Metaverse Exploitation, Abuse to Increase in 2023: Kaspersky

Paigambar Mohan Raj
Source: New York Post

According to a new report by the security firm Kaspersky, exploitation of the metaverse will increase in 2023. The firm attributed the increase to the lack of data protection and rules. Although there are only a handful of firms with metaverse initiatives, Kaspersky stated that the number is expected to grow over the next few years. The firm highlighted that the market may reach $50 billion by 2026.

The metaverse experience is available to everyone and is exempt from local data protection regulations like GDPR. This can lead to complicated inconsistencies between the rules governing data breach notification.

Furthermore, Kaspersky highlighted the instances of avatar rape and abuse, despite efforts to incorporate a safety feature into metaverses. Moreover, the firm says more incidents of abuse will spill over into virtual spaces. Since there are no particular laws or guidelines for moderation, this tendency might continue through 2023.

Big tech continues to fund metaverse projects

While the dangers of virtual exploitations still loom fresh, big tech companies are showing no signs of stopping their funding of virtual projects.

Meta recently announced that it would divert its focus on ads, AI, and the metaverse, amid mass layoffs. The company has struggled with its finances over the last year. CEO Mark Zuckerberg stated that things “did not play out the way I expected.”

Even Apple seems to be hiring people to propel its metaverse project. Recent job advertising and pertinent patent filings suggest that Apple is developing a “3D mixed-reality world” with features akin to the metaverse.

Also, Animoca Brands has revealed its plans to launch a $2 billion fund for metaverse businesses. Animoca Brands made the highest investments in the crypto space, a total of 66 in the first half of 2022. The Sandbox metaverse game by Animoca is well-known for letting players purchase digital land plots and customize them using non-fungible tokens (NFT).

Regardless of the dangers, one thing is for sure; the world is moving faster and faster toward the digital. Proper conduct and rules must be maintained if we as a species are to explore the coming digital future.