Welcome to the metaverse. Now, where exactly are we? Imagine for a moment the next iteration of the internet, seamlessly combining our physical and digital lives.
It’s many things: a gaming platform, a virtual retail spot, a training tool, an advertising channel, a digital classroom, a gateway to entirely new virtual experiences. While the metaverse continues to be defined, its potential to unleash the next wave of digital disruption is clear. In the first five months of 2022, more than $120 billion have been invested in building out metaverse technology and infrastructure. That’s more than double the $57 billion invested in all of 2021.
McKinsey has now taken a deep dive into the potential of the metaverse, surveying more than 3,400 consumers and 450 senior leaders globally in its recent report, “Value Creation in the Metaverse,” launching this week at VivaTech in Paris. The report aims to better understand the value of the metaverse, how broad adoption could be, where the greatest traction might take place, and what businesses can do now to capture value. We spoke with McKinsey senior partners Eric Hazan and Lareina Yee, both lead authors on the report, about the potential and momentum of this virtual world.
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