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Prepare to Enter the Metaverse

Prepare to Enter the Metaverse

You may have heard it said that the metaverse is the new frontier. While it may seem overhyped, there are some compelling arguments that suggest it’s worth paying closer attention to. 

Steve Weber of our sister firm Breakwater Strategy shares his perspective on how companies should be thinking about the metaverse:

  • It’s the next obvious chapter of post-covid life. No one thought the world could run on Zoom–until it did. 

  • It’s a climate-friendly opportunity to boost economic growth and counteract inflationary pressures.

  • It presents the opportunity to build better business models that don’t rely on personalized data and can better protect people’s privacy. If we get it right.

  • The metaverse is a tool for organizations to get real about DEI in a space where identities can be truly fluid and experimental.

The metaverse is poised for profound hype—and profound innovation.The metaverse envisions a digital space that is interactive and decentralized, expanding the autonomy of the user base. It could enable users to control their data and identity while enabling digital marketplaces to work without intermediaries. 

It’s important not to underestimate the depth and strength of people’s fascination with the metaverse. There are deeper motivations behind these aspirations that will find their way to some other channel, even if the metaverse doesn’t come to fruition. 

Exploring what opportunities exist within the metaverse will offer insight into these motivations and open up entirely new ways to connect with users.  

As large brands like Adidas, Visa, JPMorgan and now Microsoft start to test the waters of the metaverse, it’s time to start considering what this environment could mean for you.

By the Numbers

Midterm Madness

With almost half of states set to open polls by the end of this week, our Research and Insights team took a look at the dynamics affecting this year’s midterm election in comparison to typical midterm elections. 

While Democrats have more in their favor than a typical midterm, that doesn’t mean they are "favored." 

The "Typical" Midterm Election:

  • The race is a referendum on the president and the party in power.

  • More seats are lost when the president’s job approval ratings are low and the economy is struggling.

  • Toss-up races tend to break toward the same party.

The 2022 Midterm Election:

  • Voters are weighing more than Biden. Other issues like abortion and Jan 6 are concerning voters.

  • The GOP is facing headwinds of its own (Trump’s legal battles, backlash to the Dobbs decision) while still holding the redistricting advantage. 

  • Forecasters don’t expect a runaway win by either party.

At the same time, rates on mortgages have nearly doubled since early 2022, and the cost of groceries has increased 11% over the past year. 

With less than 30 days left in the race, all of these dynamics make the outcome even harder to predict.

Read the full analysis here.

Toking the Flames

Recent polling shows President Biden’s recent mass pardon of people convicted of marijuana possession under federal law reflects Americans’ evolving opinions of pot. Our Insights team shared this research: 

  • Two out of three Americans (67%) support pardoning all prior federal convictions for possession of marijuana.

    • 82% of Democrats support this measure vs. 45% of Republicans. 

  • More than half of Americans (55%) think marijuana should be made legal, while 29% think it should be illegal and 16% are unsure. 

  • Most Americans (72%) support changing the classification of marijuana so that it is no longer a Schedule I (most dangerous classification) drug, while 26% oppose the measure. 

  • Twelve percent of Americans think marijuana use has a very positive effect on society, 37% say it has a somewhat positive effect, 31% say it has a somewhat negative effect and 19% say it has a very negative effect.

  • Almost half of Americans (48%) say they have tried marijuana, while 52% say they have not.

    • 34% of Republicans have tried marijuana, compared to 53% of Democrats.

October 18, 2022
By Nedra Pickler and Irene Moskowitz
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