Still, misconceptions abound about what the metaverse is—and isn’t.

What the metaverse does present is a big opportunity for tech companies. Understanding its four core building blocks is key to capturing value.

That value could reach up to $5 trillion by 2030. Metaverse investments this year alone have surpassed $120 billion—more than double the 2021 level.

Companies looking to make their mark in the metaverse shouldn’t wait—testing in it will be important to creating a space that users choose to engage with regularly.

As the metaverse evolves, leaders should keep an eye on Web3—its foundational technology, blockchain, will facilitate much innovation in the metaverse.