The metaverse market is growing rapidly and is tipped to be the next big thing in the evolution of the internet. An increasing focus on converging the digital and physical worlds is driving companies from chipmakers to gaming to jump on the metaverse bandwagon. Tech giants have already been making massive investments to fuel their transition to the metaverse.
In addition, immersive metaverse technologies, such as augmented reality and virtual reality, non-fungible tokens (NFTs), and blockchain, have gained traction globally over the past few years. According to a Fortune Business Insight report, the metaverse market size is expected to reach $1.53 trillion by 2029, growing at a 47.6% CAGR.
