finbold.com
As the metaverse concept evolves to form part of daily life, some countries are standing out, exhibiting readiness to embrace the new technology.
Indeed, the leading countries in metaverse adoption have recorded high scores in elements such as fixed broadband speeds, internet prices, the number of blockchain financial startups, and the cost of high technology exports, a study by Uswitch shared with Finbold indicates.
Notably, the Netherlands ranks as the most metaverse-ready country globally, with an overall ‘metaverse readiness score’ of 7.74 out of 10. Switzerland ranks second with a score of 7.61, followed by Lithuania at 7.39, while Malta ranks fourth at 7.31, and France fifth at 6.96 respectively.
Elsewhere, the United Kingdom is the seventh metaverse-ready country with a score of 6.77, while the United States lies in the twelfth spot at 6.32.
Breakdown of metaverse-ready metrics
Based on the individual grading metrics, the United States has the highest internet speeds at 167.37Mbps. The study indicated that the U.S. is the most connected country regarding broadband.
At the same time, Romania accounted for the cheapest internet costing $9 per month, while Cyprus has the leading number of blockchain startups. The researchers tied the lack of cryptocurrency regulation to Cyrus’ high number of blockchain-related firms.
“Blockchain technology will play an important role in the metaverse, allowing users to purchase and trade using cryptocurrencies and NFTs. These are reportedly essential to the proposed ‘Metaverse economy’ that Meta hopes to grow as part of this ambitious project,” Uswitch stated.
Furthermore, with 34,082 Google searches per million people, Cyprus also accounted for most metaverse-related searches.
Finally, the Republic of Ireland has the most high-tech exports at $8,450 per capita. In this line, the country hosts some leading tech companies, including metaverse-focused Meta (NASDAQ: FB).
Metaverse risks
Although the researchers acknowledged that the metaverse is still in its infancy stage, the technology comes with select risks that should be mitigated in advance.
For instance, Uswitch stated that the metaverse could be exploited as a get-rich scheme alongside questions on how it should be moderated.
Despite most countries getting ready for the metaverse, leading global brands are also filing related trademarks in readiness for the sector’s maturity.