report, Telecom News, ET Telecom

New Delhi: Metaverse does not yet exist but 522 mobile apps are already using the buzzword to gain new users and earn more money through various app stores. Non-fungible tokens (NFTs) are now the second most mentioned term in conjunction with the metaverse, according to a new report on Friday.

Data from market intelligence platform Sensor Tower reveals that Facebook’s rebranding to Meta has led to an increase in apps adding “metavers” to their descriptions or names.

To date, 552 apps include the keyword “metaverse” in their description or titles. Crypto was most often associated with the Metaverse, and about 23% of Metaverse apps mentioned the term.

“NFTs (non-fungible tokens) have become the hub of million-dollar transactions, and social media giant Facebook has bet big on the metaverse with its Meta rebranding. That excitement has continued into 2022” , says the report.

Data from Sensor Tower App Intelligence reveals that globally, 86 apps added metaverse references to their title or description on the App Store and Google Play from November 2021 to January 2022.

NFTs were the second most mentioned term in conjunction with Metaverse, while AR and VR accounted for 11% and 9% respectively.

Mobile game publishers showed the most interest in joining the metaverse early, accounting for 19% of apps with the keyword in their title or description.

“Microsoft and Take-Two have both recently signaled interest in NFTs and the Metaverse as part of the momentum behind their acquisitions of Activision Blizzard and Zynga, respectively,” the report states.

Apps in the Finance category closely followed Games as having the second highest number of apps with the keyword, and the Social category saw the third highest number of apps referencing “metaverse”.

In the NFT space, some brands have seen success – like Disney with its partnership with VeVe Collectibles – while others have faced backlash from their audiences.

“It’s looking more and more like navigating public opinion as well as cutting-edge applications of new technologies – and adding ‘ametavers’ to everything – will be key to the success of companies hoping to make their mark. in an increasingly meta-oriented industry,” the report notes.

Casey J. Nelson