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What the numbers say: A study by Sortlist, which involved 200 brands across Europe and the U.S. that had already ventured into metaverse investments, highlights that 17% of the companies considered metaverse projects a priority investment. Additionally, around one-third of the surveyed businesses revealed that their metaverse investments accounted for roughly 10% to 20% of their marketing or innovation budget. These findings highlight the increasing influence of the metaverse in shaping business strategies and resource allocation decisions. Relevance: These findings highlight the increasing influence of the metaverse in shaping business strategies and resource allocation decisions. The convergence of the pandemic's impact and the demand for digital transformation has fueled the interest in the metaverse as a viable business opportunity. Where to see the influence: According to a KPMG survey, 60% of TMT (technology, media, and telecommunications) executives believe that the metaverse has the potential to drive revenue, increase profits, reduce operating expenses, and enhance customer satisfaction by enabling interactive experiences and shifting transactions from physical to virtual. |
