Will Metaverse Be Worth $5T!? Yahoo's Metaverse And NFT-related Events

The metaverse could be worth US$5T by 2030. Yahoo launches metaverse and NFT-related events in Hong Kong. Words With Friends co-founder launches Web3 gaming studio.

Key Takeaways

In a 77-page report titled “Value Creation in the Metaverse” published by consulting firm McKinsey on Tuesday, it was found that global spending in the metaverse could reach US$5T by 2030. The report drew insight from two surveys conducted with over 3,500 participants across 11 countries.
Major companies are increasingly embracing the metaverse, with web services provider Yahoo launching a series of metaverse and NFT-related events in Hong Kong, such as virtual events, concerts, and exhibitions in the Decentraland metaverse.
Words With Friends co-founder Paul Bettner has launched a new subsidiary of Playful Studios named ‘The Wildcard Alliance’. Its focus is on Web3 game development, which has so far raised US$46M in Series A funding. Their first project is titled “Wildcard”, a multiplayer collectible card game.
The total market cap for GameFi tokens now stands at US$7.08 billion, down -24.76% from last week.