Grayscale, a leading cryptocurrency asset manager, appears to have set his sights on the metaverse as a business opportunity. Yesterday the company released a report examining the feasibility of this interconnected virtual world and how these economies can be a profitable entry for investors, given that this field could grow into a $ 1,000 billion business in the near future.
Grayscale Metaverse report paints a bullish picture
Grayscale, a leading crypto asset manager, said the metaverse, a concept of an alternate, interconnected virtual world, could be a $ 1,000 billion business opportunity going forward. This conclusion is drawn from a report entitled “The Metaverse. Web 3.0 Virtual Cloud Economies ”, published yesterday by the company, where it analyzes the potential that this initiative could have for the first investors.
In this report, Grayscale describes the metaverse as the start of a new paradigm, which will launch many innovations in Web 3.0. About the possibilities that the metaverse can bring, he states:
This vision of the future state of the Web has the potential to transform our social interactions, our business relationships, and the Internet economy in general.
The company says one of the first addressable markets for this is the gaming industry, with digital economies at the forefront of this load. Games will become more than that, as projects like Decentraland, Axie Infinity and The Sandbox are already showing.
But there are also other exciting market opportunities for metaverse initiatives, including payment networks, decentralized financial structures, NFTs, governance, and identity systems that would complement interactions in these worlds.
A blow to Meta
The report also tackles the iteration of the metaverse that private companies like Meta, formerly Facebook, are trying to create on their own. He specifies that these closed Web 2.0 companies will have to evolve to interact with other companies in order to really enrich their attempts at metaverse. In this sense, the report underlines:
We don’t yet know which path Facebook will take with its Metaverse ambitions, but like other Web 2.0 companies, they will have to make this difficult change in the face of pressure to achieve quarterly results for shareholders.
The report suggests that there is a great future for the metaverse worlds, and that investments made in this regard today could pay large dividends for companies entering the market.
What do you think of the latest Metaverse report released by Grayscale? Tell us in the comments section below.
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