McKinsey, the world’s first management consulting firm, has included altcoin sectors that will reach $5 trillion in investments by 2030, in a new report on the cryptocurrency market.
McKinsey analysts expect trillions of valuations from these two altcoin markets
According to research from McKinsey, a global management and consulting firm, the metaverse could generate up to $5 trillion in consumer and enterprise use cases by 2030. This amount is equal to the current economy of Japan, the world’s third largest economy.
Report attributes the expected exponential growth of the metaverse to several factors
McKinsey’s report attributed the expected exponential growth of the metaverse to several factors. He identified the Metaverse’s rate of acceptability across genders, geographies, demographics, and generations as a key element in supporting its growth and adoption.
The report states that despite the novelty of the metaverse, consumers have already shown their readiness to spend their money on technology. Companies are also investing heavily in infrastructure that supports metaverse development, while brands are already experimenting and recording positive feedback.
McKinsey’s latest research shows that businesses will attract higher use cases for the metaverse in key service areas. As defined by the Firm, banking, discrete manufacturing, media, process manufacturing, professional services, retail and telecommunications are areas with potentially high use cases for businesses.
Metaverse and artificial intelligence (AI) trends
According to the McKinsey report, the metaverse does not stand alone. It combines elements of top promising trends such as Artificial Intelligence (AI), immersive reality, advanced connectivity and Web3. McKinsey states that this is a key reason for corporate leaders to be interested in and invest in technology. On the way to reach the $5 trillion market valuation predicted by the company, the industry’s largest metaverse projects currently are as follows:
- ApeCoin (APE)
- Axie Infinity (AXS)
- ImmutableX (IMX)
- The Sandbox (SAND)
- Enjin Coin (ENJ)
- Gala (GALA)
- Magic (MAGIC)
- step (GMT)
- Illuvium (ILV)
- Wax (WAXP)
McKinsey also mentioned AI projects in his report. cryptocoin.com As Forbes, we have included the report on artificial intelligence focused cryptocurrencies in this article. Here are some of the biggest AI projects in the market right now:
- The Graph (GRT)
- SingularityNET (AGIX)
- Fetch.ai (FET)
- Ocean Protocol (OCEAN)
- Exec RLC (RLC)
- Numeraire (NMR)
- Artificial Liquid Intelligence (ALI)
- dCargo (DKA)
- Covalent (CQT)
- Phala Network (PHA)
Trillions could flow into these altcoin projects
Two of the most important current uses of Metaverse identified by McKinsey are “Brand marketing and consumer engagement” and a digital representation of the physical process described as “Digital twins”. A few companies that maintain their presence in virtual worlds such as Roblox, Fortnite and Sandbox are implementing the first. For the latter, organizations create copies of their physical settings and objects in a metaverse that generates data in real time.
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