A Deloitte report, “The Metaverse in Asia: Strategies to Accelerate Economic Impact,” estimates that the impact of the metaverse on Asia’s GDP could range from US$0.8 to US$1.4 trillion per year, roughly between 1.3 and 2.4% of total annual GDP by 2035.

While there is no universally agreed definition, the metaverse is envisioned as a highly immersive virtual world where people come together to socialize, play, and work. The development of the metaverse is supported by several underlying technologies, including hardware devices, computer and communication networks, real-time 3D technology, artificial intelligence, and blockchain distributed ledger technologies.

According to the Deloitte report, the metaverse has the potential to transform…