Grayscale, a crypto investment goliath, released a report earlier this week on the opportunities the metaverse offers. According to the new report, titled “The Metaverse, Web 3.0 Virtual Cloud Economies,” the metaverse represents trillion-dollar market opportunity.
The concept of “metaverse,” has been gaining traction and extra attention from all sorts of investors in the past few weeks, especially since Mark Zuckerberg’s announcement about Facebook’s rebranding to “Meta.” The report claims that, observing the current pace of development, the metaverse has the potential to compete with Web 2.0 organizations that are worth around $15 trillion today.
“Compared to other Web 3.0 and Web 2.0 segments, Metaverse virtual world users are still in their early innings, but if current growth rates remain on their current trajectory, this emerging segment has the potential to become mainstream in the coming years,” Grayscale said.
The report highlights the opportunities that Web 3.0 can provide for gaming and lifestyle trends such as advertising, social commerce and creator monetization. Global revenue from gaming reached $180 billion in 2020, and is expected to grow to $400 billion by 2025. Q3 also saw phenomenal numbers in the crypto fundraising niche, with a total of $8.2 billion, $1.8 billion of which went to Web 3 and NFTs.
The report was compiled by Grayscale’s Head of Research David Grider and Research Analyst Matt Maximo. Find out more about blockchain-based metaverses in our guide over here.
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Ivelina is an NFT and Blockchain lover. She has a knack for putting complex concepts into simple words.