Cathie wood, Ark Investment Management’s CEO, believes that the metaverse could become a multitrillion dollar market. “It’s a big idea that will probably infiltrate … every sector in ways that we cannot even imagine right now,” she said.
Cathie Wood Thinks The Metaverse is a Multitrillion Dollar Opportunity
Cathie, Ark Investment Management’s CEO (Ark Invest), shared her predictions about the metaverse during a conversation with CNBC. The metaverse is a multitrillion dollar opportunity which will affect every sector of the economy, she explained.
Ark Invest CEO opined that:
It’s a big idea that will probably infiltrate, just like technology is, every sector in ways that we cannot even imagine right now.
Since social media giant Facebook changed its name, Meta, metaverses have gained much popularity.
Wood was asked if she believed the metaverse could become a multitrillion dollar market. She simply replied, “We do.”
Ark Invest’s CEO, David Ark, stated that there will be a significant shift in the focus of the metaverse away from current gaming and consumer goods.
We’re going to have our digital twins, and it’s going to enable a lot of fun and a lot of efficiencies.
Recently, Grayscale Investments published a report stating that “The market opportunity for bringing the metaverse to life may be worth over $1 trillion in annual revenue and may compete with Web 2.0 companies worth ~$15 trillion in market value today.”
Last week, Bank of America’s strategist said that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies.
Some are skeptical of the idea. It was pointed out by them that many people have enjoyed virtual world games for years. This suggests that the metaverse isn’t revolutionary. Raj Gokal, co-founder of Solana Labs, tweeted last week: “I worry that the metaverse is overhyped (industry-wide). I haven’t seen this much hype in mainstream media over an unreleased product or category of products, maybe ever.”
Cathie Wood: Do you think the metaverse could become a multitrillion-dollar marketplace? Leave your comments below.
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