Market Analysis

Metaverse Represents Over $1 Trillion Opportunity – Grayscale Report.

According to a new Grayscale study, the number of active metaverse users surged tenfold between the beginning of 2020 and June 2021.

Grayscale, crypto investing firm, has released a positive analysis on metaverses, claiming that the “market potential” for bringing the metaverse to the mainstream in the next few years may be worth over $1 trillion.

Grayscale’s chief of research David Grider and research analyst Matt Maximo co-authored the November study “The Metaverse, Web 3.0 Virtual Cloud Economies.” The pair looks at the developing industry mostly through the lens of open metaverse worlds powered by an “interconnected crypto-economy” like Decentraland.

Metaverse platforms that mix crypto tokens, decentralized financial services like staking and lending, nonfungible tokens (NFT), decentralized governance, and decentralized cloud storage, according to the research, have “built a new online experience” that is fast drawing new users.

It was discovered that the user base has expanded by 10x since the start of 2020, to roughly 50,000 as of June 2021, after analyzing “global all-time active metaverse wallets” data.

The research points out that there are plenty of venture investors willing to take a chance on the sector’s potential. In Q3, $1 billion was raised for blockchain gaming, according to the study. This accounted for 12% of the whole crypto sector’s gross fundraising in the quarter, making it the “leading sub-sector” inside the Web 3.0 and NFT category.

Global income from virtual world gaming reached $180 billion in 2020, with “premium spending” accounting for roughly $40 billion, according to forecasts. By 2025, the sector is expected to generate more than $400 billion, mostly due to the in-game spending model.

Because of the play-to-earn potential, the report claims that this shift is “accelerating further with the transition from Web 2.0 closed corporate Metaverses to Web 3.0 open crypto Metaverse networks.”

“Virtual Worlds in the Web 3.0 Metaverse have profited from fast innovation and productivity increases. “By abolishing capital limitations and exposing their digital boundaries to free-market capitalism, crypto virtual worlds have generated a multi-billion dollar main and secondary market for producers and asset owners,” according to the paper.

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