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- Grayscale, a crypto investment firm, stated in research that the metaverse might provide a $1 trillion yearly revenue market potential, but did not identify a timescale
- People are spending more and more time online, and they are also spending money to improve their social status in digital domains, according to the firm
- The Metaverse is in its early innings, Grayscale said, compared to the $10 billion that firms like Facebook expect to invest, and the amounts that might follow from other corporations and venture capitalists
Grayscale, a crypto investment firm, stated in research that the metaverse might provide a $1 trillion yearly revenue market potential, but did not identify a timescale. The research is titled The Metaverse, Web 3.0 Virtual Cloud Economies, and it was released on Thursday. The paper examines the opportunities that will develop from the convergence of gaming and lifestyle trends with blockchain’s capacity to supply digital world infrastructure. According to Grayscale, projects like Decentraland allow users to engage, govern and earn tokens while also receiving real-world advantages for their time spent online. People are spending more and more time online, and they are also spending money to improve their social status in digital domains, according to the firm.
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According to Grayscale, revenue from virtual game worlds might reach $400 billion by 2025, up from $180 billion in 2020. When compared to spending on premium games, the vast bulk of the $400 billion will be spent in-game, according to the business. According to Grayscale, total crypto financing in Q3 was $8.2 billion, with $1.8 billion going to Web 3 and non-fungible tokens (NFTs). In the third quarter, fundraising for gaming apps outpaced all other NFT sectors, reaching over $1 billion.
The Metaverse is in its early innings, Grayscale said, compared to the $10 billion that firms like Facebook expect to invest, and the amounts that might follow from other corporations and venture capitalists. Grayscale’s Head of Research David Grider and Research Analyst Matt Maximo wrote the paper. Interconnected, immersive, 3D virtual worlds where individuals from all over the globe may mingle in real-time to establish a permanent, user-owned, internet economy spanning the digital and physical worlds, they characterized the metaverse as.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
