A survey of 100 largest manufacturing giants by the World Economic Forum revealed that they had plans in place for the including Metaverses into their businesses. Upon further investigation we found a similar trend in the UK, USA and in a few other countries.
The reason for a renewed vigor could be the reduction in Ethereum gas prices after the Dencun Upgrade.
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How the Dencun Upgrade Helps?
The Dencun Upgrade reduced the gas fees to a great extent.
Gas guzzlers (protocols cosuming a lot of gas) have now shifted to blob transactions which frees up space for ordinary users like you and me. This has helped reduce gas fees by a great extent.
The graph below shows how average transaction costs has reduced from over 100 Gwei to less than 30 Gwei within a week. It now costs less than $2.5 to send an Ethereum transaction with normal speed.
Companies Across the World Leveraging Metaverses
Several companies had earlier explored the technology around virtual worlds but most of them had to shut shop when crypto winter hit in 2022. When markets recovered back, these companies wanted to revitalize their programs but were unfortunate because Ethereum gas prices had already reached high levels.
Since Metaverses record each action on the chain, they need cheaper gas prices otherwise running these virtual worlds would be a very expensive affair.
USA
In the USA Manufacturing giants like Mercedes, Amazon Robotics and Helsinki have an active Metaverse program where these companies are leveraging the technology to build collaborative systems, visual computing and several other systems for internal and external usage.
A report by the WEF shows that around 92% of executives in the manufacturing sector (in USA) want to build their competitive advantage of their firm by leveraging advanced spatial computing.
The same report also highlights that the intra-company and inter-company immersive collaboration (through Metaverses) is expected to reach a $35 billion market size.
Since 2014 several companies have announced their plans with such digital worlds. The data below by Accenture shows one such statistic around companies with active Metaverse plans.
UK
The UK too has a very supportive Metaverse market where technology enablers like Immersive Studios, are helping others create their own Metaverses.
The country is also a home to hundreds of Metaverse startups that provide a wide range of services.
