Metaverse to create $5T by 2030: McKinsey
What they are saying
“While the 2022 bear market grazed off the excitement around the budding crypto sub-ecosystems such as nonfungible tokens (NFTs), the Metaverse remains well-positioned for long-term disruption. Considering the myriad consumer and business-centric use cases the metaverse could cater to, a McKinsey & Company report highlights the technology’s potential to generate up to $5 trillion in value by 2030.
For the Metaverse to reach its full potential, the report highlighted the need for four technology enablers — devices (AR/VR, sensors, haptics, and peripherals), interoperability and open standards, facilitating platforms and development tools. However, the success of Metaverse is weighed by a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users, and citizens.” Cointelegraph
My Take
Like it or not (and I know there is a lot of health scepticism) the Metaverse is going to be be and drive a lot of value.
As I have researched into the topic Metaverse I see lots of new use cases being developed which are getting user traction. Where Meta is struggling my bet is that the new Apple head set is going to be what really spurs a lot of the talk about town and builders developing use cases this summer. I think this will create renewed optimism and user take-up. The business and money will follow.
(Image credit: Future)
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