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The metaverse, a bold new frontier for technology and digital culture where users can interact, transact and create new things for themselves, has generated both excitement and apprehension among the general public. Moreover, the push by tech giants like Mark Zuckerberg has further intensified the firestorm of discussion surrounding the metaverse.
As the lines between reality and the digital realm continue to blur, the metaverse stands at the forefront of this rapidly evolving landscape, promising to be the next big thing — or perhaps a mere pipe dream. But where does the world truly stand on this revolutionary concept?
CoinKickoff recently conducted a fascinating study, delving into millions of tweets about the metaverse to uncover a global map of acceptance and rejection.
Asian countries embrace the metaverse
CoinKickoff's findings revealed that Vietnam leads the pack in terms of enthusiasm for the metaverse, with 56.8% of metaverse-related tweets from the country expressing positivity and excitement.
This isn’t surprising, given that a 2022 Deloitte analysis found Vietnam to be one of the most active players in Web3 space — where they estimate the annual economic impact of the metaverse in Vietnam could reach as high as US$17 billion by 2035, or upwards of 2.4% of the country’s GDP. To put this in perspective, consider Australia's tourism industry — an important economic sector — was around 3.1% of the Australian GDP prior to the pandemic (currently 1.6%).
But it's not just Vietnam jumping on board the metaverse hype. Southeast Asian countries as a whole like the Philippines and Indonesia, as well as Ukraine and Nigeria, are also largely supportive of the metaverse, according to the study.
This positive sentiment carries northwards to countries like China, where the popularity of the metaverse is particularly notable. According to a different study conducted by Newzoo, Chinese consumers in particular are eagerly anticipating the possibilities of interacting with digital gaming worlds, with a staggering 78% expressing interest. 82% also expressed optimism about the potential benefits of the metaverse, sharply surpassing those in Western countries.
Metaverse criticism in the West
CoinKickoff found that Ireland was the most against virtual worlds, with 14.4% of metaverse-related tweets coming from there expressing negative views. In fact, Western countries in general have the strongest opposition to the metaverse, with a higher number of negative tweets originating from Ireland, Denmark, New Zealand, Canada and the United States than any other.
Interestingly, Americans were very on the fence. Just 7% of people in a survey said that the concept makes them “more excited” about the future, and 58% of respondents declared their ambivalence toward the metaverse.
It's also worth noting that despite the indifference or outright opposition, CoinKickoff still managed to find positive sentiment in Twitter posts regarding the metaverse in all 50 American states. From the sunny beaches of Florida and Hawaii to the bustling metropolis of California, the US has no shortage of states that are keen to explore the possibilities of the metaverse.
Metaverse's chance to make an impact
If anything, CoinKickoff's study, highlights the fact that no country can be defined by a single perspective; after all, countries aren't monolithic entities. Some individuals will have strong views about the metaverse, whether positive or negative — but many will still remain impartial.
And so in the years ahead, those propagating and innovating with the metaverse will have the chance to make a profound and lasting impact, shaping the opinions of those who remain on the fence about whether this technology is worth their attention. This will certainly be easier in countries like Vietnam where the public is already heavily receptive, assisting the trajectory of both adoption and innovation. However, if the technology is truly worthwhile, there’s no reason it can't be accomplished even in places like Ireland.
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