Is that $3 trillion in 10 years? Is that the value added to the economy with the metaverse?

According to new research, the metaverse could contribute $3 trillion (€2.8 trillion) to global GDP within a decade if it evolves in the same way that mobile technology has in terms of adoption.

According to the study, published by economic experts at international consulting firm Analysis Group, the expansion of the virtual world in Europe could mean a contribution of 1.7%-or $440 billion (€417 billion)-to the continent's economy in ten years.

According to the report, if mass adoption of metaverse technology began in 2022, it would contribute 2.8% to global GDP by 2031.

The metaverse, like mobile technology, is expected to have far-reaching societal applications, such as transforming economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.

The study used previous research on breakthrough technology to properly assess the metaverse's potential.

The analysis was carried out by first using prior successful technologies as a model – in terms of user adoption and GDP impact – and then applying that to the metaverse.

Researchers chose mobile technology as an analogy because of the similarities it has with the metaverse, specifically the ability to combine existing innovations to alter global technological and economic landscapes.

While it is still in its early stages, the metaverse of the future is expected to be a vast network of digital spaces enabled by other emerging technologies such as augmented reality, virtual reality, or mixed reality.

The study drew on academic literature on the life cycles of innovative technology as well as publicly available data on mobile technology adoption and its impact.

Asia will benefit the most.

According to the study, the Asia-Pacific region would benefit the most from the metaverse, with a 2.3 percent increase equating to $1.04 trillion (€993.9 billion) if implemented in 2022.

Canada had the lowest contribution, accounting for 0.9% of GDP after ten years, or $20 billion (€19.1 billion).

Last year, Facebook CEO Mark Zuckerberg coined the term "metaverse," renaming his company "Meta" and declaring it to be the future of both the Internet and his trillion-dollar social media company.

Other companies, such as Roblox, Nvidia, and Microsoft, have created virtual worlds using virtual or augmented reality technology in previous years.

Critics, on the other hand, have warned that rapidly evolving technology could cause harm, particularly in areas such as privacy, data hacking, desensitization, and other health concerns.