User spending in the metaverse will reach $5 trillion by 2030

Posted 17 June, 2022

Metaverse-related annual spending by businesses and consumers could reach $5 trillion by 2030, according to a new report from consulting firm McKinsey & Co.

The researchers interviewed 3.1 thousand people from 11 countries and managers of more than 400 companies in 15 industries. The report covered such types of virtual activities as games, communication in social networks, entertainment, shopping, and remote learning.

According to analysts, the share of e-commerce in the metaverse will be $2-2.6 trillion, and virtual advertising spending will be $144-206 billion.

79% of respondents said they had already made purchases in the metaverse, while 47% of them did it in games. According to a McKinsey study, 95% of company managers surveyed believe that the development of the metaverse will positively affect their field of activity in the coming years.

In early June, toy industry giant Mattel signed a multi-year deal with NFT marketplace Cryptoys. Hot Wheels and Barbie toys will be sold as NFTs and playable in the Cryptoys metaverse.

 

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17 June, 2022 09:49

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