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The metaverse has great potential, but investors are in no rush

Despite the buzz surrounding the metaverse, there is currently no major investment in this area
(photo: CC0 Public Domain)

Many of the business managers associated with technology, media and telecommunications, believe that the metaverse has a large potential to generate profits and reduce operating costs. But they are not yet ready to invest seriously in it, found a study conducted by the international consulting agency KPMG.

According to the report, nearly 60% of executives believe that using the metaverse will increase revenue and profits while reducing operational costs as companies shift from physical to virtual transactions.

Another positive effect that analysts expect from the metaverse is an increase in customer satisfaction through interactive interaction. These findings were drawn from a survey of 767 technology, media and telecommunications (TMT) executives from 13 countries on five continents with annual revenues of more than $250 million.

According to respondents, the metaverse still needs to be refined and developed. “The majority of TMT executives who participated in our survey believe that the metaverse will not become a thriving commercial ecosystem in a few years,” KPMG noted in its report.

40% of respondents would like to see evidence of return on investment in metaspace before investing heavily in the field. A number of leaders in the TMT sector are skeptical about the viability of the metaverse, with 27% calling it a pipe dream and another 20% calling it “a fad that will never live up to the hype”.

About half of respondents said their companies are still only “watching and waiting,” or evaluating the long-term business value of the metaverse. So it’s still too early to talk about big investments in the metaspace.

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