Metaverse could soon rule the digital asset world, the new survey reveals

As per a new research study by the API providing company Agora, the developers believe that the Metaverse may become the “most popular” method for buying and selling digital assets in the near future.

The study surveyed 300 developers’ thoughts and ideas about the sector. The CEO and founder of Agora, Tony Zhao, stated:

“Since they will be positioned on the front lines of practically every development that takes place in the metaverse, their thoughts and opinions ultimately carry a great deal of weight.”

Metaverse could become a major way to trade crypto

The survey reports that 57% of developers believe that the Metaverse would be the most prominent way to trade crypto someday. However, every one out of three respondents believed that data privacy and security may be a huge challenge for the sector.

Meanwhile, the company also asked developers if NFTs’ role will continue to grow and become the biggest form of currency in the virtual world. 53% of the developers agreed to the point while 24% disagreed. Moreover, the majority of the developers believe that crypto and blockchain innovation will be important in shaping the future of the metaverse. In addition, over 70% of the respondents agreed that the advancements within the blockchain and crypto sphere would massively affect the Metaverse.

Agora revealed that 55% of the developers believe that Metaverse will replace real-life social interactions in the upcoming years with 72% of the survey participants believing that real-time management will be important for creating a “connected experience” within the Metaverse.

Companies began to set up shop in the Metaverse in March this year. Companies have either begun or announced plans to expand their operations into the virtual world. The virtual world will be used for corporate meetings, as an innovation hub, and as a platform for user involvement, according to the companies. Not only companies, but the government of South Korea has also invested $187 million to create a metaverse project for virtual industrial expansion in the nation.

Recently, the Switzerland-based crypto asset manager 21Shares launched an ETP focused on The Sandbox.