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    Why Metaverse has to now convince adults of its benefits beyond internet

    Why Metaverse has to now convince adults of its benefits beyond internet

    Why Metaverse has to now convince adults of its benefits beyond internet
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    By CNBCTV18.com  IST (Published)

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    The virtual world is here in a big way. Roblox is developing features to attract older users. The online gaming platform is introducing age-restricted sections of the metaverse that can host content for adults.

    Even as dominant tech players have been screaming that the Metaverse is going to be the next big thing, the virtual world is already here in a lot of ways.
    Online gaming companies like Epic Games and Roblox have created a virtual space where people play, socialise and even make a living by selling digital wares. Popular among kids and teens, who play Fortnite, Roblox and Minecraft, the Metaverse now has to mature and spread beyond the core group, CNBC reported.
    Within a few months of this year, the Metaverse became a mainstream concept with tech investors pumping in money into this futuristic idea. In the beginning of the year, gaming company Roblox listed on the bourses and ended its first trading session with a $38-billion valuation. Mark Zuckerberg rebranded his social media platform Facebook as Meta and promised to spend $10 billion to create a new kind of virtual reality (VR) internet.
    Zuckerberg said the company would hire 10,000 people in the European Union to develop the Metaverse.
    However, the challenge for these companies now is to showcase the benefits of the Metaverse over the internet for the older generation.
    Roblox is developing features to attract older users, chief business officer Craig Donato said. The online gaming platform is introducing age-restricted sections of the Metaverse that can host content for adults, he said.
    The company, which hosted office meetings in the virtual version of their headquarters during the pandemic, even celebrated their 2020 holiday party in the Metaverse. Both Roblox and Epic had American rappers Lil Nas X and Travis Scott performing on their platforms.
    Tech companies are investing in the Metaverse with the hope of securing a big slice of the online economy in the future. Despite a combined market cap of $3 trillion, tech giants Microsoft and Meta are lagging behind smaller players in building the virtual world.
    According to CNBC, the Metaverse today is what social media was in the early 2000s. While several companies are developing it, none of them have a clear advantage. It could take 15 years to build the ultimate vision, CNBC quoted Meta’s top executives as saying.
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