Opportunities and dangers of the trillion-dollar VR market
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The metaverse continues to increase, with business giants and upcoming gamers racing to grab a slice of the possibly trillion-dollar pie. Near $2 billion was invested in blockchain-based metaverse offers in 2022, based on Cointelegraph Research’s Venture Capital Database.
A 2022 report by McKinsey estimated the metaverse business to doubtlessly generate up to $5 trillion in revenue by 2030, a quantity overtaken by Citi’s forecast of $8 trillion to $13 trillion. These estimations replicate important progress from the worldwide metaverse market of $65.5 billion recorded in 2022. To understand these optimistic forecasts, the metaverse business would wish to maintain a formidable 85% compound common progress fee.
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