The Metaverse has attracted much attention and developed rapidly in recent years, and more and more companies have begun to deploy.

In June of this year, "Yingke", which started live broadcasting, officially changed its name to "Ying Universe", thus announcing the company's full-scale entry into the Metaverse; Byte acquired the virtual social company "Wave Particle Technology" and continued to deploy the Metaverse and so on.

Also in June, the international consulting giant McKinsey released the 4D Metaverse Report Value creation in the metaverse . The report conducted surveys and interviews with more than 3,400 consumers and 450 executives around the world, and analyzed the metaverse from multiple angles and aspects. It can make people better understand the value and potential of the metaverse , and can make corresponding strategies to promote the better development of the metaverse.

The report predicts that annual global spending by businesses and consumers related to the Metaverse could reach $5 trillion by 2030 . E-commerce in the metaverse will account for $2 trillion to $2.6 trillion of total spending, and virtual advertising will account for another $144 billion to $206 billion, McKinsey said.

Through this report, we can better understand the wind direction of the metaverse. Next, let's take a look at the issues at the heart of the original report.

Five core issues covered by the report :

Defining the undefined: What is the metaverse, really?

→ The concept and definition of the metaverse, what is the metaverse?

Following the money: What is driving investment?

→ The current investment situation in the Metaverse field, what drives the investment?

Scanning the horizon: How is consumer and business behavior evolving?

→ How are consumer and corporate business behavior changing?

Envisioning the potential: How significant could the metaverse’s impact be?

→ How might the metaverse affect us?

Moving at speed: How do you capture value, and what can you do today?

→ How should we capture value from the metaverse? What can we do today?

01 Defining the undefined: What is the metaverse, really? （P10-P17）

This part mainly discusses the definition of the metaverse, and analyzes the characteristics, development process and constituent elements of the metaverse.

The concept of "metaverse" has developed since its appearance and has not yet been clearly defined, and there are different opinions.

Since the metaverse itself is still developing, in order not to limit everyone's imagination of the metaverse, McKinsey did not make a very strict definition of the metaverse , but summarized some of its characteristics .

○ Basic Features :

Immersion; real-time interaction; user agent.

○ Other important features of the composition of the complete metaverse :

Interactivity across platforms and devices;

Concurrency of thousands of people interacting at the same time;

The usage scenarios are not limited to games, but cover many aspects of human activities.

Metaverse ≠ AR/VR, games, Web3, huge potential users

The report states that the composition of today's metaverse can be divided into four major categories, with a total of 10 layers.

02 Following the money:  What is driving investment? （P18-P28）

Currently, the development of the Metaverse is still in its infancy.

While many aspects of future development remain uncertain, that doesn't stop investors from being enthusiastic about the Metaverse. A large number of existing investors are optimistic about the future development of the Metaverse and are full of confidence in the Metaverse.

Among them, large technology companies, venture capital companies, and large corporate brands performed prominently.

○ Factors that drive investors to deploy the metaverse enthusiastically :

1. The continuous progress of technology, the development of back-end engine, edge computing, 5G, AR/VR and software development and other technologies.

2. Increased stakeholder readiness and rapid emergence of new other use cases such as AR/VR powered social media experiences, immersive retail, entertainment, sports and education.

3. Promotion of brand company activities, such as: Gucci, etc.

4. Consumer use, "use cases other than games have emerged", such as: medical, business, learning, etc.

5. Assist in the addition or improvement of enterprise solutions, such as: enhancing remote assistance, providing new learning and talent development opportunities, etc.

6. Activities of the government and other public sectors, such as: Metaverse Strategy in Dubai, Metaverse Seoul Basic Plan in Seoul, South Korea, etc.

7. User advantage, Generation Z is increasingly becoming an important force in social income generation, and these groups of people are just familiar with the Metaverse.

8. The formation of a global community of independent developers and creators and the explosion of individual content creators is a good sign for the Metaverse.

03 Scanning the horizon:  How is consumer and business behavior evolving? （P29-P35）

○ How consumers view the metaverse

About 60% of consumers are excited about the shift in their daily activities in the direction of the metaverse.

Consumers are looking forward to shifting a range of activities to the Metaverse .

About 79% of users who were active on the Metaverse made a purchase - enhancing the online experience.

○ How executives view the metaverse

Metaverse applications, adopters are looking for a variety of new capabilities, including content creation, corporate strategy, and cybersecurity.

In the future, cryptocurrency, AI and AR/VR technology will still be the three major technologies of the metaverse .

Additionally, executives highlighted uncertainty about revenue as a key hurdle.

04 Envisioning the potential: How significant could the metaverse’s impact be? （P36-P52）

○ Potential $5 trillion impact.

○ Potential industry impact - Various industries are already deploying the metaverse.

○ The Metaverse can impact value chains across industries including apparel, fashion and luxury goods, consumer packaged goods, financial services, retail, technology, and more.

05 Moving at speed: How do you capture value, and what can you do today? （P53-P56）

○ Develop business strategies to capture value

McKinsey believes that while the level of involvement of any company in the metaverse will vary, it is important that companies consider how the metaverse affects them, both positively and negatively , and strategize accordingly .

In addition, as an executive, you need to take the initiative to familiarize yourself with metaverse-related content so that you can understand the opportunities available; as a policy maker, you need to pay attention to the regulatory issues that exist and how the metaverse interacts with public construction and infrastructure. construction, etc.

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