Block announced that in Q4 2023, Cash App generated $66 million in Bitcoin gross profit up 90% year-over-year.
The cryptocurrency market has had a volatile time since leading tokens including Bitcoin saw a peak last year November and the market has struggled to maintain stability since. Despite this, the Metaverse and related opportunities and features are interesting to customers and brands across industries.
Research from a survey by Capgemini looks into how immersive experiences in the online space, including Metaverses and digital platforms, are impacting customer experience and service. According to the results, nearly 60% of the 8000 consumers surveyed mentioned that they believe immersive experiences can be impactful and prove as a valuable feature when selecting and buying a product or service from a company. More than 75% of the consumers also anticipate that their interactions online with both brands and peers will be influenced be the Metaverse in the future.
A massive 93% of all respondents in the survey stated that they were interested in the Metaverse and what it will be able to offer, with 51% of those saying that they would actively use the Metaverse if accessibility wasn’t a limitation.
Looking at 1,000 organisations and brands, 70% believe that the Metaverse and online immersive experiences will be able to offer a market differentiator in how customer service and overall customer experience can be enhanced.
Challenges for Metaverse adoption
According to the immersive experiences offer head Charlton Monsanto, the Metaverse that directly deals with the customer still needs to work some things out before adoption can be expected. These issues include a problem of limited accessibility and privacy. He noted:
“The potential of the metaverse is transformative and consumer curiosity remains high.”
Currently, limited education and accessibility stand in the way for brands that are tech-forward to communicate comprehensively with their consumers. As noted in the report, “there are a variety of applications, both at the consumer end and in internal operations, large-scale immersive technologies implementations are limited, and Metaverse applications are only now emerging.”