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Saudi Arabia’s LEAP Conference drew great interest in the Metaverse and Web3

At the 2023 LEAP Conference that took place in Riyadh, Saudi Arabia last week we saw tech companies showcase their innovation that were focused on the Web3, Metaverse, AI, VR, and Mixed AR. Mastercard, Amazon, Google, Microsoft, and Oculus to name a few all allowed attendees to test out their new technology. There were several sessions and panels that discussed consumers and businesses new outlook towards the metaverse and how various industries could implement the new tech.

From education to retail, it is clear that businesses across different sectors are looking at how they can adopt these new emerging technologies. The metaverse is being considered in higher education to aid students with distance learning so that they can attend virtual labs and lectures. Within retail, companies are collaborating as we’ve seen with tech companies to leave their mark within the metaverse. In the music industry for example, we’ve seen these collaborations in the past with gaming companies and artists. We will see one again as hip-hop artist, Saweetie is set to perform a free virtual Super Bowl Concert in Roblox.

At the LEAP conference, “Keith Jordan, Mastercard Ventures vice president of innovation, discussed the shift of the digital economy into the metaverse, with gamer culture and Gen Z placing more value on digital assets than on physical assets. ‘The digital economy is moving toward the metaverse, but the metaverse is the natural evolution of the internet. So today on the web, we will have about 5 billion people by 2030. We think there is going to be 5 billion people in the metaverse,’ he said. To him, Gen Z and gamers are placing more value on digital assets than they are on physical assets.”

We at Orbit World Metaverse anticipate this consumer shift and want to provide a space for both consumers and corporations. Our platform will be one of the first to offer a digital twin of well-established businesses within the metaverse. To learn more about our upcoming project, click the link here.