Quick Summary
- Oxford University Press has selected the word “metaverse” as one of the top three contenders for its Word of the Year competition.
- OUP formally launched the competition between the top three words on November 22nd.
- Metaverse Technologies to Potentially Touch $5T by 2030, Says McKinsey.
A competition in Oxford pits “Metaverse,” “Goblin Mode,” and “#IStandWith” against each other.
As a result, the word “Metaverse” will be competing with the words “Goblin Mode” and “#IStandWith”. The term originated in 1991 and Oxford English Dictionary recorded it in 1992 citing its use in Snow Crash (a science fiction novel authored by Neil Stephenson, as per the video). The term was used more frequently in October this year than it was in October last year, Oxford reports.
The video mentioned that additional work and lifestyle-related operations occurring in virtual reality atmospheres may cause the development of more discussions over the feasibility and ethics of the future of the online world. For the other two WOTY candidates, “Goblin Mode” became widely used after the COVID-19 lockdown. To describe the state where one prefers to do things according to one’s desires and refuses to return to normal.
The time for the winning announcement has not been disclosed by Oxford. A Twitter poll conducted by OUP indicates that sixty-three percent of 929 people voted in favor of Goblin Mode. While “#IStandWith” and “metaverse” got 15% and 22% votes respectively.
Conclusion
It is anticipated that the metaverse will soon occupy an important place in the industry, regardless of the results of the voting. In a recent study, McKinsey (an international consulting firm) estimated that metaverse-related technologies could reach $5T by 2030.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
