In 2021 the metaverse grew 500 billion dollars.
By 2023 there will be approximately 1.7 billion metaverse users.
By 2030, this space is destined to become one of the most profitable experiences in the world.
Technology has been the main protagonist these first two months of the year, and it is that a Colombian court surprised by moving to the metaverse and holding the first hearing in this digital space.
A Bloomberg Intelligence report noted that during 2021, the value of the metaverse as a whole was approximately $500 million, however, its value is expected to increase fivefold by 2030.
In this sense, a study by BCG and Mordor Intelligence details that it is estimated that the global size of the metaverse market will be around 59 billion US dollars in 2021 and that it will continue to grow until it touches the threshold of 300 billion in 2024.
Colombian court and the metaverse
Recently, it was revealed that a Colombian court held its first legal trial in the metaverse this month and now hopes to experiment with virtual reality again.
According to what was mentioned by the authorities of that country, it was a two-hour hearing held by the Administrative Court of Magdalena in Colombia, where the participants in a traffic dispute appeared as avatars in a virtual room.
The avatar of magistrate María Quiñones Triana dressed in black legal robes.
With this move, the country is among the first in the world to test real legal hearings in the metaverse with immersive virtual reality to make digital spaces feel more realistic, often with avatars representing each participant.
“It felt more real than a video call,” Quiones told local media, describing the metaverse experience as “incredible.”
“Many people turn off their cameras, you have no idea what they are doing,” he added.
The case, brought by a regional transport union against the police, will now proceed part way into the metaverse, which could include the verdict.
“This is an academic experiment to show that it is possible there… but where everyone consents, (my court) can continue to do things in the metaverse,” he added.
While legal trials have increasingly moved to video conferences hosted by Zoom and Google, few have experimented with the metaverse, a space that Meta (META.O), Microsoft (MSFT.O) and other tech giants are rushing to build. .
Early examples of interviews and meetings in the metaverse have been mocked by often crude and cartoonish visualizations.
Nonetheless, Colombia’s court proceedings on February 15, broadcast on YouTube, went without too many technical issues, save for a few dizzying camera movements and a few distorted movements.
With this, it is increasingly shown that technology continues to help people in many activities, so the use of Artificial Intelligence, as it has become popular in 2023, also continues to grow, especially in industries such as health, economy or even education.
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