Metaverse to possibly create $5T in value by 2030: McKinsey report

Metaverse to possibly create T in value by 2030: McKinsey report

While the 2022 bear market bordered on the excitement around fledgling crypto sub-ecosystems such as non-fungible tokens (NFTs), Metaverse remains well-positioned for longer-term disruption. Metaverse could deliver; a report by McKinsey & Company highlights the technology’s potential to deliver up to $5 trillion in value by 2030 (sensors, haptics, and peripherals), interoperability, and open standards, facilitating platforms and development tools. However, Metaverse’s success is hampered by a greater focus on maximising the human experience with the goal of creating positive experiences for consumers, end users, and citizens.

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“The metaverse is just too big to ignore,” the report states, emphasising the impact it can have on business and personal life. McKinsey estimates that more than 50 percent of live events could take place in the Metaverse by 2030, potentially generating up to $5 trillion in value. The Metaverse is well positioned to accommodate today’s romantics, with a third of the singles surveyed expressing an interest in online dating. According to a recent survey by Dating.com, an online matchmaking platform:

With advances in dating app technology and the Metaverse, more data is open to making connections that span cities, countries, and even continents.” With the Metaverse in the picture, singles are open to dating people from different geographic locations.

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