"Cybersecurity Fears Likely to Make Businesses Metaverse Averse"

The Metaverse's virtual world is already attracting people to participate in virtual events and play games. It also has the potential to generate revenue for businesses. McKinsey estimates that it could be a $5 trillion industry by 2030. However, businesses are still concerned about the additional challenges, particularly those related to security. According to new YouGov research for app security company F5, six out of ten respondents believe the Metaverse has introduced security complexities that their organization may not be prepared to address. Furthermore, 37 percent say their company has already been attacked in some way related to the Metaverse. Only one out of every ten IT decision-makers says their organization is currently operating in the Metaverse, while 52 percent expect to be there within the next five years or sooner, and 35 percent have no plans to explore or adopt the Metaverse at all. Around half of respondents cite security concerns, risks to data privacy, and a lack of end-user interest as the top three factors influencing their rate of adoption. This article continues to discuss organizations' concerns regarding the security risks that the Metaverse poses. 

BetaNews reports "Cybersecurity Fears Likely to Make Businesses Metaverse Averse"