Leadership In The Metaverse Era

University of Miami Digital Strategist, Institute SEI Founder, Revexpo Consulting Founder, CEO Softhread, Ethicist, Innovator.

The metaverse continues to not only capture the attention of various international organizations but also attract a high amount of investment dollars and act as a catalyst for the entrepreneurship ecosystem. While some experts consider it a concept and others see it as a movement or escape, the CAGR and market size it is estimated to reach clearly signal it to be a product and a service poised to disrupt the human-computer experience as we know it. The metaverse global market, which was valued at $22.79 billion in 2021, is expected to grow at a compound annual growth rate (CAGR) of 39.8% from 2022 to 2030.

As defined by XR Today, the metaverse is a simulated digital environment that integrates VR/XR/AR and social media concepts “to create spaces for rich user interaction.” World Economic Forum describes it as a “future-persistent and interconnected virtual environment where social and economic elements mirror reality.” At this stage, multiple individual metaverses are being built; however, it is expected that they will likely coalesce into one global metaverse. Nvidia has also defined another concept and branded it as the omniverse, defining it as “an easily extensible platform for 3-D design collaboration and scalable multi-GPU, real-time, true-to-reality simulation.”

Global Drivers Of The Metaverse

There are several global drivers that influence the design and deployment of the metaverse, including scientific and technological advancements, changing population demographics, social and cultural reconfiguration and the rise of novel economies. An increased focus on upholding human rights and regulatory guidelines, as well as increased ESG-tied investments, are also at the top of the agenda for boards, C-suite leaders and key stakeholders worldwide. There are even several universities worldwide that are offering metaverse education such as AR/VR/XR technology skills.

While the digital transformation aspect is crucial for creating a viable business of the metaverse, leaders also have to balance all other competitive threats and expectations from…