As per a new study, developers believe that the metaverse will become the “most popular” way to buy and sell cryptocurrency someday.
The study, commissioned by API provider Agora, polled 300 developers on their perspectives on the metaverse. The founder and CEO of Agora Tony Zhao stated that “Because they will be on the front lines of virtually every metaverse development, their thoughts and opinions will ultimately carry a great deal of weight,”.
According to the survey, 57 percent of developers believe that the metaverse will one day be the most popular way to trade cryptocurrency. However, one out of every three respondents believes that data privacy and security will be a significant challenge for the metaverse.
Meanwhile, the surveyors asked developers if the role of nonfungible tokens will continue to grow and become the most important form of currency in the metaverse. The majority of respondents (53%) agreed, while the minority (24%) disagreed.
According to the researchers, the majority of developers believe that crypto and blockchain innovation will be “critical to shaping the future of the metaverse.” 70% of respondents agreed that advancements in the blockchain and cryptospheres would have a significant impact on the metaverse.
Real-time engagement, according to 72 percent of survey respondents, will be critical for creating a “connected experience” within the metaverse. Furthermore, 55 percent of participants believe that in the near future, the metaverse will replace real-life social interactions.
Companies began to set up shop in the metaverse in March 2022. Firms have either launched or announced plans to expand their operations into the virtual world. The companies intend to use the metaverse for business meetings, as an innovation hub, and as a platform for user engagement.