The metaverse continues to expand, with industry giants and upcoming players racing to seize a slice of the potentially trillion-dollar pie. Close to $2 billion was invested in blockchain-based metaverse deals in 2022, according to Cointelegraph Research’s Venture Capital Database.
A 2022 report by McKinsey estimated the metaverse industry to potentially generate up to $5 trillion in revenue by 2030, a number overtaken by Citi’s forecast of $8 trillion to $13 trillion. These estimations reflect significant growth from the global metaverse market of $65.5 billion recorded in 2022. To realize these optimistic forecasts, the metaverse industry would need to sustain an impressive 85% compound average growth rate.
Investors will never guess which metaverse won Cointelegraph Research’s 2023 Ranking of Metaverses. The winning blockchain-based metaverse enables the ownership of in-game assets, has over $61 million in value locked in its smart contracts and over 8,000 monthly users, and features a deflationary token model. To learn more about the project, read Cointelegraph Research’s new “The Hitchhiker’s Guide to the Metaverse” report.
