![]() 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. Commit to a “responsible metaverse”: Organizations will need to manage a range of complexities and risks in the metaverse (e.g., privacy/security, accessibility, sustainable energy consumption) and ensure they are proactively building a responsible metaverse and effectively maintaining consumer and employee trust.The metaverse is having a moment: if you’ve ever done a Google search for the term “metaverse,” you’re not alone.Focus on demand and what motivates users: Organizations should focus on how to create captivating content and engaging experiences (e.g., exclusive partnerships, user generated content tools, robust data and insights collection) in order to establish share and remain competitive.Take the long view: Given the mainstream metaverse and corresponding revenue generation are likely several years out, companies should take a long-term view on investments and consider KPIs around consumer and employee engagement in addition to ROI. Consider investments in the context of broader digital transformation agendas.Adopt a “test and learn” approach for both consumer facing and enterprise functions. Don't underestimate the potential: Formulate a metaverse strategy but keep it flexible enough to adapt to changes in technology and consumer preferences.While the future of the metaverse is still unknown, there are several actions executives can take now: While the Internet today has an important relationship to the economy, the metaverse could have its own economy. Second, the metaverse is expected to have a native economy, including digitally native assets and trade. First, it is likely to include both the physical and digital/virtual worlds in the user's experience. It also has at least two other important characteristics that enhance its potential as a new platform with a wide variety of uses. ![]() Together, those technologies can create the experience of an immersive, three-dimensional environment in which users interact with their surroundings and other users as if they are in a shared space.īut a fully developed metaverse is more than merely a virtual space. It’s the convergence of several separate technologies, all of which are quickly maturing for mainstream use. It’s not a single technology or device, and it’s not a service of any one company. The metaverse is the popular term used to describe what many expect to be the next significant paradigm for how we use digital technologies and networks to interact and collaborate with others and have virtual experiences of all kinds. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |