The bear market that swept the cryptocurrency markets last year undoubtedly negatively affected sub-sector trends. The NFT and metaverse sectors, which investors followed at a frenzy in 2021, have largely lost their popularity today. Especially towards the end of the year, there was a lot of discussion that the number of active users in The Sandbox (SAND) and Decentraland (MANA) universes did not exceed one hundred.
However, according to the new report of McKinsey, one of the largest consulting companies in the world, this situation will not continue for long. Experts expect the market value of metaverse projects to rise to $5 trillion by 2030.
According to the report, there are four main factors for the metaverse sector to reach its full potential:
- Devices (e.g. VR glasses)
- open standards
- Simplified platforms
- developer tools
Experts drew attention to the importance of transferring the developments to the end user with a simple interface for the success of the sector and shared a guideline graphic.
McKinsey researchers shared some survey data alongside the report. A sample of single individuals were asked if they wanted to date in the metaverse universe. One-third of the participants welcomed the idea. By citing this survey as an example, experts emphasize that the virtual universe has a long way to go.