Rather, the biggest risk is missing the wave of change that breakthrough technologies such as the original internet, AI, and the metaverse can unleash. Don’t be distracted by the debacles in crypto and nonfungible tokens (NFTs) those are Web3 technologies that are related but not exactly the same as the metaverse. On the other hand, there are clear risks. We estimate that the metaverse could generate $4 trillion to $5 trillion in value by 2030 see our report for all the details. And as with any technology so vast and all-encompassing (it’s similar to AI in its scope), the potential is enormous. The companies that are building the metaverse see it as the next iteration of the internet (see this McKinsey Explainer for more). How should CEOs view the metaverse? Is it a big opportunity or a big risk? Our answer: the opportunity is enormous-and the risk is not what you think it is. 3 Harriet Agnew and Richard Waters, “Meta shareholders vent anger at Zuckerberg’s spending binge,” Financial Times, October 31, 2022. Yet investors are asking questions of metaverse companies about when they can expect tangible, near-term results from these companies’ investments. And others are investing Meta continues to spend at least $10 billion annually on metaverse development. 2 “October 2022 – welcome to the metaverse,” Mapleblock, Novem Mitchell Clark, “Fortnite made more than $9 billion in revenue in its first two years,” The Verge, May 3, 2021. while Fortnite had more than 20 million in 2020 and generated more than $9 billion in sales between 20. Everyone has heard about the successes racked up by some big gaming companies: Roblox reported more than 58 million daily active users in 2022, 1 Roblox Corporation, September 30, 2022. Investment more than doubled in 2022 powered by big moves (such as Microsoft’s $69 billion acquisition of Activision Blizzard, now under antitrust review) and small ones (about $12 billion to $14 billion of venture capital and private equity investment). Suddenly, the metaverse is in the zeitgeist, for better or worse.

ChaosMetaverse download the new for mac