While the 2022 bear market tapped into the excitement around fledgling crypto sub-ecosystems such as non-fungible tokens (NFTs), the Metaverse remains well positioned for long-term disruption. Considering the myriad of consumer and business-focused use cases that the metaverse could serve, a report from McKinsey & Company highlights the potential for the technology to generate up to $5 trillion in value by 2030.

For the Metaverse to reach its full potential, the report highlighted the need for four technology enablers: devices (AR/VR, sensors, haptics, and peripherals), interoperability and open standards, enabling platforms, and development tools. However, the success of the Metaverse is hampered by an increased focus on maximizing the human experience with the goal of delivering positive experiences for…