Metaverse is poised to contribute $760 billion to U.S. annual gross domestic product (GDP) by 2035, Reuters reports, citing a study from Deloitte commissioned by Meta.
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Analysts at the London-based international consulting giant say the metaverse may generate economic value in the defense, medical and manufacturing sectors in addition to video games and communication. Besides the US market, Meta said in another report, the European Union may boost its annual GDP up to $538.29 billion by 2035.
While Meta anticipates huge benefits for the global economy from the metaverse, the operating loss for Q1 2023 of Meta's metaverse-related division Reality Labs amounted to nearly $4 billion. Reality Labs' total losses for the past year amounted to $13.7 billion.
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