Cybersecurity fears likely to make businesses Metaverse averse

The virtual world of the Metaverse is already attracting people to attend virtual events and play games. It also has the potential for businesses to make money — research from McKinsey suggests it could be a $5 trillion industry by 2030. In addition 37 percent say their organization has already been attacked in some way related to the Metaverse. Currently only one in ten IT decision makers say their organization is operating in the Metaverse, while 52 percent expect to be there within the next five years or sooner and 35 percent do not have plans to explore or adopt the Metaverse at all. Around 50 percent say security concerns, risks to data privacy and lack of end user interest are among the top three reasons impacting their rate of adoption.

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