A report from McKinsey argues the metaverse could be worth $5 trillion by 2030 and the epicenter of gaming, socializing, fitness, shopping and remote learning. A study of over 3,000 consumers, found that almost 60% said they already prefer one or more of those activities in the virtual world.
Corporate investing in the metaverse has exploded from $13 billion in 2021 to over $120 billion in 2022, but will that change if the consumer and the economy continues to be pressured?
Full Video Transcript Below:
With crypto joining the market’s sharp selloff, is the grass greener in the metaverse? A report from McKinsey argues the metaverse could be worth $5 trillion by 2030 and the epicenter of gaming, socializing, fitness, shopping and remote learning. A study of over 3,000 consumers, found that almost 60% said they already prefer one or more of those activities in the virtual world.
But will consumers open their virtual wallets? 79% of active metaverse participants already have and McKinsey predicts metaverse e-commerce could make up $2 trillion to $2.6 trillion of all spending by 2030. McKinsey isn’t alone in this ambitious vision of the metaverse. Citibank believes the metaverse could be an $8 to $13 trillion marketplace by 2030.
Corporate investing in the metaverse has exploded from $13 billion in 2021 to over $120 billion in 2022. However, as corporate America eyes the future, investors are staring down recession fears in the present. Will the metaverse pay the price if consumers and companies cut costs?
It’s your boy Ross Mac and that was the Crypto Minute on TheStreet.
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