Grayscale, a leading cryptocurrency asset manager, seems to have set its gaze on the metaverse as a business opportunity.
Grayscale Metaverse Report Paints a Bullish Picture
The metaverse, an idea of an interconnected parallel virtual world, might represent a $1 trillion commercial potential in the future. According to Grayscale, one of the major crypto asset managers. Additionally, this conclusion comes from a research released by the firm yesterday titled “The Metaverse. Web 3.0 Virtual Cloud Economies,” which examines the potential of this endeavor for early investors.
Grayscale examines the metaverse as the start of a new paradigm that will catalyze a lot of innovation in Web 3.0 in this report. It says this about the potential that the metaverse can bring:
This picture of the web’s future state has the potential to change our social connections, economic dealings, and the internet economy as a whole.
The gaming business, according to the corporation, is one of the first addressable industries for this, with digital economies at the forefront of this drive. As initiatives like Decentraland, Axie Infinity, and The Sandbox have already demonstrated, games will evolve into something greater.
Payment networks, decentralized financial structures, NFTs, governance, and identity systems. For example are all potential business opportunities for metaverse efforts that would complement the interactions in these realms.
A Jab at Meta
The study also pokes fun at closed firms like Meta, previously Facebook, who are attempting to construct their own metaverse. It claims that in order to truly enrich their metaverse efforts, these closed Web 2.0 enterprises will need to evolve to interoperate with other companies. In this regard, the report emphasizes the following:
We don’t yet know which road Facebook will take with its Metaverse ambitions, but they, like other Web 2.0 firms, will have to make this difficult change in the face of shareholder pressure.
The paper claims that metaverse worlds have a bright future ahead of them. Additionally investments made now might pay off handsomely for corporations joining the market.