Raising animals takes time, effort, and good health. Many people can’t have pets, even if keeping an animal could boost their well-being. But the metaverse might provide a solution.

People have already looked after digital pets in games like Tamagotchi, Pokémon GO, which uses augmented reality (AR), or CryptoKitties, based on blockchain on Ethereum. The global pet digital technology market in 2021 totaled $1425.35 million and by 2030 is expected to be worth $8037.85 million, according to InsightAce Analytic's latest market research. Annual growth averages 21.91% with no monopoly from any platform owner. The popularity of digital animals may lead to the creation of a community and speculative investment.

Several companies have announced their vision for pets in the metaverse, including:

- Bogo game aims to bring digital animal husbandry experience to life with Oculus glasses and virtual reality (VR) technology.

-Duro Dogs aims to be both the first game and digital goods platform on the metaverse open to users. Businesses can adopt their digital dogs on other platforms and may be extended to activities such as pet contests and various competitive games.

-MetaPets introduces the forever friend concept, allowing owners to create their own pet as a non-fungible token (NFT) that will survive forever. It is also ready to connect pet owners in a community.

Implications for the future:

- Spending time with pets remains a rewarding experience but it may be modified to fit lifestyles in the virtual world.

- Having a virtual pet might be a more convenient option than a real-world animal.

- When technology is further developed there might be debate on whether digital pets are pets or games, raising ethical issues.

- Raising animals for emotional benefits requires further study to real and virtual pets.

- Research by Sun Joo-Grace Ahn (2015) shows that digital pets can encourage owners to exercise. It will be interesting to see if the creators of virtual pet platforms will focus on designing healthy activities.

- Digital animals may reduce real-world pets. Exotic pets that are status symbols will remain popular.

Information from: https://www.apa.org, https://www.cdc.gov/.../keeping-pets-and-people.../how.html , https://www.kosmosjournal.org, https://www.researchgate.net, https://nationalpost.com, https://www.wired.com, https://coingeek.com, https://metaversepets-nft.com, https://metapetscoin.com, https://www.xycinews.com, https://english.etnews.com, https://www.prnewswire.com

Want to know more about us, click https://www.futuretaleslab.com and https://www.blockdit.com/futuretaleslab