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Metaverse will create $5 trillion impact

■ Interesting findings emerged from the “Creating Value in the Metaverse” report, in which the results of the survey conducted with more than 3,400 consumers and 450 senior leaders on a global scale were evaluated.

■ Metaverse technologies and infrastructures received more than $120 billion in investment in the first 5 months of 2022. According to the report, the metaverse will have a global impact of $5 trillion by 2030.

Like the Internet, the next platform on which we can work, live, connect and collaborate, the metaverse is growing exponentially. It is seen that metaverse technologies and infrastructures, where 57 billion dollars of investment was made on a global scale in 2021, received more than 120 billion dollars of investment in the first 5 months of 2022.

The “Creating Value in the Metaverse” report, which evaluates the results of the survey conducted with more than 3,400 consumers and 450 top leaders on a global scale, includes industry-based analyzes and predictions of McKinsey experts. In the report; It reveals key milestones in the history of the metaverse that began with the release of MUD1, the first multiplayer and real-time sandbox game, in 1978. In the report, in which the points to be considered in order to create value in the metaverse, which is defined as a real business in the virtual world, are shared; In addition to what excites consumers, the successful application areas of companies in general are also discussed.

Metaverse in the report; It is defined as an immersive virtual environment that connects different worlds and communities. It is emphasized that the Metaverse, where trade can be made using alternative currencies and augmented reality will be used in many areas, will include many more things and will be very large. Today, companies and consumers alike have their first Metaverse experiences; From socializing to commerce, from sports to virtual learning, it can carry all kinds of daily activities to this multi-universe.

Two-thirds of consumers surveyed say they’re excited to use Metaverse, especially for connecting with people and collaborating with remote colleagues. Survey results show that 79 percent of consumers who are active in the metaverse make a purchase there.

It consists of 10 layers under 4 main headings.

Of the 450 senior executives interviewed for the survey, 95 percent say Metaverse will have a positive impact on their industry.

Nearly one-third also think it will make a significant change in the way their industry works. The rate of those who believe that more than 15 percent of corporate income will come from the metaverse in the next five years is 25 percent. The metaverse, which has gained great momentum recently, is divided into 10 layers under 4 main headings by McKinsey experts. Below the content and experience of these titles; content, applications, and virtual worlds layers.

In the Platforms heading, there are 3D development platforms as well as access and discovery layers. All devices, operating systems and accessories used for the metaverse, as well as cloud solutions used for metadata storage, and infrastructure systems such as semiconductors and networks fall under the heading of infrastructure and hardware. The last title, facilitators, also counts as security, identity and data management, privacy and content moderation platforms.

In addition, platforms that manage digital identity, avatars and social graphics, as well as platforms where payments are made, are shared as the tenth layer under this title.

“FIRST DEFINE YOUR GOALS THAT WILL CREATE VALUE”

McKinsey & Company Partner Pınar Gökler Özsavaşçı emphasized that business leaders should have an open mind about what some potential applications in the metaverse might be and said, “Here, it is an evolutionary process and the metaverse needs to be considered as a long-term investment plan. The best way to discover opportunities is for business leaders to be metaverse users themselves. As McKinsey, we can gather our suggestions to business leaders who want to create value in the metaverse under 3 headings. To capture the value in the Metaverse, first; Develop a value-driven strategy. Define your goals that will create value and the role you want to play. The second step is to learn and adopt by testing. Quickly launch your first activities in Metaverse, monitor and reorganize results. Your third and final step is to focus on scaling the business. With your investments in your infrastructure and your company’s technical competence to scale on Metaverse, you also allow your teams to develop their capabilities.

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