Malaysia Urges Industry Players To Explore Metaverse Opportunities

Digital Minister Gobind Singh Deo is urging industry players to explore opportunities presented by creative technologies such as metaverse.

Gobind urged industry players to explore the potential of IP360 Metaverse. “Your experience and feedback are important as we continue to learn about such emerging technology, and unearth ways to utilise it across all sectors.” Gobind said IP360 Metaverse will be open to the public by end of the year. “This will allow users to experience the platform first-hand. The move will also lay the groundwork for the platform’s long-term commercialisation potential.”“Reports by Meta and Deloitte estimate that the metaverse will contribute approximately US$3.01 trillion to global GDP in 2031. Of this, the impact of the metaverse on the Asia-Pacific region could be between US$800 billion and US$1.4 trillion per year by 2035.

“Sub-sectors within the creative technology industry are also thriving. For example, the global animation market size increased by 5% in 2022 to over US$587 billion in 2030,“ he said.

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