Global Investment Company BlackRock expects 2022 to be a significant year for the Metaverse economy, with several innovative products expected to be launched in the coming months. As a major tip to Metaverse’s growth potential, they have speculated that improved technology could unlock the Metaverse gateway into the mainstream.
Over the weekend, Nigel Bolton, co-head of the $ 10 trillion money manager’s equity division, told CNBC.
Both Apple and Google are developing augmented reality glasses; however, Apple is rumoured to be closer to launch. Bolton’s comment came after the fourth-quarter earnings report from a big tech company showed a keen interest in the Metaverse. Metaverse is a loose term for a virtual world where people create avatars to play games, work, build and watch virtual events. Earnings from Meta, formerly Facebook, showed the company’s Reality Labs metaverse section reported massive and growing losses, including $10 billion in 2021 alone.
Meta is leading the charge of the Big Tech companies into the Metaverse, but Microsoft recently agreed to buy video game maker Activision in a $69 billion deal. Apple CEO Tim Cook in January called it “very interesting.” Bolton told CNBC that the widespread arrival of 5G internet speeds should also be a catalyst that will drive more people to use Metaverse like technologies.
Yet in terms of investing in the Metaverse, he said: “It’s quite hard for us to understand at this moment in time exactly how big this is going to be and who are going to be the real winners there.” Bolton said it’s a bit like the early days of the internet in the 1990s, or the advent of smartphones in the 2000s.