activity consumers are pursuing in the metaverse is gaming, followed closely by socialising with friends. A more distant third was work-related activities and then attending concerts. More than half (55%) expect to spend three or more hours a day in a metaverse, as per the report. 

“The future of the Internet is an immersive metaverse with a variety of thrilling, fun play-to-earn games. This survey illustrates that gamers and consumers are yearning for a digital space where they can play exciting games, socialise with friends and create and customise NFTs,” emphasised Gordon Kwok, Founder of Advokate Group. 

As per Advokate’s findings, many believe metaverses will take time to become mainstream. One in five (20%) believe they will be mainstream 1-2 years, while nearly half (49%) believe it will take 3-6 years. 

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The findings also revealed that Play-to-earn was a major interest of those surveyed, as 93% would game more if they could make minimum wage playing. While two thirds (63%) would play three hours more per day if they could make money, 11% would play seven more hours a day and 87% would switch to full-time gaming if they could get paid. 

Metaverse participants all seemingly would like to make real money while there with over 93% wanting to earn money that can be transferred outside the metaverse. When questioned about preferred features, respondents ranked earning money as number one followed by socialising. The third priority was the ability to transport between games without leaving the metaverse, the report said.