Companies entering the metaverse will have to prioritize digital social responsibility (DSR) to address challenges related to targeting children, addiction, and harassment.
The monthly active metaverse users surpassed 500 million in Q1 2023, with gaming platforms like Fortnite and Roblox attracting a significant user base.
- The metaverse must navigate challenges such as targeting young users, gaming addiction, and amplified social media issues.
- VR is 44% more addictive than flat gaming, a study revealed.
- Companies like Walmart, PacSun, H&M, and BMW are already entering the metaverse with virtual experiences and industrial applications.
- Metaverse strategies demand immersive experiences and selling digital assets, requiring companies to take responsibility for user experiences.
- Businesses should collaborate with metaverse platforms, advocate for user protection, establish industry-wide standards, and develop compliance capabilities.
- A recent survey by Wunderman Thompson, New Realities: Into the Metaverse and Beyond, found that almost 62% of people believe virtual worlds lack inclusivity.
