Agora surveys developers about the evolution of metaverse

Agora, a pioneer and leading platform for real-time engagement APIs, announced the results of a commissioned study examining how developers feel about the current state and inevitable evolution of the metaverse. For the study, Agora surveyed 300 developers to get their thoughts on a wide range of topics and ideas relating to the metaverse.

According to the survey, 33% of respondents believe that data privacy and security are the biggest hurdles that the metaverse has to overcome. Other top challenges that metaverse will see include ecosystem interoperability (12%), disinformation and hate speech (10%), community building (10%), accessible tools for developers (9%), monetization (8%), creating a currency and payments ecosystem (7%), identifying users (5%) and lackluster hardware (5%).

When asked which industry will benefit the most or experience the greatest positive impact from the metaverse, the developers surveyed put gaming and entertainment at the top, with 26% each. Telecommunications (12%) and retail/ecommerce (11%) were other top industries that respondents think will be positively impacted by the metaverse, as well as healthcare/medicine (6%), and education, design/manufacturing and workforce each with 5%.

When asked if real-time engagement technology (interactive, two-way digital video and audio) will be the solution to creating a more engaging and connected experience for the metaverse, 72% believe it will be critical, while 5% think it won’t be a prominent factor and 22% feel neutral about it.

One of the biggest questions surrounding the metaverse is whether it will replace real-life, in-person social interactions and experiences. When asked if this would be the case in 5 years, more than half (55%) said that it was likely, while 30% said it was unlikely and 15% felt neutral.

57% of respondents think that the metaverse will become the most popular place to buy, store and trade cryptocurrency, while 18% disagree and 25% feel neutral. When asked if cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse, 70% of those surveyed agree, while 9% disagree and 21% feel neutral.

The respondents were also asked which company will likely own the metaverse in 5 years. A quarter of them think there won’t be a single company who will retain full control, while another quarter believe that Facebook/Meta will continue to be at the forefront. Other responses include Google (15%), Microsoft (12%), Apple (8%) and Amazon (7%).

Tony Zhao, Founder and CEO of Agora, said, “For developers, the metaverse presents a great opportunity. Their skills and expertise are more relevant and urgent than ever before. Our study’s results are a snapshot of how developers feel about the metaverse, why it has become arguably the biggest trend today and what they think the future looks like. Since they will be positioned on the front lines of practically every development that takes place in the metaverse, their thoughts and opinions ultimately carry a great deal of weight.”