The Metaverse potential for Brands
With the metaverse forecasted as the future of social media, brands are quick to strategize new marketing campaigns. The metaverse is a complex experience of virtual and augmented realities where users can connect, play, and exchange transactions.
In most instances, brands will combine the marketing of virtual and physical goods with the immersive worlds they create in the metaverse.
Eric Hazan and Lareina Yee from McKinsey kick-started ?#vivatech2022 in Paris with a keynote around value creation in the metaverse.
This year, the big focus was on sustainability and low carbon technologies, like the PowerOfMoss start-up, which uses vegetal walls and roofs to cool and green buildings.
McKinsey & Company's Partners: Tarek Elmasry, Eric Hazan, Greg Kelly, Hamza Khan, Shivam Srivastava, Lareina Yee, and Rodney W. Zemmel have put together one of the first deep perspectives on the metaverse, doing a really good job summarizing the potential and how value creation can take place in the Metaverse – It is definitely a must-read.
It is a fascinating analysis on how this new technology could shape a dramatically different world in the decade to come, and what leaders can do today to capture value tomorrow.
Based on their study, they estimate the Metaverse may generate up to $5 Trillion in impact by 2030, spreading across a wide variety of sectors such as:
- E-commerce
- Virtual Learning
- Advertising
- Gaming
- and many more.
The 77-page report, titled "Value Creation in the Metaverse," analyzed current adoption trends and drew additional insight from two global surveys: one polled a range of executives from 448 companies across 15 industries in 10 different countries, and the other polled a range of consumers from 3,104 consumers across 11 countries.
$120B+ investments in 2022 so far, 59% of consumers looking forward to conduct everyday activities there and $5 trillion of market value.
领英推è
Some might argue that the right unit of account for the Metaverse economy isn't USD (which in 2030 will be at least 2 times cheaper than today) but rather BTC as the only true and solid foundation for this new economy to come.
As the #Web3 matures, the field of players in the #Metaverse is getting crowded ranging from Meta and Microsoft building new metaverse to Roblox and Fortnite, who hosted company events and concerts for millions, not to mention the ~$500M in virtual real estate purchases that #The Sandbox and other attracted. According to McKinsey & Company this is, however, only the beginning.
Leading sectors are planning to dedicate substantial parts of their #DigitalTransformation budgets to the metaverse with energy (18%), automotive, machinery and assembly (17%), high tech (17%), travel (15%) and media & entertainment (15%) leading the way.
On top of that, the influx of #VentureCapital and Big Tech R&D spend will accelerate metaverse development and adoption considerably.
Already today 79% of consumers active in the metaverse have made purchases there. That makes it very clear why companies are putting the Metaverse so high on their agenda. It has the potential to become the future space for private and professional life just as online & mobile replaced (or at least reduced) the physical high street.
And although the value generated in the metaverse today is only about $0.2-0.3 trillion, McKinsey is forecasting it to reach $4-5T by as soon as 2030, with use cases reaching from #gaming, #entertainment and #ecommerce to #banking, #education and even #healthcare.
You can access and download the full "Value creation in the metaverse" report from McKinsey & Company
Entrepreneur, SaaS B2B, Product Management, AI Data Platforms
2 å¹´Second study on the Metaverse complete overview from Boston Consulting Group (BCG) - no signup required to download the study! https://lnkd.in/emAuQWrW
Entrepreneur, SaaS B2B, Product Management, AI Data Platforms
2 年Adding this study on Luxury Brands 3.0 from Boston Consulting Group (BCG) and Highsnobiety. “Luxury 3.0, the communities surrounding a brand have become active stakeholders. It is a landscape that places stories over product; knowledge over possession; community over crowds; participation and experiences over observation.†"The dawn of luxury 3.0" https://lnkd.in/eCVAiC5B #metaverse #luxurybrands #web3 #web3marketing #highsnobiety #bostonconsultinggroup
VP Global Customer and Partner Success at SkillsTX | Building Skill First Organization
2 å¹´Charles Gourlaouen thank you for sharing this - this part got my attention and made me curious - Some might argue that the right unit of account for the Metaverse economy isn't USD (which in 2030 will be at least 2 times cheaper than today) but rather BTC as the only true and solid foundation for this new economy to come. I suppose BTC will be the foundation for metaverse world and economy, whereas gold will remain the foundation of the physical world and economy. It would interesting to see how these transactions and exchanges will work when there is a solid process and governance in place.