HomeDigital Platforms & APIsConsumers fear they’ll get mugged in the Metaverse – report

    Consumers fear they’ll get mugged in the Metaverse – report


    They won’t go into the metaverse without a blockchain

    The metaverse is perceived as a potential crime scene where consumers will be mugged for their confidential informant by data merchants who keep issuing the duplicitous warning that they “value your privacy”. That is one of the revelations from Accenture’s Technology Vision 2022 report surveyed 1000 British consumers and over 150 senior British business leaders about their views on ‘the next era of the internet.’ 


    The report found that a third of UK consumers have never even heard of the metaverse but by contrast two in three UK business executive think the metaverse will have a major positive impact on their organisation in the future. Within that margin of variation lies the key to the successful exploitation of the metaverse by mobile operators, according to Nick Rosa, Metaverse and Extended Reality Lead at Accenture. There is much confusion over the undefined quantity that is the Metaverse.  According to the report a fifth of UK business leaders expect the metaverse to have a ‘transformational impact’ on their organisation, so presumably four fifths (80%) don’t.


    Of the minority who are believers, many are already experimenting with metaverse technologies. Though only 20% of businesses believe in the metaverse, Accenture claimed that 38% of UK businesses are piloting experiences in it. People don’t realise they are already using the thing they are afraid of. While some metaverse applications have 50 million users a day, the term causes confusion over the range of experiences it can generate, according to Rosa. “Businesses must do a better job of educating consumers and winning their trust on the metaverse for their investments to pay off,” said Rosa.

    Virtual reality

    A third of British consumers are interested in virtual reality for socialising (33%) and online shopping (31%) in the next five years. For Generation Z respondents, a third would also be interested in attending entertainment events, such as concerts, in virtual reality. Three quarters of consumers want more control over their data and a single digital connection to all their accounts across streaming platforms, social media or even work. Three quarters of UK organisations are exploring Web3 technologies like blockchain and tokenisation with these confidence inspiring improvements in mind.

    Trust issues

    Trust is the key issue and if telcos can earn that they could crack the metaverse opportunity, according the report. The three most reassuring features of the metaverse will be honesty, visibility and ease of use because consumers hate juggling multiple accounts and losing control of their private information, which is what earlier incarnations of the Internet brought. “Businesses can learn a lot from the dot com era and build the next phase of the internet in a way that addresses these frustrations,” said Rosa.

    The Nth Floor

    Researchers working on Accenture’s Technology Vision 2022 report surveyed 1000 British consumers and over 150 senior British business leaders about their views on ‘the next era of the internet.’ Accenture operates its own metaverse, known as the Nth floor, where the company’s people participate in new hire orientation and immersive learning or meet and socialise as teams. This year, the company expects 150,000 or more new hires will work in the metaverse on their first day – 3,000 in the UK have already participated.