The well-reputed publisher of the Oxford English Dictionary has opened a public voting system for the Word of the Year (WOTY) competition. The publishing house opened the competition for public voting on 22 November, and one can expect "Metaverse" to grab the crown.
"Metaverse" is one of the three most popularly used words in 2022, with "IStandWith" and "Goblin Mode" being the other two nominees.
IStandWith emerged as a popular hashtag indicating solidarity towards activism or protest movements. While the word raged during the Russia-Ukraine war, it existed for several years.
People used the hashtag on social media to show solidarity, indicating the world is for everyone and that everyone should help each other.
Thus, IStandWith not only has a positive connotation but also reflects the interdependent nature of the social world. However, it found its greatest popularity during the Russia-Ukraine war, where the hashtag received a whopping 2.8 million views on social media.
"Goblin Mode," discovered in 2009, was categorized as slang in the Oxford Dictionary. People use the term to denote sluggish people, unwilling to work.
However, while it faded over the years, the lockdown marked its comeback. People staying at home all day could relate to the phrase, which marked its entry into the local language. Furthermore, the use of the word spiked when Hollywood sensation Julia Fox linked it with her breakup.
The word Metaverse refers to a virtual reality world where people can interact, buy, sell, eat, work, etc. The use of the word crossed all records in 2022, with virtual reality becoming more and more popular.
While the word's usage multiplied by four times in this phase, the crypto market and blockchain technology spiked it further.
Moreover, the CEO of Facebook, Mark Zuckerburg rebranding Facebook to Meta increased the impact of the word.
Amongst the three nominations, one can expect Metaverse to win the competition for several reasons.
While, on the one hand, people use this word across various social media sites at an unprecedented rate, it is also the foundation of future industries.
A recent report published by McKinsey estimated Metaverse to support industries worth $ 5 trillion in the next 10 years. No wonder the word generated a huge response in citing it and in practical use.