Nigeria : Metaverse ecosystem market to hit $2t by 2030

“As more areas of our lives cross over into these virtual ecosystems, larger portions of our expenditures in media and entertainment, spend on advertising, etc. will be classifiable as metaverse opportunity,” he explained.
  
Therefore, many of the issues faced by companies within these fields will also be experienced by the metaverse in the future, he suggested. These include economic and political factors, as well as inner-market perceptual issues and data privacy concerns.
   
For example, Inouye pointed to consumers rejecting the concept of non-fungible tokens (NFTs) – regarded as intrinsically connected to the future metaverse –as an “an area that could slow the progression of the metaverse”. Similarly, the ban of cryptocurrencies in some countries and regulations restricting certain elements of Web3 could also hamper the growth of the metaverse. “There is certainly a lot that must be settled before we get to a unified metaverse,”
  
Finally, according to ABI Research’s findings, consumer education will also be key for the development of the virtual space, with big-name players Meta, Google, Microsoft, Tencent, Epic Games and Apple expected to play critical roles when it comes to delivering content and services.
  
Compute and infrastructure companies, such as Intel, Qualcomm and Nokia, which will enable these experiences, will also play an important role in the metaverse.
 
“While the opportunity is certainly there because so much must happen between now and a full metaverse future, for the time being, I’m holding more conservative expectations (and classifications) on what is directly metaverse driven versus just evolutionary changes to pre-existing markets,” Inouye noted, adding: “If, however, the pieces fall into place faster and better than expected, this could certainly accelerate the curve” and could mean the $2 trillion revenue is achieved by the end of the decade.