Grayscale, an established cryptocurrency asset manager seems to be focusing its attention on the potential business opportunities in the metaverse. Grayscale released yesterday a report that looked at the viability of interconnected virtual worlds and the potential profit for investors. The area is expected to grow rapidly, with the possibility of becoming a $1 trillion industry in the very near future.
Grayscale Metaverse report paints a bullish picture
Grayscale is a leading manager of crypto assets and stated that the metaverse, which refers to an idea of an alternate, interconnected virtual world, may be worth $1 trillion. 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.
Grayscale describes the metaverse in this report as the beginning of a new paradigm that will drive innovation in Web 3.0. The report describes the many possibilities the metaverse has to offer:
This vision of the future web can transform social interaction, business transactions, and overall internet economy.
It states that the game industry is one of its first target markets. With digital economies leading the charge, this company claims. Projects like Decentraland (Axie Infinity), and The Sandbox already show that games can be much more than this.
There are other market opportunities available for metaverse projects, such as payment networks, decentralized financial structures, NFTs and governance. These would also complement interactions in these universes.
A Jab at Meta
This report takes aim at closed businesses such as Meta (formerly Facebook) and their attempts to make their own metaverse. To make their metaverse efforts more rich, these Web 2.0 closed companies will need to learn how to interact with other companies. The report emphasizes this:
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.
This report indicates that there’s a lot of potential for metaverse universes and suggests important opportunities for businesses to invest in them.
Grayscale has released a new metaverse report. What did you think? Please leave your comments below.
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