Recent research shows that digital assets in the Metaverse could be valued at $224.9 billion by 2027.
The valuation of digital assets in the Metaverse will rise along with demand for supporting blockchain solutions, which could potentially be valued at $148.6 billion, according to a report by Research and Markets.
A key factor that continues to propel interest and demand in the space is consumers’ and businesses’ interest in communication, applications, content, and commerce in the digital realm.
“Many companies have already committed billions of dollars to the Metaverse,” the report states. “Even governmental organizations are getting involved as evidenced by some countries thinking about opening ambassador relations within the Metaverse.”
Specifically, investment in virtual reality technology marks the most significant opportunity in the Metaverse as it is expected to reach $226.6 billion by 2027. Meanwhile, user-generated content and social media within the Metaverse will reach $82.9 billion by 2027. According to the report, financial services supporting various forms of Metaverse commerce will be valued at nearly $50 billion in the next five years.
With major tech companies ranging from Apple to Meta focussing on supporting innovative use cases for consumers and businesses, Metaverse is expected to transform a substantial number of functional elements within the enterprise and industrial segments, including sales, marketing, and business operations.