McKinsey estimates Metaverse to create $5T in value by 2030

The report notes that the Metaverse is too important to be ignored, as it has the potential to significantly impact both business and personal life

The 2022 bear market had a negative impact on the excitement surrounding the development of sub-ecosystems within the crypto market, such as non-fungible tokens (NFTs). However, the long-term potential for disruption in the Metaverse, a virtual space where people can interact with each other and digital objects, remains strong.

A report from McKinsey & Company estimates that the Metaverse could potentially generate up to $5 trillion in value by 2030 due to its potential to be used in a variety of consumer and business applications.