In McKinsey & Company's recent report, "Road to change value creation in the metaverse" which was launched in June 2022, the company revealed that the value of the metaverse could reach $5 trillion by 2030. The report further noted that online searches for “metaverse” increased by 7,200 percent last year, and metaverse online gaming platform Roblox reportedly had over 55 million daily active users in February 2022.
A recent report has estimated that the metaverse will be worth $5 trillion by 2030. The report cites various factors that they believe will contribute to this exponential growth, including the appeal of the metaverse to people of all genders, geographies, and generations. They believe that consumers are already spending on digital assets and that this trend the will continue.
According to the co-founder and CEO of AnamXR, Irene-Marie Seelig, many brands have yet to provide a solution for the largely shifted consumer behavior of adopting digital personas. She goes on to say that this opens up a whole new revenue model for brands that can supply digital assets like clothing. The metaverse report cited that two-thirds of consumers who have experienced the metaverse found that 80 percent appreciate shared virtual experiences with friends and family, 63 percent prefer virtual work meetings, and 59 percent enjoy virtual education sessions more than in-person ones.
As the metaverse continues to grow in popularity, so too does the opportunity for companies to create branded virtual experiences. However, the metaverse is also becoming a more attractive target for criminals looking to launder money.
According to Elliptic research, the Metaverse is becoming a more alluring liquidity venue for criminals trying to launder money. That said, money laundering is not restricted to just the Metaverse.
Crimes like money laundering have increased by nearly 30% in the cryptocurrency market, according to a report by Blockchain data firm, Chainalysis. While some people see Web3 and the metaverse as succeeding the current internet paradigm, others view them as two separate entities that just happen to coexist. However, both sides can agree that money laundering is one of the most notable crimes in the crypto market.
Sourced from Mashable India