Lt. A survey will shape the metaverse Germany, but is not prepared for it - Asia with Japan and China is ahead of us

The Metaverse will have a significant impact on our daily lives in the coming years, but Germany is not yet sufficiently prepared for it. This conclusion comes from a survey by the Federal Association of the Digital Economy (BVDW) eV. According to this survey, 82 percent of decision-makers are of the opinion that Germany is generally not prepared for the new digital ecosystem. At the same time, most of these decision-makers are of the opinion that the Metaverse will be relevant or even very relevant for the economy (53 percent), society (56 percent) and culture (60 percent) in this country in the future. The survey was conducted among 111 specialists and managers from companies and service providers.

🌍 The Metaverse and its meaning

The Metaverse is a term that has become more and more important in recent years. It refers to a virtual world or digital ecosystem that combines elements from the Internet, virtual realities and the physical world. In the Metaverse, users can interact, communicate, work and play as if they were physically present. This virtual reality has the potential to change and shape many aspects of our lives.

🚀 Germany and the Metaverse: catching up to do and challenges

However, the results of the BVDW survey show that Germany still has a lot of catching up to do when it comes to the metaverse. This raises important questions about how the country plans to shape its digital future and what steps need to be taken to reap the benefits of the metaverse while addressing the challenges it poses.

🤔 Why is Germany not sufficiently prepared?

Is Germany prepared for the Metaverse? – Image: BVDW

The fact that 82 percent of respondents believe that Germany is not sufficiently prepared for the Metaverse raises the question of why this is the case. There are several possible reasons for this. On the one hand, it could be due to a lack of awareness and understanding of the Metaverse. Many people in Germany may not yet be sufficiently informed about the potential and possibilities that the Metaverse offers. This could result in decision makers and companies being hesitant to invest in and prepare for this technology.

🛠️ Improving metaverse preparations

One option is to invest in education and awareness. Awareness of the metaverse can be increased through training and information campaigns. Companies could offer training for their employees to ensure that they are familiar with the technologies of the metaverse and can use them effectively.

🌐 Technological infrastructure and legal framework

Another important step is to improve the technological infrastructure. This could include investments in the development of VR and AR technologies, 5G networks and high-performance servers. Improved infrastructure would enable companies and users to use the metaverse more effectively. In addition, a legal framework must be created that guarantees the protection of the privacy and digital identity of users.

🤝 Collaboration and innovation

It is also important to promote cooperation between government, business and civil society. Collective efforts are required to unlock the potential of the Metaverse while ensuring that it meets society's needs and values. This could include the formation of working groups and think tanks to research and shape the metaverse. Ultimately, innovation is key. Germany has a strong tradition of technological innovation, and this tradition should continue in the context of the Metaverse. Companies should be encouraged to develop innovative solutions and applications for the metaverse in order to strengthen Germany's competitiveness in this area.

🌟 Opportunities and potential of the Metaverse

Will the Metaverse shape and influence our lives? – Image: BVDW

Overall, the BVDW survey shows that the Metaverse will be an important part of our digital future. Germany still has some challenges to overcome in order to prepare adequately, but there are also many opportunities and potential. Through education, technological development, legal adjustments, collaboration and innovation, Germany can strengthen its position in the metaverse and reap the benefits of this emerging digital ecosystem.

🌆 The Metaverse and its impact on different areas

The question of the relevance of the Metaverse extends across various areas. In business, the metaverse could open up new opportunities for commerce, advertising and customer interaction. Virtual shops and marketplaces could emerge in which products and services are presented and sold in innovative ways. Companies that invest early in the metaverse and develop innovative solutions could gain a competitive advantage.

In the realm of society, the metaverse could enable new forms of social interaction. People could visit virtual hangouts to meet friends and family, experience concerts, or participate in social activities. This could play an important role, especially in times of physical distance and social isolation.

Culture could also be influenced by the Metaverse. Artists could find new ways to present their work, whether in virtual galleries or through immersive artistic experiences. The Metaverse could help promote cultural diversity and support creative expression.

❗ Challenges and risks of the metaverse

However, it is important not to overlook the challenges and risks of the Metaverse. Data protection and security remain key concerns. Mechanisms must be developed to protect the privacy of users and prevent the misuse of data. The question of digital identity is also of great importance. How can users ensure that their digital identity in the Metaverse is protected and not forged? The issue of intellectual property is also complex. In a metaverse world where digital content and virtual goods have great value, clear rules and rights for creators must be created. This is crucial to maintaining incentives for creative work.

🏙️ Integration of the Metaverse into the physical world

The integration of the Metaverse into the physical world also raises questions. How can the metaverse be integrated into urban space? What impact will this have on the way we work and live? These questions require careful planning and balancing of the interests of different stakeholders.

🤝 Digital future

Germany faces the challenge and opportunity to integrate the metaverse into its digital future. It is important that decision-makers, businesses and civil society work together to harness the potential of the metaverse while ensuring that it meets society's values ​​and needs. This requires comprehensive preparation, investments in education and technology, legal adjustments and open, interdisciplinary collaboration. Overall, the BVDW survey shows that the Metaverse is no longer an abstract concept, but is already on the way to shaping our reality. Germany should actively shape this development and prepare for the opportunities and challenges of the Metaverse in order to play a leading role in the digital future.

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Metropolises like Shanghai and countries like South Korea have already invested considerable sums, running into the hundreds of millions, into promoting the Metaverse economy. This is a clear sign that Asia is moving rapidly towards the future of the Internet. Germany, on the other hand, must not be left behind in this development. In order not to miss the boat and to exploit the potential of Metaverse technology, urgent steps are required.

👨‍💼 The importance of a panel of experts

Mark Waechter, chairman of the Metaverse department in the Federal Association of the Digital Economy (BVDW) and founder of MWC.mobi, emphasizes the need for a committee of experts that deals with the legal, social and economic aspects of the third generation of the Internet, i.e. the Metaverse. These experts should define the framework for the development and use of the metaverse. It is crucial that Germany takes a leading role in this area and sets the course for the future.

🚀 The potentials of the metaverse

The Metaverse, as a virtual universe in which physical and digital realities merge, promises immense possibilities. Not only will it revolutionize the way we work, communicate and entertain, but it will also create new economic opportunities. It is a complex technology, but one with enormous potential. It is therefore essential that Germany deals intensively with this and makes the necessary resources available.

📜 Challenges and questions about the Metaverse

One of the first challenges is to define the legal framework for the metaverse. Since this is a completely new area, many questions need to be answered. How is intellectual property protected? What regulations are necessary to prevent abuse? How are taxes collected in the Metaverse economy? These questions require extensive discussions and expert knowledge to find meaningful solutions.

🌍 The social dimension of the metaverse

Another important point is the social dimension of the metaverse. How will the Metaverse affect our social interactions? What impact will it have on education, culture and healthcare? It is crucial to answer these questions early to ensure that the metaverse positively impacts society and does not have unwanted side effects.

💼 Economic Opportunities of the Metaverse

In addition to the legal and social aspects, the economic side of the metaverse is also of great importance. Metaverse applications can be used in various industries including gaming, education, healthcare, real estate and entertainment. This opens up a wide range of economic opportunities. However, it is important to ensure that German companies and start-ups have the opportunity to grow and compete in this emerging market.

🧠 An expert panel for Metaverse development

In order to answer all of these questions and advance the development of the metaverse in Germany, a committee of experts is crucial. This body should consist of experts in technology, law, economics, social sciences and other relevant disciplines. Together they should lay the foundations for metaverse development in Germany and ensure that we make optimal use of the potential of this technology.

🏢 Building infrastructure for the metaverse

In addition, it is necessary to build the human and institutional infrastructure to promote the development and use of the metaverse in Germany. This includes the training of specialists, research funding and the creation of innovation centers and start-up support. It is important that Germany becomes an attractive place for talent and companies that want to operate in the metaverse.

🎮 Metaverse in the gaming industry

An example that shows how important the metaverse can be for the economy is the gaming industry. There are already successful Metaverse games that attract millions of players worldwide. These games not only create entertainment, but also an industry with jobs and economic value. Germany should seize the opportunity to invest in this area and become a leading player in the metaverse gaming industry.

📚 Education in the Metaverse

Another area where the metaverse could have a big impact is education. Virtual classrooms and learning environments in the metaverse could offer a revolutionary way to make education more accessible and interactive. This could help overcome barriers to education and promote lifelong learning.

🏥 Healthcare and the Metaverse

There is also potential for the metaverse in healthcare. Telemedicine and virtual doctor visits could become a reality in the metaverse and make healthcare more efficient. This could be particularly beneficial in rural areas where access to medical care may be limited.

🏠 Real Estate Market in the Metaverse

In the real estate sector, virtual viewings and virtual real estate markets in the metaverse could open up a new dimension of real estate trading. This could make buying and selling properties easier and the market more transparent.

🎭 The Metaverse in the Entertainment Industry

The Metaverse could also transform the entertainment industry in Germany. Virtual concerts, theater performances and museum visits in the metaverse could offer new creative possibilities and reach a wide audience.

🌟 Shaping the future

The creation of a panel of experts and investment in the Metaverse infrastructure are therefore urgently needed. It's not just about taking advantage of economic opportunities, but also about ensuring that metaverse development in Germany takes place in an ethical and socially acceptable manner.

Germany is facing an exciting challenge and opportunity at the same time. The Metaverse offers the opportunity to transform the way we work, learn, communicate and entertain. It is time to set the course for a successful Metaverse future in Germany and ensure that we play a leading role in this exciting development.

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Metaverse in China – Insight into the XR technology industry – Image: Xpert.Digital

China's Metaverse strategy is much more than just a gimmick in the digital world. It is intended to serve as a catalyst for the country's real economy. Numerous cities and provinces in the Middle Kingdom have already launched budget plans and training programs to fully exploit the potential of the Metaverse in existing industries.

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• The Virtual Future and China's National Strategy for the Metaverse

Metaverse in Japan – Insight into the XR technology industry – Image: Xpert.Digital

The development of Extended Reality (XR) technologies and the Metaverse in Japan is very advanced and is among the leading in the world. Japan, known for its technological innovation, has made enormous efforts in recent years to advance XR technologies and the concept of the Metaverse.

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• XR technologies and metaverse in Japan

The expert survey clearly shows that the metaverse presents significantly more opportunities than risks. 78 percent predict completely new opportunities for e-commerce, 65 percent see Metaverse as a growth engine for the entire economy, as a completely new market can be opened up, and 63 percent expect new impulses in recruiting. On the other hand, there is the investment risk (59 percent) and the fear of a lack of sustainability: 56 percent fear that the Metaverse is just a short-term trend.

🤔 Influence on your own life

When asked whether the Metaverse will have an influence on their own lives, the majority of those surveyed answered in the affirmative. Almost every second person (49 percent) is convinced that it will shape their own life, 37 percent think no, and 14 percent are still undecided.

🌐 Meaning of the Metaverse

“Today, no one can realistically estimate the ultimate significance of the Metaverse. The only thing that is certain is that it will be a driving force that will have a significant impact on society, the economy and politics in the coming years. We have to create the structure for this in Germany today,” says Stefanie Scognamiglio (Xandr a Microsoft Company), deputy chairwoman of the Metaverse department at the BVDW.

📅 Survey period and goal

The BVDW surveyed 111 specialists and managers from digital service companies and companies online between June 28 and July 15, 2022. The aim of the survey was to obtain a picture of the social mood on the topic of Metaverse. On the one hand, the results provide an indicator of whether the metaverse will change our society, politics and economy and, on the other hand, an indication of whether and how companies are dealing with the topic. In addition, conclusions can be drawn as to which industries the topic is or will be highly relevant to.

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Find the right Metaverse agency and planning office such as a consulting firm - Image: Xpert.Digital

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