Sure Blog

Latest Events in the Crypto Industry

The Red Hot Metaverse Space May Soon Reach $1T Market Value, Grayscale Reports

Metaverse is a whole new paradigm paving the way for yet another exciting investment frontier. Grayscale Investments, the world’s largest digital asset management firm, believes that the industry will be valued at over $1 trillion in the next few years.

According to the latest research report by the company titled ‘The Metaverse, Web 3.0 Virtual Cloud Economies,’ at the current pace, it has the potential to compete with Web 2.0 organizations that are worth around $15 trillion today.

This appeal has resulted in several companies, such as the social media giant Facebook to pivot towards this new realm. Grayscale also pointed out that Mark Zuckerberg’s plans may serve as a catalyst, and other tech giants and investors of Web 2.0 may follow in their footsteps.

Web 3.0 Open Crypto Metaverse Networks Opportunities

Gamers today lack the ability to monetize their investments and efforts. Transfer of players’ in-game wealth to the real economy is something that is prohibited by the developers in the Web 2.0 closed corporate metaverse worlds. But Web 3.0 open crypto metaverse networks plan on getting rid of the capital controls imposed on these virtual worlds by the Web 2.0 companies.

Here’s where non-fungible tokens come into the picture. A system such as this in place would let players own their digital assets as NFTs, trade them with other game players. Users can also carry their tokens to other digital experiences, which, in turn, would result in a new “free-market internet-native economy.”

Metaverse Explosion

Even though the gaming sector is the first thing that comes to mind when talking about Metaverse, the realm has so many more segments to disrupt. According to the report by the investment giant, the opportunity for Metaverse extends far beyond gaming. Across other avenues such as advertising, social commerce, digital
events, hardware, and developer/creator monetization, it may be worth over an astonishing trillion-dollar.

If the latest stats are to be taken into account, the total market cap of the prominent Web 3.0 Metaverse crypto networks is already more than $27 billion. But soon, the Metaverse may emerge as a disruptor of Web 3.0, similar to how Facebook changed Web 2.0.

The on-chain metrics depict a rapid growth in terms of Web 3.0 Metaverse virtual world users. The report showed that the number of Metaverse wallets had established a new peak in the last quarter of 2021, with nearly
50,000 all-time users, meaning an approximately 10x growth since the beginning of 2020.

Developers, third-party creators, and users are seeing real-world value being created by the Web 3.0 Metaverse virtual worlds.

Source:Cryptopotato