Global consumers and businesses are beginning to explore ways the metaverse can deepen connectivity and complement e-commerce. The global metaverse market is anticipated to grow from $39.25 billion in 2021 to $993.86 billion by 2030 at a compound annual growth rate (CAGR) of 43.20 percent over the forecast period 2022- 2030, according to the report by the market research company The Brainy Insights.

The ‘Global Consumer Report: Current and Future Shopping Trends’, a consumer survey conducted by open SaaS e-commerce platform BigCommerce in September 2022, also noted that nearly half (46 percent) of consumers in all countries are willing to buy into the metaverse. , and of those, 51 percent are interested in buying both virtual and physical goods.

Consumers and global businesses are…