How It Started on 2022-06
In June 2022, McKinsey claimed that the Metaverse had the potential to generate up to 5 trillion (US Dollars) in value by 2030. Source: McKinsey’s website and report
Note the typical use of words such as “potential” and “could”, which means that the big number is just a wild guess pulled out of their collective asses to generate buzz. This type of unsubstantiated claim is exactly what leads to bubbles.
How I See It Going
To the best of my knowledge, even Mark Zuckerberg, who renamed his Facebook empire “Meta” and said the Metaverse was the future, has already admitted defeat, or at least has considerably scaled down his ambitions. The Metaverse is not new, Second Life was its first incarnation in 2003. Even if “experts” decide to label every single online activity as the Metaverse (e-commerce, social media, online gaming, browsing, etc.) it will not be worth 5 trillion Dollars in 2030. But at least you’ll have this site to remember this wild prediction.
How It Is Going as of 2023-10-05
You not spending much time in the Metaverse? Me neither.
How It Actually Went
Not there yet.