Grayscale Report Sees Metaverse as Potential $1 Trillion Business Opportunity
Grayscale, one the most prominent crypto asset managers, said that the metaverse, which is a concept of an interconnected alternative virtual world, could represent a $1 trillion business opportunity in the future. This conclusion was derived from the report entitled ‘The Metaverse. Yesterday’s release by the company, Web 3.0 Virtual Cloud Economys, analyzes the potential this initiative might have for early investors.
Grayscale describes the metaverse in this report as the beginning of a new paradigm that will drive innovation in Web 3.0. It describes the potential benefits that the metaverse could bring:
This vision of the future web can transform social interactions, business transactions, and the entire internet economy.
According to the company, the gaming industry is one of the most important markets that can be addressed. Digital economies are at the forefront of this effort. As projects such as Decentraland and Infinity and The Sandbox already show, games will become more than that.
There are other market opportunities for metaverse projects, such as payment networks, decentralized financial structures, NFTs and governance. These would also complement the interactions in these universes.
A Jab at Meta
This report takes aim at closed companies like Meta, which was formerly Facebook, for trying to create their own metaverse. These closed Web 2.0 companies will need to learn to work with other companies in order to make their metaverse endeavors more successful. The report emphasizes this:
While we don’t know yet what Facebook will do with their Metaverse ambitions but they, like other Web 2.0 companies, will need to make this difficult shift to meet shareholder pressures.
This report indicates that metaverse worlds have a bright future and that investments today could yield significant dividends to companies looking to enter the market.