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ARTICLE · 22 AUGUST 2022

Metaverse Opportunities And Risks: What Your Business Should Know

Benesch, Friedlander, Coplan & Aronoff LLP
Benesch, Friedlander, Coplan & Aronoff LLP
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As investment in the metaverse grows, so does the number of business opportunities.

United StatesTechnology
Benesch Friedlander Coplan & Aronoff
Benesch Friedlander Coplan & Aronoff
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WHETHER YOU—OR YOUR CUSTOMERS—ARE ACTIVE IN THE METAVERSE TODAY, THE CHANCES ARE VERY GOOD THAT THE METAVERSE WILL HAVE AN IMPACT ON YOUR BUSINESS. THOSE WHO UNDERSTAND THIS NEW LANDSCAPE FOR BUSINESS WILL HAVE AN ADVANTAGE WHEN IT COMES TO SEIZING OPPORTUNITIES AND AVOIDING PITFALLS.

As investment in the metaverse grows, so does the number of business opportunities. Gauging this opportunity can be a challenge because the metaverse essentially represents a new market, and according to some, a new economy. This is a digital space that can replicate—or create—as many products and services as individuals and businesses are ready to support.

Perhaps for this reason, growth forecasts vary widely. The market opportunity for the metaverse could approach $800 billion by 2024, up from approximately $500 billion in 2020, according to Bloomberg Intelligence. McKinsey says the metaverse could even reach $5 trillion by 2030.

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