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Grayscale sees metaverse as potential $1 trillion business opportunity

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Grayscale, a leading cryptocurrency asset manager, seems to have set its gaze on the metaverse as a business opportunity.

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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.

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Michelle D. Madsen

Michelle D. Madsen graduated from the University of Westminster and has been deeply involved in the world of finance ever since. She has worked as a Broadcast Journalist hosting various news shows and informative webcasts about the financial markets. Since 2004 she has also been writing for Metanews daily, her attention to detail, and her in-depth knowledge of the financial markets have led her to cover Foreign Exchange and commodities. The world of finance has changed in the last few years with the introduction and rising popularity of cryptocurrencies. She has in no means been left behind, adding this to her bank of intellect and is now also an expert in cryptocurrencies. For the last ten years, Ms. Madsen has been engaged in the financial market. She has notedly written a great number of incredibly informative reviews for the crypto exchange and forex brokers. Her wealth of knowledge has enabled her to become a leading expert in the field. She continues to inform the public writing up-to-date, thorough reviews for the readers of Metanews as she has for the last decade.
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