$120 Billion invested in the Metaverse in the first 5 months of 2022!

24 June 2022 Internet, IT & e-Discovery Blog Blog
Author(s): Peter Vogel

McKinsey.com has “now taken a deep dive into the potential of the metaverse, surveying more than 3,400 consumers and 450 senior leaders globally in its recent report, “Value Creation in the Metaverse,” launching this week at VivaTech in Paris.”  The June 15, 2022 report entitled “Meet the metaverse: Creating real value in a virtual world” included comments from McKinsey senior partners Eric Hazan and Lareina Yee about metaverse including Eric’s response to “How big could this opportunity be?”:

We expect the economic value of the metaverse to rise exponentially. Its appeal spans genders, geographies, sectors, and generations.

Consumers are open to adopting new technologies; companies are investing heavily in the development of metaverse infrastructure; and brands experimenting in the metaverse are getting positive feedback from consumers.

Our bottom-up view of consumer and enterprise use cases suggests it could generate up to $5 trillion in impact by 2030—about the size of Japan’s economy, the world’s third-largest.

No doubt about it, the Metaverse is for real!

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