Majority of US Consumers Say No to Meta Owning Metaverse Data: Survey

A survey of 1,000 US consumers on growing interest in the Metaverse revealed some interesting results. In a survey commissioned by non-f...



A survey of 1,000 US consumers on growing interest in the Metaverse revealed some interesting results.

In a survey commissioned by non-fungible token infrastructure and metaverse provider Advokate Group, 87% of respondents preferred a decentralized metaverse on a blockchain to some of the megaprojects planned by tech giants. This became more evident when 77% of respondents shared their concerns about Facebook’s entry into the metaverse, especially since it owns the users’ metaverse data.

Facebook’s tainted past with mishandling private user data has already dismantled its early plans to launch a stablecoin called Diem. The stablecoin project has come under intense scrutiny from the US Congress, and the the project finally came to an abrupt end. A similar concern has begun to grow around Facebook’s multi-billion dollar metaverse aspirations.

Respondents surveyed were split on when the Metaverse might become mainstream, with 20% of respondents believing it might take 1-2 years while 49% said it might take up to 3-6 years. Gaming was the primary choice to spend time in the metaverse followed by socializing. 55% of respondents said they would spend more than three hours a day in the metaverse.

Related: Tusk Ventures CEO: Don’t Repeat Social Media Mistakes With Metaverse Regulations

A majority of respondents also showed a strong interest in earning money by playing games. With play-to-win models being the latest trend, 93% of respondents said they would spend more time playing games if it could earn minimum wage. Some 64% said they would spend more than three hours if they made real money and 87% would switch to full-time gaming if the pay was good.

The metaverse as a concept only got great in 2021 and now all the major tech giants, be it Apple, Facebook or Google are looking to get started or invest in the ecosystem. However, a significant number of crypto proponents oppose the entry of cash-rich centralized companies, as they believe the concept of decentralization would take a back seat.