The metaverse has been in the news for several weeks now, and is attracting increasing interest from the luxury sector. According to a recent report by Morgan Stanley, the industry can expect an additional $50 billion in sales by 2030 thanks to the development of digital demand.
Although still at relatively low levels, digital sales and demand are increasingly popular among buyers. In the luxury sector, a sharp increase is expected, which is expected to be the source of an additional $50 billion in sales by 2030 according to Morgan Stanley.
“Revenue streams from digital media for luxury brands are negligible, but we believe this is about to change,” Morgan Stanley investment bank strategists wrote in a note on Tuesday. “The metaverse will likely take many years to develop. However, NFTs and social gaming, such as online games and concerts attended by people’s avatars, present two near-term opportunities for luxury brands.”
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