It represents a convergence of digital technology to combine and extend the reach and use of cryptocurrency, artificial intelligence (AI), augmented reality (AR) and virtual reality (VR), spatial computing, and more. Based on this analysis, we believe the metaverse is best characterized as an evolution of today’s internet-something we are deeply immersed in, rather than something we primarily look at. In June 2022, McKinsey released Value creation in the metaverse, a new report based on surveys of more than 3,400 consumers and executives, as well as interviews with 13 senior leaders and metaverse experts. We believe both interpretations are correct. Others think it has the potential to be a commercial space for companies and customers. Some believe it’s a digital playground for friends. The metaverse means different things to different people.

It’s an opportunity that is too big to ignore. The latest McKinsey research shows that the metaverse has the potential to generate up to $5 trillion in value by 2030. And so far in 2022, more than $120 billion has flowed into the metaverse.

In 2021, metaverse-related companies reportedly raised more than $10 billion, more than twice what they did in 2020.

And once people get the gist, most of them are all in: recent McKinsey research shows that approximately 60 percent of consumers are excited about the transition of everyday activities like shopping, dating, and working out to the metaverse.īut it’s not just individuals who are meta-curious: private capital is betting big money on the metaverse. In 2021, internet searches for the term increased by 7,200 percent. The metaverse is having a moment: if you’ve ever done a Google search for the term “metaverse,” you’re not alone.

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