Metapets: The Future of Pet Ownership
The Metaverse is a large collection of modern technologies that often involves human interaction and immersion in cyberspace. Virtual Reality, gaming, avatars, NFTs, and many more are key components of this billion dollar technological space that is only expected to grow in the future. In 2020, the Metaverse market was worth $47.69 billion, and is expected to have a compound annual growth rate (CAGR) of 43.3%. The success and revenue of the Metaverse can be credited to an increased focus on the combination of the digital and physical world through an online platform, as well as the loyalty and participation of dedicated users.
Who will lead the Metaverse race? Despite the challenges of data privacy, security, identity, and potentially unreliable payment systems, there are many programs that continue to successfully attract users and provide services within cyberspace. Ready Player Me, Decentraland, and Horizon Worlds are popular platforms where users can connect with others, play games, trade assets, and create entire worlds within the Metaverse. More specifically, pet ownership is a niche area within the Metaverse that continues to grow exponentially in popularity.
Metaverse platforms like Metapets, MetaGochi, Axie Infinity, and Cryptokitties, give users the chance to customize, own, and care for a pet from the comfort and ease of their own device. Common requirements of pet ownership like cleaning, training, feeding, and walking can all be made simple through the Metaverse, as Metapet ownership allows for more freedom and less responsibility than physically owning a pet. Thanks to the development of these technologies, pet lovers all over the world can spend more time with their animals and benefit from a multitude of other services that the Metaverse has to offer.