Value creation in the Metaverse.”With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore.”

The metaverse is still being defined, both literally and figuratively. Yet its potential to unleash the next wave of digital disruption seems increasingly clear, with real-life benefits already emerging for early adopting users and companies.

As we saw in previous shifts in technology such as the emergence of the internet followed by social media, mobile, and cloud, novel strategies can quickly become table stakes. The metaverse has the potential to impact everything from employee engagement to the customer experience, omnichannel sales and marketing, product innovation, and community building. Examining its potential effect should be part of strategy discussions, with leaders accelerating their analysis of how the metaverse could drive a very different world within the next decade. Of course, many questions remain, including how virtual worlds will be balanced with the physical world to ensure the metaverse is built in a responsible manner, how it can be a safe environment for consumers, how closely it will align with the “open” vision of the next iteration of the internet, and whether technology can advance quickly enough to build the metaverse of our imagination.

Feel free to download the McKinsey report that examines the metaverse’s building blocks, investment flows, and what is driving them, and how consumer and business behavior is evolving, its potential economic impact, and actions leaders should consider to capture value.