Majority of US consumers say no to Meta owning metaverse data: Survey

A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results. 

In a survey commissioned by nonfungible token and metaverse infrastructure provider Advokate Group, 87% of respondents preferred a decentralized metaverse on a blockchain over some of the mega projects planned by tech giants. This became more evident when 77% of the respondents shared concerns over Facebook’s entry into the metaverse, especially since it owns users’ metaverse data.

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Facebook’s tainted past with the mismanagement of private user data has already dismantled its early plans of launching a stablecoin called Diem. The stablecoin project faced heavy scrutiny from the U.S. Congress, and the project eventually came to a crashing end. A similar concern has started to grow around Facebook’s multi-billion-dollar metaverse aspirations.

The surveyed respondents were divided in terms of when metaverse could become mainstream: 20% of respondents believe it could take one to two years while 49% said it could take up to three to six years. Gaming was the primary choice of spending time in metaverse followed by socializing. Fifty-five percent of the respondents said they would spend more than three hours a day in the metaverse.

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A majority of the respondents also showed a keen interest in making money while playing games. With play-to-earn models being the latest rage, 93% of the respondents said they would spend more time playing games if it could make for the minimum wage. Some 64% said they would spend more than three hours if they made real money and 87% would switch to full-time gaming if the pay was good.

Metaverse as a concept only became formidable in 2021 and now every major tech giant, be it Apple, Facebook or Google, is looking to launch or invest in the ecosystem. However, a significant chunk of crypto proponents is advocating against the entry of centralized cash-rich firms, as they believe the concept of decentralization would take a back seat.