The evolution of the metaverse means it is gradually becoming a part of our daily lives. However, countries are adopting this new technology at different rates.
However, countries at the forefront of the metaverse technology adoption have applied it in areas such as blockchain financial startup services, fixed broadband speeds, and reduction in the cost of high technology exports.
However, research shows the Netherlands to be at the top of the ranking order for metaverse adoption globally, with a metaverse score overall estimate of 7.74. At the same time, Switzerland is positioned in second place with a score value of 7.61, accompanied by Lithuania at 7.39, Malta in fourth place at 7.31, and France sitting in the fifth position with 6.96.
On the other hand, the United Kingdom holds the seventh position as a metaverse-adopting country with a total value of 6.77. In contrast, the United States Of America holds the number twelve position with a total score of 6.32.
Analysis Of The Metaverse Technology
Considering the grading in descending order of metrics, the United States has the most excellent internet speed at 167.37 Mbps. This shows that the US is the most proactive country as regards broadband connectivity.
However, based on the cost metric, Romania recorded the least internet connectivity costing about $9 per month, while Cyprus shows an upward trend as regards blockchain startups. These studies showed the lack of regulatory policy as regards cryptocurrency in Cyprus, with enormous blockchain-related firms.
With 34,082 Google searches affiliated with millions of people, Cyprus has recorded the most searches related to the metaverse. Amongst all, the Republic of Ireland is considered the most in terms of high-tech exports, listed at $8,450 per capita.
As a result, the country engaged some high-level tech companies, which are metaverse driven. Furthermore, studies show that the metaverse is still a growing technology.
Hence, it is bound to have certain risks which can be prevented, provided developers can anticipate such risks early enough. However, researchers also noted that many might exploit this new technology promoting it as a get-rich-quick scheme.
But that’s the exact opposite of its purpose. Hence, the report recommended issuing regulations to prevent this from happening.
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