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What is value creation in the metaverse?

27 January 2023

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Already from the first weeks immediately after Mark Zuckerberg announced the change of name of his company and then gave way to the creation of numerous virtual worlds named metaverse, experts began to say what could be the ability to create value of this new reality. Today came a new estimate, published by the McKinsey company.

McKinsey’s report indicates the economic value that the metaverse can create

McKinsey is a leading international management consulting firm, which recently came out with the report 'Value creation in the metaverse'. The report was compiled by collecting data from a survey that had as subjects 3,400 users and entrepreneurs.

In the report it is estimated that by 2030 the Metaverse can create value for 5 trillion dollars. To benefit from the important economic data from these environments should be in particular e-commerce that is estimated to be worth 2 trillion dollars to be worth 2.6.

The perspective of entrepreneurs and users on the creation of value by the Metaverse

These figures are good to hope for companies that have already chosen to invest and could act as a trigger for those who have not yet done so but are considering it. So much so that 61% of the executives interviewed believe and hope that the metaverse can make positive changes, albeit slight, to their sector.

On the user side, on the other hand, 79% of respondents said they appreciated, or even preferred, shopping in the metaverse, being this more immersive. Expanding the concept, 59% of consumers said they preferred activities that are accessible in immersive reality over those of the physical world.

The types of users in the Metaverse

From the research of the Metaverse Observatory, it is possible to identify three categories of users who approach this new way of interacting with the web.

  • Enthusiastic connoisseurs

They are 31% of the sample and are the most enthusiastic and prepared about these new technologies. Demographically, Generation X (43-57 years) and Millennials (27-42 years) prevail slightly, probably also favored by the fact of having experienced the metaverse. They have a medium-high degree and use cryptocurrencies and NFT to a greater extent than average.

  • Optimistic neophytes

29% of the sample. They are the ones who feel more similar and less afraid towards metaverse and immersive reality. But they frequent it less than the Connoisseurs Enthusiasts because they consider it still too expensive for them and they don’t have occasions to use it in professional field.

It’s actually the cluster of the highest concentration of people in Generation Z (16-26 years). They expect to use the metaverse for activities beyond the game, such as attending meetings, learning new things, and intensifying their entertainment experiences.

  • Sceptical

Are 40% of the sample and both knowledge and emotional affinity towards the metaverse are below average. They are sceptical about these new technologies, which they associate exclusively with video games, and concerned that they bring a negative confusion between real and virtual life. Demographically it is a substantially transversal cluster, where the Baby Boomers (aged 58 and up) are slightly overrepresented while Generation Z is underrepresented.

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