As the 2022 bear market erodes the excitement around growing crypto sub-ecosystems like NFT, metaverse wants to be positioned for long-term bullishness. A report by McKinsey & Company signals that the technology has the potential to create up to $5 trillion in value by 2030, given the metaverse’s numerous consumer and business uses.
The report emphasized that four technology facilitators are needed for the metaverse to reach its full potential. Devices (AR/VR, sensors, haptics and peripherals), interoperability and open standards, enabling platforms and development tools. However, the success of the metaverse is measured by its greater focus on maximizing the human experience aimed at delivering positive experiences for consumers and users.
To date, metaverse initiatives related to marketing, learning, and virtual meetings have been embraced across various industries. However, according to an April 2022 survey of senior executives by McKinsey, most metaverse-related initiatives have low-to-moderate adoption.
Called “The Metaverse is too big to ignore,” the report highlighted the impact of the Metaverse on business and personal lives. McKinseyestimates that by 2030, more than 50 percent of live events could take place in the metaverse, potentially creating up to $5 trillion in value.
The metaverse is well placed to host today’s romantics, as a third of surveyed singles show an interest in dating in the virtual world. According to a recent survey by online matchmaking platform Dating.com:
With advances in dating app technology and the metaverse, more people are open to making connections spanning different cities, countries, and even continents.
With the Metaverse, singles have become open to dating people from different geographic locations.