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| • | What’s real? People’s digital lives are just as meaningful as their real lives, claims one philosopher. Reuniting with family members by videoconference can be touching. Bullying on social media involves real emotions and consequences. Investing in cryptocurrency leads to real money being gained or lost. As everyone spends more time online, it’ll become even more important to discuss the nature of reality. Yet if consumers can have meaningful experiences in the metaverse, digital worlds can be just as real as anything else. [NYT] | | | | • | India’s first metaverse influencer. Meet Kyra. She’s 21 years old, has around 100,000 followers on social media, and calls herself a “dream chaser, model, and traveler.” Oh, and she’s rendered entirely in CGI. Brands are using virtual influencers like Kyra to market their products, promote events, and support social movements. Consumers engage with digital influencers more frequently than with their human counterparts, but some experts are concerned that digitally enhanced images will perpetuate body image issues. [Quartz] | | | | • | Real-world benefits. The metaverse is still being developed, but its real-world benefits are already coming to light. Leading brands are using metaverse platforms to increase consumer loyalty and build community around digital goods, such as virtual clothing and NFT art. One sportswear company’s recent NFT collaboration led to sales of more than $100 million, and millions of gamers are regularly attending virtual concerts. It’s no wonder that investors have poured more than $120 billion into metaverse projects in the first five months of 2022. | | | | • | Excited and engaged. Consumers are already engaging with the metaverse in many ways, finds a McKinsey survey of more than 3,400 consumers and executives. They’re most excited about connecting with people through virtual immersive experiences and exploring digital worlds. Executives are also keen on metaverse opportunities, with around 95% expecting the metaverse to affect their industry positively within five to ten years. Explore the skills, technologies, and strategies needed to unleash the full potential of the metaverse. | | | | — Edited by Belinda Yu | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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