Following the emergence of MANA, SAND, and AXS, Grayscale estimates that the metaverse is a $1 trillion business

According to a new analysis by Grayscale, the metaverse has a $1 trillion economic potential.

Many individuals had little to no grasp of what the metaverse was or how it would work earlier this year, let alone the economic opportunities it offered.

Since Facebook changed its name to Meta and announced that the metaverse would be the new focus of its company, crypto enthusiasts and the rest of the world have begun to take a closer look at what the term means and the promise it contains.

According to Wikipedia, the metaverse is the merger of virtual and real locations and the virtual economy.

Described, the metaverse is a merging of the real and physical worlds with the virtual world, in which people may engage in activities that are comparable to those they engage in in the actual world. Individuals can own virtual products, items, and even “real estate” in the new virtual world, just as they do in the actual one.

According to Grayscale, the metaverse might be worth more than $1 trillion

Grayscale, a well-known digital asset management firm, has stated in one of its assessments that the metaverse’s economic prospects might exceed $1 trillion in the next several years.

The paper, titled “The Metaverse, Web 3.0 Virtual Cloud Economies,” stated that metaverse platforms had established a new online experience by integrating elements such as crypto tokens, NFTs, decentralized finance, and a slew of other crypto-related initiatives.

According to the report’s authors, users of metaverse-based wallets have surged by 10x since the beginning of the year, reaching about 50,000 active wallets. It went on to say that, while the space is still relatively young, it has the potential to become mainstream in the next years if it maintains its present development trajectory.

According to the research, investors are beginning to see the space’s huge potential, which has resulted in an increase in financing for the budding industry. According to the research, blockchain gaming and metaverse-related ventures raised $1 billion in new investment from investors in just the third quarter of this year.

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