by Sergio Goschenko
Grayscale, a leading cryptocurrency asset manager, seems to have set its gaze on the metaverse as a business opportunity. Yesterday the company released a report where it examined the feasibility of this interconnected virtual world and how these economies can provide a profitable entry for investors, considering this area could grow to be a $1 trillion business in the near future.
Grayscale, one of the leading crypto asset managers, stated that the metaverse, a concept of an interconnected alternate virtual world, could be a $1 trillion business opportunity for the future. This conclusion is derived from a report titled “The Metaverse. Web 3.0 Virtual Cloud Economies,” issued by the company yesterday, where it analyzes the potential that this initiative could have for early investors.
In this report, Grayscale profiles the metaverse as the start of a new paradigm, that will kickstart much innovation in Web 3.0. About the possibilities that the metaverse can bring, it states:
This vision for the future state of the web has the potential to transform our social interactions, business dealings, and the internet economy at large.
The company states that one of the first addressable markets for this is the gaming industry, with digital economies at the forefront of this charge. Games will grow to be more than just that, as projects like Decentraland, Axie Infinity, and The Sandbox are already showing.
But there are also other interesting market opportunities for metaverse initiatives, including payment networks, decentralized finance structures, NFTs, governance, and identity systems that would complement the interactions in these worlds.
The report also takes a jab at the metaverse iteration that closed companies such as Meta, formerly Facebook, are trying to create by themselves. It states that these closed Web 2.0 companies will have to evolve to interoperate with other companies to really make their metaverse attempts richer. In this sense, the report stresses:
We don’t yet know the path Facebook will take with their Metaverse ambitions, but they—like other Web 2.0 companies—will need to make this challenging shift in the face of pressure to meet quarterly results for shareholders.
The report suggests there is a big future for metaverse worlds, and that investments made in this regard today might yield important dividends for companies entering the market.
What do you think about the latest metaverse report issued by Grayscale? Tell us in the comments section below.
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by Sergio Goschenko