The metaverse market size may be as huge as Japan’s economy by 2030!

The metaverse market size may be as huge as Japan’s economy by 2030!

To add to your surprise – Japan has the third largest economy in the world worth $5 trillion

Revealed by McKinsey & Company’s latest report ‘Value Creation in the Metaverse’ – The real business of the virtual world

95% of business leaders expect the metaverse to have a positive impact on their industry within five to ten years.

61% expect it to moderately change the way their industry operates.

60% consumers using today’s early version of the metaverse are excited about transitioning everyday activities to it.

The question for leaders now becomes two-fold: What role do you want your company to play, and how should you prepare?

Here are the 3 steps to capture the value created by the metaverse:

𝐃𝐞𝐯𝐞𝐥𝐨𝐩 𝐚 𝐯𝐚𝐥𝐮𝐞-𝐟𝐨𝐜𝐮𝐬𝐞𝐝 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐬𝐭𝐚𝐧𝐜𝐞:

Define your metaverse goals, such as whether you want to generate demand across existing and new segments, build communities, and create new revenue streams.

Determine the role you want to play, from building experiences to facilitating interactions and enabling infrastructure.

𝐓𝐞𝐬𝐭, 𝐋𝐞𝐚𝐫𝐧, 𝐚𝐧𝐝 𝐀𝐝𝐨𝐩𝐭:

Launch initial activities and use cases, exploring opportunities such as NFTs, immersive experiences, native advertising, and having a metaverse presence.

Monitor near-term results to refine long-term potential by identifying the right metrics for initial activations and testing long-term monetization options.

Learn more about users, examine behaviour on different platforms and undertake primary research.

𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐭𝐨 𝐒𝐜𝐚𝐥𝐞:

Identify and start scaling capabilities through sourcing the talent required and establishing the necessary technology infrastructure and tooling.

Embed the metaverse in your business strategy and operating model, while clearly identifying who will drive the initiatives in your organization.

Want more tips on how to enter the metaverse and leverage this booming industry? Let’s connect in DMs!

Brian Solis Rob Lowe Cathy Hackl Kavya Pearlman ⚠️ Safety First ⚠️ Ken Wee Marc Petit Metaverse911

#metaverse #future #web3community #opportunities