Metaverse Will Reach $800 Billion

MetaversePlanet July 28, 2022

0 1 minute read

Gökhan Say, a Member of the Multiversera Advisory Board, has emphasized the significant growth expected in the Metaverse market, projecting a size of $800 billion by 2024.

He highlighted the transformative nature of the Metaverse, often described as “Life 2.0,” and suggested that companies refraining from participation in this evolving landscape may face challenges in maintaining their existence.

The Global Informatics Association (BIDER) and Multiversera Technology Investments are gearing up to invest in startups operating in the Metaverse and related fields like blockchain, crypto technologies, NFTs, and artificial intelligence. These organizations plan to establish funds to support ventures in these domains.

Say underscored the current impact of the Metaverse, bringing together hundreds of millions of people through virtual experiences such as games and concerts.

Notably, major technology companies like Meta, Google, and Microsoft, as well as fashion giants like Nike, Louis Vuitton, and Balenciaga, have invested substantial sums in the Metaverse, including virtual land and other assets.

Market research institutions worldwide are predicting a significant surge in the Metaverse market, estimating its size to increase from $40 billion today to $800 billion in 2024 and a staggering $13 trillion by 2030.

Say pointed out the incredible digital transformation of the past decade, asserting that this trend will escalate into an unstoppable wave. Under the leadership of the Metaverse and supported by technologies such as Blockchain, NFTs, VR, and 3D modeling, companies that fail to adapt may struggle to survive.

Say also acknowledged that while many companies face challenges in keeping up with these developments and making informed investments, facilitating this transformative process would yield critical benefits.