Businesses' views about the metaverse

 

What the numbers say:  Based on the "Metaverse For Business" survey conducted by Sortlist among companies that have invested in the metaverse, more than 22% viewed the metaverse as "the future" regarding business prospects. A similar proportion of respondents regarded the metaverse as a realm brimming with opportunities for their businesses. Around 17% viewed the metaverse as a "new way of doing business," while 2% viewed it as "useless." Relevance: According to an extensive report by McKinsey titled "Value creation in the metaverse," the metaverse space has experienced a remarkable surge in investment over recent years. Corporations, venture capitalists, and private equity firms injected over $100B in the first five months of 2022 alone, surpassing the total investment of $57B for the entire year of 2021. Where to see the impact: Last year, Andreessen Horowitz launched Games Fund One, releasing $600M in venture capital to invest in game studios, metaverse infrastructure, and games. In Canada, financial institutions TD and RBC are conducting metaverse pilot programs to understand the technology and stay ahead of the game. In March last year, HSBC announced the purchase of land in The Sandbox. In 2022, Microsoft acquired the gaming giant Activision for $69B.