Study: Metaverse-related investments to reach $120B in 2022

The amount of investment being poured into the metaverse has already reached $120 billion through the first half of 2022, according to a new report from consulting firm McKinsey & Company.

Why it matters: The metaverse has yet to be truly defined, but that has not stopped the money flow. It will be a few years before we know whether this was a smart bet on the future or throwing cash into a digital black hole.