Crypto giant Grayscale says the metaverse is still in its infancy and predicts that the emerging tech sector will skyrocket to become a trillion dollar opportunity.
In a new report, Grayscale says the metaverse is intended to transform gaming with the advent of game-to-win platforms that allow users to convert their digital assets for use outside of gaming.
“This new paradigm allows users to own their digital assets as non-fungible tokens (NFTs), trade them with others in-game, and transport them to other digital experiences, creating a whole new internet economy. native free market that can be monetized in the physical world.
The asset manager adds that the potential of the metaverse extends beyond the boundaries of gaming.
âGaming is only one of the more immediately addressable segments where value is already starting to move naturally to Web 3.0, but the opportunity for the metaverse extends far beyond gaming. metaverse is a trillion dollar revenue opportunity in advertising, social commerce, digital events, hardware and developer / creator monetization …
Metaverse Web 3.0 economies can use their own digital currency, like MANA, or the currency of the Layer 1 core crypto cloud economy platform they are built on, like Ethereum (ETH) or Solana (SOL ).
Grayscale says the Metaverse has the potential to grow exponentially and compete with current tech titans like Facebook.
âThe market opportunity to bring the Metaverse to life can represent over $ 1,000 billion in annual revenue and can compete with Web 2.0 companies with a market value of around $ 15 trillion today. “
You can read Grayscale’s full report on the Metaverse here.
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