The 2022 bear market had a negative impact on the excitement surrounding the development of sub-ecosystems within the crypto market, such as non-fungible tokens (NFTs). However, the long-term potential for disruption in the Metaverse, a virtual space where people can interact with each other and digital objects, remains strong.
A report from McKinsey & Company estimates that the Metaverse could potentially generate up to $5 trillion in value by 2030 due to its potential to be used in a variety of consumer and business applications.