Facebook has created a number of images to show how its metaverse might look.
Facebook.
According to a new report from Grayscale, the metaverse has the potential to become a $1 trillion annual revenue opportunity.
The report was released on Wednesday night and came during a surge in interest in the metaverse after Facebook changed its name to Meta.
There have been indications of the potential size of the metaverse economy this week, with parcels of virtual land in Decentraland and AxieInfinity selling for more than $2 million.
The metaverse is a range of online 3D virtual environments in which people can play games, build things, socialize, work and even trade.
The most popular individual metaverses right now are in gaming, with the likes of Roblox and Fortnite. Revenue from virtual gaming worlds could grow to $400 billion by 2025, according to Grayscale.
Grayscale said the metaverse is still in its early stages. It said that Facebook's plans to spend $10 billion on the metaverse is a sign of the market's potential.
The market opportunity for bringing the Metaverse to life may be worth over $1 trillion in annual revenue, according to the report.
The report's authors argued that the metaverse is a huge opportunity for the companies that use it.
The office won't be changed by the metaverse. It could create new ways of earning money.
Virtual realities and games are run by so-called Web2 companies, which are centralized and operate for profit. Facebook has launched a virtual reality space.
Users can earn money in the real world with the help of metaverse projects, which are created on or are tied to the use of cryptocurrencies. The Web3 metaverse is a collection of stories.
There are opportunities for monetization of consumers in the Web3 metaverse. There are art galleries, games, casinos, and music venues where DJs and artists hold concerts.
Out of the $8.2 billion raised in the third quarter, Web3 and NFT raised the most. Investment has recently started to accelerate.
Grayscale focused on Decentraland. In the metaverse, people play games, earn native Cryptocurrencies, purchase virtual land and collectibles, and vote on the governance of the economy.
A trust that invests in Decentraland was created by the company. According to Coingecko, the coin is up around 550% in the last 30 days.
Business Insider has an original article.
