How to use the metaverse? Sortlist Study says: If not for entertaining, don’t bother
Sortlist Insights

How to use the metaverse? Sortlist Study says: If not for entertaining, don’t bother

5.00/5(3)

TL;DR: Users don’t trust the metaverse enough to consider it beyond an entertainment platform.

Long an idea reserved to science fiction writers, the metaverse has now come to take the tech and business world by storm.

At Sortlist we are used to managing an endless supply of data that explain the trends in the marketing world. This means that we could not simply watch the metaverse unfold.

That is why we decided to survey people across Belgium, Germany, Spain, France, and the Netherlands, and understand what they expect from this virtual world, see what their thoughts are on how to use the metaverse, if they want to participate, and if it is really a thing of the future or just another trend.

Our latest study has found that:

  • More than half of the people would not trust a virtual world.
  • Almost 70% of respondents understand what the metaverse is.
  • The majority sees virtual worlds as places to “escape the real world.
  • Women (91.43%) are more aware than men (88.54%) about what the metaverse is.
  • NFTs are still a matter of debate for people; 61% of respondents would not think of investing in them.
  • Almost 60% of the general public said they are aware of what NFTs are. Of these, men are more knowledgeable than women (76% vs. 46%).
  • The metaverse represents a way to escape the real world for women (58%), whereas it represents the future for men (53%).
  • Users older than 54 knew that the metaverse was a virtual world (63%) more than did younger users aged between 25-34 (59%).

The people respond: What is the metaverse?

Our idea behind this report was fueled by a simple question: do users really know what the metaverse is?

We thought it appropriate to begin surveying the general public about their perception of this virtual world, and from there, branch to specific questions that could help paint a wider picture.

Do users know that Facebook changed its name?

Talk about a newsworthy nugget: 65% of users surveyed across Europe were perfectly aware of Facebook’s name change. 65.63% among the men surveyed knew the company had done so, compared to 63.81% among women.

It correlates with the results of our previous survey about metaverse for business, in which we found that most businesses understood that the virtual world was aimed mostly at men.

Another curious insight that came out in our study reveals that the general public has a better understanding than marketers do on what Facebook’s new company name is.

We left an open question to let users and marketers write what they thought Facebook’s new name was.

Almost 90% of the general public mentioned “Meta.” In contrast, only 81% of marketers mentioned “Meta.”12% of them added “I don’t know/I am not sure” as an answer, which was nowhere seen in the general public survey.

In changing their name, Meta also secured for themselves a new goal that goes beyond Facebook’s mission of connecting people.

Their own website says as much: “Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.”

Understanding the metaverse

Our survey indicates that this vision has apparently been transparent to users, as 66.67% of respondents said they understand what the metaverse is.

Moreover, users in Spain are most knowledgeable about the metaverse, since almost 80% confirmed they knew what it is. Users in France are the least knowledgeable; barely over half of the respondents (55%) had an idea about it.

It seems there is still confusion between the meanings of both “Meta” and “metaverse.”

When asked to define the metaverse, as in, the virtual world, just over half of users got it right. However, that didn’t stop an important 26% of them saying that it was “Facebook’s new name.”

A tiny fraction also thought the metaverse is “linked to Web3” and is a “new Google.”

IdeaPerception
It’s a virtual world54.32%
It’s Facebook’s new name25.93%
All of these7.41%
It’s linked to Web35.35%
It’s a crypto4.12%
It’s a new Google2.88%

In this regard, the metaverse does not come without its shares of surprises.

Users older than 54 knew that the metaverse was a virtual world (63%) more than did younger users aged between 25-34 (59%).

swc-125
SWC Partnership
London, United Kingdom
5/5 - 9 recommendations
Advertising & DisplayDefaultDigital & Marketing StrategyMarketingPublic Relations
Discover the agencyarrow_forward
havas1
Socialyse Belgium
London, United Kingdom
5/5 - 0 recommendation
Marketing
Discover the agencyarrow_forward
op1
POP Communications
Dubai, United Arab Emirates
5/5 - 2 recommendations
MarketingPublic Relations
Discover the agencyarrow_forward
place1
Sandpaper
Dubai, United Arab Emirates
5/5 - 5 recommendations
Digital & Marketing StrategyMarketingPublic RelationsWebsite Creation Software
Discover the agencyarrow_forward
roots1
Grassroots creative agency
Dubai, United Arab Emirates
5/5 - 10 recommendations
Digital & Marketing StrategyMarketingWeb DesignWebsite Creation Software
Discover the agencyarrow_forward
evol1
EvolveDigitas
Singapore, Singapore
5/5 - 5 recommendations
Advertising & DisplayDigital & Marketing StrategyMarketingPublic RelationsWebsite Creation Software
Discover the agencyarrow_forward
ab1
ab4.systems
Singapore, Singapore
5/5 - 26 recommendations
Advertising & DisplayDigital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
blen1
Creative Blend
Riyadh, Saudi Arabia
5/5 - 1 recommendation
Advertising & DisplayDigital & Marketing StrategyMarketingPublic RelationsWebsite Creation Software
Discover the agencyarrow_forward
di1
Dice Marketing and Advertising
Riyadh, Saudi Arabia
5/5 - 1 recommendation
Advertising & DisplayMarketingWebsite Creation Software
Discover the agencyarrow_forward
your
diARK
Bucharest, Romania
5/5 - 3 recommendations
Advertising & DisplayMarketingPublic RelationsWeb DevelopmentWebsite Creation Software
Discover the agencyarrow_forward
we1
Destinare Marketing Group
Doha, Qatar
5/5 - 1 recommendation
Advertising & DisplayMarketingWeb DevelopmentWebsite Creation Software
Discover the agencyarrow_forward
artx1
ArtX Pro
Karachi, Pakistan
5/5 - 3 recommendations
Digital & Marketing StrategyMarketingWeb DevelopmentWebsite Creation Software
Discover the agencyarrow_forward
redoy1
Redoya – Smart digital branding agency
Lahore, Pakistan
5/5 - 1 recommendation
Digital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
maroon2
Maroon studio sdn bhd
Kuala Lumpur, Malaysia
5/5 - 0 recommendation
Advertising & DisplayDigital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
wave
Caspian Digital Solutions
Petaling Jaya, Malaysia
5/5 - 5 recommendations
Advertising & DisplayDigital & Marketing StrategyMarketing
Discover the agencyarrow_forward
002
Poixel
Kuwait City, Kuwait
5/5 - 2 recommendations
Digital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
56
Lokal Vokal
Central Jakarta, Indonesia
5/5 - 0 recommendation
Advertising & DisplayDigital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
45
ChubbyRawit Digital Marketing Agency
South Jakarta, Indonesia
5/5 - 10 recommendations
Advertising & DisplayDigital & Marketing StrategyMarketingWeb Development
Discover the agencyarrow_forward
30
FMG
West Jakarta City, Indonesia
5/5 - 5 recommendations
Advertising & DisplayMarketingWeb DevelopmentWebsite Creation Software
Discover the agencyarrow_forward
06
Taksu Digital
Hong Kong, Hong Kong
5/5 - 8 recommendations
Digital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
04
DSIGN Branding
Hong Kong, Hong Kong
5/5 - 2 recommendations
Digital & Marketing StrategyMarketing
Discover the agencyarrow_forward
veloma
heydaysss
Hong Kong Island, Hong Kong
5/5 - 6 recommendations
MarketingWeb Development
Discover the agencyarrow_forward
ki
4HK
Hong Kong Island, Hong Kong
5/5 - 5 recommendations
Digital & Marketing StrategyMarketing
Discover the agencyarrow_forward
gendarme
Fisheye Solutions
Giza, Egypt
5/5 - 3 recommendations
Digital & Marketing StrategyMarketing
Discover the agencyarrow_forward
citrus
sendian creations
Al Maadi, Egypt
5/5 - 6 recommendations
MarketingWeb Development
Discover the agencyarrow_forward
bonbon
INETWORK Middle East
New Cairo City, Egypt
5/5 - 8 recommendations
Digital & Marketing StrategyMarketingWebsite Creation Software
Discover the agencyarrow_forward
ses
WebbingStone
6th of October City, Egypt
5/5 - 13 recommendations
Content MarketingDigital & Marketing StrategyMarketingWeb Development
Discover the agencyarrow_forward
jjjjjjj
Indigo Media
Qism El-Nozha, Egypt
5/5 - 0 recommendation
Marketing
Discover the agencyarrow_forward
aaaaaa
Ad Value Marketing Agency
Cairo Governorate, Egypt
5/5 - 2 recommendations
Marketing
Discover the agencyarrow_forward
lilliliil
O2 Media Group
Giza, Egypt
5/5 - 14 recommendations
Digital & Marketing StrategyMarketingWeb Development
Discover the agencyarrow_forward
hihi
New Step Media
Ad Doqi, Egypt
5/5 - 10 recommendations
Marketing
Discover the agencyarrow_forward
capture789
Essencius A/S
Copenhagen, Denmark
5/5 - 4 recommendations
Marketing
Discover the agencyarrow_forward
Jaroudi Media
Manama, Bahrain
5/5 - 0 recommendation
Digital & Marketing StrategyMarketing
Discover the agencyarrow_forward

Metaverse adoption: up for debate

The numbers above show a clear picture of the current perception of the metaverse by general users, a perception that can now be analyzed in a deeper way to see if it correlates with metaverse usage.

What users expect from the metaverse

According to our survey, people’s thoughts on how to use the metaverse are all related either to escapism or the avant-garde. An important 20% said a virtual world is “a way of escaping the real world,” followed by 17% that said it is the future and 16% that see it as a way of distraction.

Below are the top uses that people expect from the metaverse:

Use%
A way of escaping the real world19.55%
The future16.92%
A way of distracting yourself15.60%
A new way of interacting13.35%
Full of opportunities12.78%
Dangerous9.77%
A new way of doing business9.59%
Useless2.44%

The metaverse represents a way to escape the real world for women (58%), whereas it represents the future for men (53%).

For all the talk about virtual worlds having an enormous business impact, users seem only focused on one way of seeing it: as a means for entertainment.

This could be a reason why companies seem to have it backwards: a quarter of the brands surveyed for our business study said they expect metaverse initiatives to yield profit above all else.

Is the metaverse a good thing?

Our company survey showed that businesses seem to be quickly jumping aboard the metaverse train, but their hopes may be short-lived, as the majority of the users we polled remarked that they would not trust a virtual world.

This number highlights the most important issue that mass adoption of the metaverse has to confront.

Out of all the age groups, only users from 25 to 34 years old said they would trust a virtual world, more than those who would not. The starkest difference is shown among users older than 54, in which only 12% said they would trust them and 88% said they would not.

In other words, older users know enough about the metaverse to decide not to trust it, and conversely, younger users seem to be more optimistic despite knowing less.

In essence, it seems that for all the knowledge about the virtual world and the entertainment value found through its doors, most users aren’t ready to knock just yet.

Cybersecurity is to companies what trust is to users

Our business survey revealed that one of the main issues of concern for businesses is cybersecurity. It stood out as the main doubt that companies have with the metaverse, with 38% of brands worried about their business’ security and data, and those of their customers’.

NFT investment

We can see the pattern described above when discussing non-fungible tokens (NFTs) inside the metaverse.

Just like in our brand study about the metaverse, the numbers, in principle, seem optimistic for those creating NFTs on sale in the metaverse. But a closer look at the data tells a different story.

NFTs: Public perception

Almost 60% of the general public said they are aware of what NFTs are. Of these, men are more knowledgeable than women (76% vs. 46%).

This is consistent with the findings of our brand study. In it, companies see that the best approach on how to use the metaverse is to aim initiatives mostly at male users.

Again, in principle this is good news, especially considering that NFTs are among companies’ top investments inside the virtual playground.

Is it worth investing in NFT?

And yet, the same trust issue regarding virtual worlds is replicated when it comes to NFTs. Exactly 60.5% of respondents would not think of investing in these assets.

Users in Spain and the Netherlands seem to be the most avant-garde in terms of NFT investment, since they present the highest index of users who would consider it. Both countries are equally split, with 50% of users in each agreeing they would consider investing.

Conversely, it is in Belgium and France that the gap is widest, countries in which users are reluctant to invest in NFTs. In Belgium, only 17% of respondents would consider them and 83% would not, while in France, only 29% would consider it and 71% wouldn’t.

Germany stands at a midpoint, manifesting the smallest difference between users who would consider NFT investments (45%) and those who would not (55%).

metaverse investment

As a consequence, when asked if they would see NFTs as reliable investment opportunities, most users were hesitant about it. Only 17.7% said they were considering potential investments in NFTs.

Conclusions: Will the metaverse fail?

As of this writing, there is much being said about how to use the metaverse, and much yet to be said. The studies we have carried out at Sortlist demonstrate that both brand and user seem to be heading in directions that aren’t always aligned, making the synergy between both difficult.

Despite seeing companies targeting the right group (young men who we saw are the most interested), the metaverse still needs to tackle the issues of trust and cybersecurity correctly for it to succeed.

Our user study tells us that users simply aren’t ready to treat the metaverse as anything other than an entertainment tool, and even so, they are wary of providing their personal data freely in this virtual world.

Facebook is no stranger to data concerns. However, with the power of its brand behind virtual worlds, the metaverse could well move quickly from hype to a daily reality.

Methodology

The study was conducted between February 24th and March 1st, 2022, among 1000 respondents above the age of 18 across Belgium, Germany, Spain, France, and the Netherlands. In the study, we surveyed business owners, the public, and marketers with the aim of finding out how people are reacting to the metaverse. The responses are anonymous.

Comments (0)

Publish a new comment


0/500

Your email address will not be published

close

Access our exclusive content!

email