Metaverse - where is the journey heading?

Digitalisation & Technology, 10.10.2022

By 2026, one in four of us could be spending at least an hour a day on the Metaverse, Gartner estimates. Here on //next, we have also reportet on the immense market potential of this megatrend. However, today we do not yet see a unique and large - but rather a very fragmented Metaverse: Different platforms pursue different approaches and are still largely independent of each other. Nevertheless, the development is amazing. Time for an interim update from three ERGO experts.

VR Brille

The status quo

The gaming industry offers arguably the best and most developed idea of what we might expect in a unique, large-scale metaverse. In addition to a full 3D gaming experience, gamers have become developers. In Roblox, players can create new content themselves, for example in the form of NFTs, which not only intensifies the game itself, but also means monetary income for successful developers. In addition, events in the game worlds are now also designed for less passionate e-gamers, especially when large events are hosted: Travis Scott's Fortnite concert in the summer of 2021 had around 12 million "in attendance".

At the latest since Facebook was renamed Meta in late autumn 2021, there has been widespread awareness that the big tech corporations are investing huge sums in the billions in the development of the metaverse and thus in their future dominance.

Another - namely decentralised - form of metaverse is observed in platforms such as Decentraland, which is based on the Ethereum blockchain. Here, users create and trade their own assets, building and buying virtual real estate, for example. As interest grows, property values often rise immensely.

Many companies have long recognised that the metaverse is obviously accompanied by a digital economy. Samsung, for example, opened a virtual shop in NYC in the style of its flagship shop. Brands like Nike, Gucci or Balenciaga market virtual products for the avatars operating in the metaverse - and sometimes at higher prices than their physical counterparts. ERGO is also already busy experimenting.

“The metaverse is still at the very beginning of its development. However, the signs that it will expand our reality in the long term are growing rapidly.”

Fit for the Metaverse

The fact is that the metaverse is still at the very beginning of its development. However, the signs that it will expand our reality in the long term are increasing rapidly. This raises the question of how to take on a pioneering role in the insurance industry.

A Metaverse presence could therefore strengthen ERGO as an innovative brand and open up new channels for customers to connect with us. It seems realistic that various services will soon be offered via Metaverse. In relation to insurance, this could include the provision of information, advice or insurance sales. Here, one may think in a new way and imagine an immersive experience, such as a virtual immersion in the holiday and its dangers when it comes to travel protection.

In addition to the physical-digital presence, new insurance needs could arise in the metaverse - conceivable here would be wallet or NFT insurances that cover the digital assets of avatars, for example. But there is still a long way to go before these new insurances are accepted. Read also the opinion of our Tech Trend Radar 2022 team. The key will be to build on the experience with Metaverse-related technologies such as VR and create a broad understanding of potential applications. There should be no shortage of inspiration.

Text: Lea Bötticher, Florian Eising und Paul Schön

Your opinion
If you would like to share your opinion on this topic with us, please send us a message to

Related articles

Digitalisation & Technology 06.10.2022

Award-winning software for insurance sales

After a two-year break, the Bundesverband Deutscher Versicherungskaufleute (BVK) and Kubi e.V. have once again honoured the best sales software with the Eisenhut Awards. This year's winners include Swiss Life, ERGO and Blau direkt.

Digitalisation & Technology 06.12.2023

“We want to make abstract insurance products tangible”

Luisa-Marie Schmolke, Innovation Manager at the ERGO Innovation Lab Berlin, gave an interview to the trade journal transfer about how ERGO provides customer advice in virtual reality. Just in time: ERGO's VR Experience was honoured yesterday with the “Vordenker Award” at the SZ conference “The Digital Insurance”.

Digitalisation & Technology 07.06.2023

Consultations in virtual reality

Are you interested in an insurance policy but don't want to take it out online or on the phone because you have too many questions and need detailed advice? But you also don't want to go to the agent or invite him or her to your home? No problem: if you have VR glasses from Meta, you can now get advice from ERGO via those googles!