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Citizens can vote for Oxford’s Word of the Year title for the first time in history. Amongst other choices, ‘Metaverse’ deems to be one of them.
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The voting for the word nomination closes on December 2, following which the results would be announced by December 5.
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According to Oxford University Press, there was about a four-fold rise in the usage of the word in October 2022 as compared to last year.
Citizens can now vote for Oxford’s Word of the Year title for the first time in history. Amongst other choices, ‘Metaverse’ deems to be one of them. In addition, the voting for the same closes on December 2, following which the results would be announced by December 5.
Moreover, according to Oxford University Press, it was noted that there was about a four-fold rise in the usage and search emergence of the word in October 2022 as compared to last year in October 2021.
The institution has also defined the concept of Metaverse as a,
“Virtual reality environment in which users can interact with one another’s avatar in an immersive way.”
The term ‘Metaverse’ was initially coined by American Writer Neal Stephenson in 1992 in his science fiction novel ‘Snow Crash’. In the novel, the Metaverse is portrayed as technological advancements which are utilized across diverse economic sectors.
Further, in the current standards, the Metaverse Industry strives to reach $730.5 Billion by 2028 with a compounded annual growth rate of about 23.2 per cent between 2022 to 2028, cited by Globe News Wire.
At the same time, it is also evident to note that the awareness of Metaverse in the growing economy of India has grown about 80% higher than the world average, according to a recent Deloitte report.
The facts and figures can be confirmed by rising successful Metaverse projects in the country, including India’s first metaverse influencer ‘Kyra’. Simultaneously, the first metaverse wedding and the world’s first food metaverse ‘OneRare’ have also experienced triumph in the nation.
