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  <p class="is-style-lead">The global metaverse market is projected to grow massively, reaching $322 billion by 2030, according to a report by ResearchAndMarkets.</p> 
  <h2 class="wp-block-heading" id="massive-growth-potential">Massive growth potential&nbsp;</h2> 
  <p>According to ResearchAndMarkets’ latest <a href="https://www.businesswire.com/news/home/20230710283306/en/Global-Metaverse-Market-Projected-to-Surge-to-322-Billion-by-2030-Increasing-Demand-for-Immersive-and-Engaging-Experiences-Drives-Growth---ResearchAndMarkets.com" target="_blank" rel="noopener noreferrer nofollow">report</a>, the metaverse market was valued at around $42.05 billion during the 2021 bull market. However, the report notes that this figure is expected to grow to $322 billion in the next seven years.</p> 
  <p>The growth will happen due to the current increase in demand for <a href="https://crypto.news/lionsgate-autograph-and-twisted-pictures-collaborate-with-internet-game-to-unveil-immersive-games-for-halloween/" rel="noopener noreferrer nofollow">immersive experiences</a>, the rapidly growing blockchain gaming industry, and the continuous increase in blockchain adoption, ResearchAndMarkets suggests.</p> 
  <h2 class="wp-block-heading" id="segmenting-the-metaverse-market">Segmenting the metaverse market</h2> 
  <p>The global metaverse market is categorized based on type (mobile and desktop metaverses), technology (blockchain, virtual reality (VR), augmented reality (AR), and mixed reality), application (gaming, online shopping, content creation, social media, etc.), and region in the report.&nbsp;</p> 
  <p> You might also like: <a href="https://crypto.news/uae-economy-ministry-sets-up-the-first-metaverse-office-setup-in-dubai/" rel="noopener noreferrer nofollow"> UAE economy ministry sets up the first metaverse office in Dubai </a> </p> 
  <p>It further notes that the increasing demand for immersive and engaging experiences is a major driver of the development of the metaverse.&nbsp;</p> 
  <p>As people seek new ways to interact with <a href="https://crypto.news/walmart-taps-into-the-metaverse-by-launching-two-experiences-on-roblox/" rel="noopener noreferrer nofollow">digital environments</a> and each other, the metaverse provides a platform to fulfill these desires. Notably, the <a href="https://crypto.news/dappradar-report-blockchain-gaming-revenue-rose-in-may-as-investment-soar-to-476-million/" rel="noopener noreferrer nofollow">gaming industry</a> plays a significant role in propelling the metaverse market forward. </p> 
  <h2 class="wp-block-heading" id="technical-hurdles-and-regulatory-uncertainty">Technical hurdles and regulatory uncertainty</h2> 
  <p>Despite the metaverse’s potential, the researchers have <a href="https://www.researchandmarkets.com/reports/5805512/global-metaverse-market-size-share-growth" target="_blank" rel="noopener noreferrer nofollow">made it clear</a> that several challenges must be addressed. Technical obstacles such as data storage, bandwidth, and computing power are crucial hurdles requiring substantial infrastructure and technology investment.&nbsp;</p> 
  <p>Additionally, the metaverse operates in an <a href="https://crypto.news/interpol-announces-first-metaverse-for-law-enforcement-agencies/" rel="noopener noreferrer nofollow">unregulated</a> space, creating uncertainties for companies aiming to develop and deploy products and services. Regulatory clarity and guidelines are needed to foster innovation and encourage further investment in the metaverse market.</p> 
  <h2 class="wp-block-heading" id="metaverse-trends">Metaverse trends</h2> 
  <p>The metaverse market is still <a href="https://crypto.news/fidelity-investments-files-three-metaverse-trademark-applications/" rel="noopener noreferrer nofollow">attracting</a> significant investments from venture capitalists and other investors, fueling the development of new products and services within the virtual world, despite the current market conditions.</p> 
  <p>Various real-world companies have <a href="https://crypto.news/kelloggs-files-for-12-trademarks-that-may-connect-to-metaverse-tech/" rel="noopener noreferrer nofollow">recognized</a> the potential of the metaverse and are actively exploring its possibilities. Hong Kong-based venture capital and software developer company <a href="https://crypto.news/animoca-brands-and-lympo-partner-with-ufc-champion-rose-namajunas-for-nfts/" rel="noopener noreferrer nofollow">Animoca Brands Corp</a>, for instance, recently completed a funding round for metaverse projects, raising $1 billion.&nbsp;</p> 
  <p>In September 2022, Walmart Inc. <a href="https://crypto.news/walmart-taps-into-the-metaverse-by-launching-two-experiences-on-roblox/" rel="noopener noreferrer nofollow">established</a> immersive metaverse experiences on Roblox, introducing Walmart Land and Walmart’s Universe to Play, engaging customers in interactive virtual space.</p> 
  <p>FIFA, the worldwide soccer authority, is <a href="https://crypto.news/fifa-files-metaverse-related-trademarks/" rel="noopener noreferrer nofollow">stepping into</a> the futuristic world of the metaverse. As part of its “WE ARE” initiative, FIFA has recently submitted trademark applications related to this digital realm. Showing their growing fascination with virtual reality (VR), the Federation Internationale de Football Association (FIFA) has sought trademarks in nine new categories. </p> 
  <h2 class="wp-block-heading" id="metaverse-project-rankings">Metaverse project rankings</h2> 
  <p>Cryptocurrencies play a crucial role in the metaverse ecosystem. According to <a href="https://www.coingecko.com/en/categories/metaverse" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>, the top five metaverse crypto projects by market capitalization include internet computer (ICP) with 1,802,920,767, The sandbox (SAND) with $779,364,602, render (RNDR) with $722,932,538, decentraland (<a href="https://crypto.news/decentraland-mana-price-rose-72-in-a-week-as-new-features-unfold/" rel="noopener noreferrer nofollow">MANA</a>) with $711,773,440, and axie infinity (AXS) with $675,653,244 in market capitalization, with the global metaverse market cap reaching $6.83 billion at the time of writing. </p> 
  <p> Read more: <a href="https://crypto.news/metaverse-and-blockchain-boost-north-american-digital-gaming-markets/" rel="noopener noreferrer nofollow"> Metaverse and blockchain boost North American digital gaming markets </a> </p>
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Global metaverse market could reach $322 billion by 2030, research shows

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