New Delhi, July 31 (IANS) Metaverse (the virtual 3D environment in which the physical and digital worlds converge) users will surpass 600 million by 2026 due to generative artificial intelligence (AI), a new report has shown.
Presently, there are already over 300 million active users in Metaverse video games and virtual world platforms, according to BanklessTimes.
In recent years, generative AI has gained significant attention due to its remarkable capabilities.
In contrast to traditional AI, which is based on explicit rules, it can generate content, images, audio, and even entire virtual worlds on its own.
Its ability to build and populate virtual environments with interactive elements, lifelike avatars, and immersive experiences positions it as a driving force in Metaverse adoption, the report said.
"Generative AI marks a pivotal moment in the evolution of the Metaverse. It empowers users to co-create and personalise their virtual experiences, bridging the gap between imagination and reality. As we witness its integration within Metaverse applications, it is no longer a question of 'if,' but 'when' the Metaverse will become an integral part of our daily lives," said BanklessTimes Crypto expert Alice Leetham.
Moreover, the report mentioned that the convergence of generative AI and the Metaverse can transform numerous industries.
Traditional gaming, for example, is set to evolve into more open-ended, player-driven experiences as more users flock to the Metaverse. Entire virtual economies could emerge, allowing for the creation and exchange of digital in-game assets with real-world value.
Meanwhile, Metaverse and Web3 market opportunity in India is expected to grow at an annual growth rate of nearly 40 per cent, with the potential to become a $200 billion industry by 2035, according to the international management consulting firm Arthur D. Little.
Metaverse is projected to become a $13 trillion opportunity globally by 2030. It is estimated that about 8 per cent of the $160 trillion global GDP by 2030 will come from Web3 and Metaverse.