Five Values Created by the Metaverse

Source: Deloitte Insights 2022 No. 23 "Invitation to the Metaverse -- A Land of Opportunity." Five values that the metaverse creates: (1) Entertainment: the most immediately realized metaverse value; gaming, virtual concerts, social experiences, and immersive storytelling provide entertainment value that users are demonstrably willing to pay for; Roblox, Fortnite, and Minecraft demonstrate billion-dollar entertainment value created in virtual environments; the entertainment value is not conditional on full metaverse realization -- it exists now in current platforms; (2) Second Life (alternative identity and experience): the metaverse enables people to live experiences impossible in the physical world -- a person with physical disabilities can play sports in VR; a person in a rural area can attend a concert in a virtual Tokyo; someone who cannot afford luxury goods can dress their avatar in virtual designer clothing; the second life value is about expanding the range of human experience beyond physical and economic constraints; (3) Improving Real-World Efficiency: metaverse applications for training (VR simulations), design (digital twins), and collaboration (mixed reality meetings) create real productivity improvements in physical world work; Boeing using AR for aircraft assembly reduces errors 25%; medical training VR reduces surgical complications; these enterprise applications create measurable economic value; (4) New Wealth Creation: the creator economy in metaverse platforms enables people to generate income from virtual goods, experiences, and services; Roblox developers earning real income from virtual game creation; virtual fashion designers selling avatar clothing; the metaverse creates new economic opportunities particularly for digital natives with creative skills; (5) New Influence and Social Status: status signaling in the metaverse through avatar appearance, virtual real estate, and rare digital items creates new influence hierarchies; brands and individuals who establish presence and reputation in metaverse environments before they are fully mainstream will have first-mover advantage in metaverse social capital when adoption scales.