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

A report by McKinsey finds that the metaverse could generate between $4 to $5 trillion depending on adoption numbers... 

Valuations of burgeoning technological advancements like NFTs and Web3 were mauled down by 2022's bear market, but valuations in the metaverse appear to be holding steady.  A report by McKinsey & Company highlights metaverse technology's potential to generate up to $5 trillion in value by 2023. The steadfast valuations are reported to arise from the metaverse's eclectic use cases that cater to a number of consumer and business industries.  The success of the metaverse will rely greatly on its ability to maximize the human experience. Four crucial developments are necessary to bring the metaverse to its full potential, each of which are discussed in the article in more detail.  To date, metaverse initiatives around marketing, learning and virtual meetings have seen the highest adoption rates across various industries.  The metaverse has also made significant inroads in the dating industry with one-third of surveyed singles showing interest in virtual world dating, according to a recent survey conducted by Dating.com.  "The metaverse is simply too big to be ignored," the McKinsey report says, highlighting the impact it could have on commercial and personal lives. McKinsey estimated that over 50% of live events could be held in the metaverse by 2030, potentially generating up to $5 trillion in value. What are the four developments needed to take the metaverse to the next level? Read the full story here on Cointelegraph. Don't miss a beat in the world of crypto. Leverage the same AI technology that Cointelegraph's journalists use to surface the latest news with the NewsQuakes™ indicator that's only available on Markets Pro — learn more. Regards, Russell DeCorte Director  Markets Pro © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.