At the beginning of the year, PwC analysts conducted a survey of 150 executives from companies operating in education technology, media and telecommunications, financial services, healthcare, retail, industrial goods and automotive. 70% of respondents said they plan to integrate the Metaverse into their operations.
More than 60% of top managers surveyed said they have a good understanding of the metaverse, while 13% already know all the ins and outs and know how to use the benefits. Survey respondents believe that the metaverse ecosystem in India is still in its infancy, with businesses exploring the potential, but interest in virtual worlds is growing rapidly. 47% of respondents suggested that the metaverse will become an integral part of the business within two to three years, 25% expressed optimism that this will happen as early as next year, and 21% in the next five years.
PwC analysts encouraged businesses to develop cyber protocol guidelines and guidelines for communities to build customer confidence in the metaverse and prevent financial crime. Consultants warn of complexities with the tax regime as people increasingly acquire digital assets through the metaverse.
“Metaverses open up opportunities for organizations to innovate, improve communication with customers and employees. This technology has the potential to improve business productivity,” said Sudipta Ghosh, Head of Product Development at PwC India.
According to a recent CoinWire survey, the majority of investors believe that the Metaverse has the potential to change the way people live and experience entertainment.
Source: Bits
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