Nokia optimistic metaverse will replace smartphones in the future

Nokia, one of the first corporations to produce a mobile phone system for consumers, has taken a very direct and open stance in favor of the metaverse.

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Big man Nokia "optimistic" metaverse will replace smartphones in the future

While augmented reality devices are still relatively new to most of the community, Nokia believes there will be an increase in intense consumer interest in such devices. Nokia Chief Technology and Strategy Officer Nishant Batra confidently stated:

“We expect today's entertainment and everyday technology devices to be surpassed by the metaverse experience. While the phone will still be around, the metaverse will be the main form of communication for the next decade.

Widespread adoption of technology from both corporations and customers will be crucial for the metaverse to truly grow. This will also depend on the availability of affordable, handy wirelessly connected VR and AR devices.”

Nishant Batra's point of view compared to reality is probably quite contradictory, because the price of popular metaverse headphones has recently increased dramatically, because Meta (formerly Facebook) has increased the price of the product. Headphone product developed by the company to 400 USD in July 2022.

Earlier this month, the company also introduced another premium option, the Quest Pro VR, which costs up to $1,500 after boldly launching its first metaverse-inspired virtual reality storefront, despite the fact that Meta's metaverse division continued to suffer losses in the first and second quarters of 2022 with losses of 3 billion USD and 2.8 billion USD respectively.

However, Nokia thinks that monetizing the metaverse will be a hard thing to achieve, arguing there will be fragmentation between different use cases for metaverse experiences and devices. On the other hand, the process of industrial adoption of the metaverse will be easier to achieve, as there are already a number of use cases explored.

However, Nokia's open-minded stance on the metaverse is a surprising move from a globally renowned technology icon known for its strict conservatism. And when the blockchain in general and the cryptocurrency market in particular have convinced that "caution" from a brand as big as Nokia, the journey to open a new development chapter for crypto will not be too far away.

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Oct 26, 2022

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