The 2022 bear market was a result of the hype surrounding budding crypto sub-ecosystems like nonfungible tokens, but the Metaverse is well-positioned to disrupt the long-term. 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. Metaverse’s success is determined by its greater emphasis on human experience. This includes positive experiences for citizens and consumers.
Metaverse initiatives related to marketing, learning, and virtual meeting have had the highest levels of adoption in all industries. According to McKinsey’s April 2022 survey of senior executives, most initiatives related to Metaverse have experienced low-medium adoption.
“The metaverse is simply too big to be ignored,” read the report as it highlighted the impact it can have on commercial and personal lives. McKinsey calculated that the metaverse could host over 50% of all live events by 2030, potentially creating up to $5 Trillion in value.
Related: LG Electronics’ latest partnership seeks to bring interoperable metaverse platforms to TVs
Metaverse is well-positioned to host romantics of the future, with one-third indicating an interest in online dating. A recent survey by Dating.com, an internet matchmaking site:
“With advancements in dating app technology and the metaverse, more daters are open to making connections that span different cities, countries and even continents.”
Metaverse shows singles that they are open to meeting people from all over the world.