Business News Report
December 09, 2022

Brits are uninterested and uneducated about the metaverse, study shows

In Brief

UK consumers don’t care about the metaverse, which could lead to British businesses missing out on the “tech revolution,” Gowling WLG report suggests.

Countries in Asia, such as China and UAE, are bullish on virtual worlds.

uk metaverse

UK-based consumers don’t care about the metaverse, with only 37% of respondents saying they would take part in virtual worlds. The study by Gowling WLG, titled “The Immaterial World: Navigating Attitudes to the Metaverse Revolution,” investigated the potential of the virtual ecosystem based on consumer views from around the world.

Researchers wrote that the “interest and excitement about the metaverse in the UK is significantly lower than the other markets surveyed.” Brits are uninterested in the new technology, which means the United Kingdom falls behind its global competitors in the metaverse market.

Unlike other sources, Gowling’s study claims the majority of global consumers (76%) understand what metaverse is. However, in the UK, only 2% have a complete grasp of the concept; two-fifths (41%) have “no understanding whatsoever.” In contrast, only 4% of the respondents in the UAE said the same.

Asian countries seem to be the most positive about the metaverse. A mere 3% of respondents in China and the United Arab Emirates think the metaverse won’t become mainstream. Meanwhile, as many as 22% of Brits and 13% of Canadians don’t believe the metaverse will ever be widely adopted. The research also included French and U.S.-based consumers, of whom 5% and 7%, respectively, didn’t think the metaverse would become mainstream.

Source: Gowling WLG

“The heavily secure consumer experience in the UK creates a mindset that is less likely to engage with something new or something that many may feel is a novelty. At the moment, UK consumers have seen little about metaverse successes to drive excitement, rather than hesitancy,”

Davey Brennan, the partner and co-chair of Global Tech at Gowling WLG, suggested.

More than half of respondents (52%) in the UAE believe their careers could be enhanced by the metaverse, in comparison with just 15% in the UK. The report argues that the negative attitude of UK-based consumers means that businesses in the country “could lose out to global competitors whose employees see the opportunities within the metaverse for creativity, productivity, and collaboration.”

To get UK consumers more enthusiastic about the virtual world, entities need to raise awareness of the potential of the metaverse and wipe out any possible misconceptions. However, organizations can’t solve every issue, and it’s most likely that the metaverse will become more mainstream over time. 

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.

More articles
Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.

Hot Stories

Top Investment Projects of the Week 25-29.03

by Viktoriia Palchik
March 29, 2024
Join Our Newsletter.
Latest News

Top Investment Projects of the Week 25-29.03

by Viktoriia Palchik
March 29, 2024

Supply and Demand Zones

Cryptocurrency, like any other currency, is a financial instrument based on the fundamental economic principles of supply ...

Know More

Top 10 Crypto Wallets in 2024

With the current fast-growing crypto market, the significance of reliable and secure wallet solutions cannot be emphasized ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Modular Blockchain Sophon Raises $10M Funding from Paper Ventures and Maven11 Amid Veil of Mystery
Business News Report
Modular Blockchain Sophon Raises $10M Funding from Paper Ventures and Maven11 Amid Veil of Mystery
March 29, 2024
Arbitrum Foundation Announces Third Phase Of Grants Program, Opens Applications From April 15th
News Report Technology
Arbitrum Foundation Announces Third Phase Of Grants Program, Opens Applications From April 15th
March 29, 2024
Top Investment Projects of the Week 25-29.03
Digest Technology
Top Investment Projects of the Week 25-29.03
March 29, 2024
Vitalik Buterin Advocates For Memecoins’ Potential In Crypto Sector, Favors ‘Good Memecoins’
News Report Technology
Vitalik Buterin Advocates For Memecoins’ Potential In Crypto Sector, Favors ‘Good Memecoins’
March 29, 2024