Suddenly, the metaverse is in the zeitgeist, for better or worse. Investment more than doubled in 2022 powered by big moves (such as Microsoft’s $69 billion acquisition of Activision Blizzard, now under antitrust review) and small ones (about $12 billion to $14 billion of venture capital and private equity investment). In this article, we’ll briefly summarize the reasons for optimism and the factors that suggest the metaverse is truly a CEO issue. We’ll also look at the significant obstacles that will have to be overcome if the metaverse is to realize its full potential. We’ll conclude with a suggestion of three steps that CEOs in several sectors—both consumer and enterprise—could consider to make sure the metaverse train, if and when it gets going, does not leave the station without them.
