Ark Invest was founded by Cathie Wood.
Patrick T. Fallon is a photographer.
She's made big calls before, and she just made another one.
The founder and CEO of Ark Invest thinks the metaverse will be a multitrillion dollar opportunity that will impact every part of the economy.
She told Sara Eisen in a CNBC Pro Talk that it's a big idea that will probably infiltrate every sector in ways that we can't even imagine.
The metaverse is getting a lot of attention. It's a catch-all term that refers to various virtual worlds, where users in the form of anavatar can play games, work, and build things. People can earn and trade NFTs in some worlds.
The most well-known versions of the metaverse are games. A parcel of land in The Sandbox metaverse has just sold for $4.3 million.
Facebook has changed its name to Meta and is focused on building virtual worlds, which it thinks will be the future of the internet.
Wood said on CNBC that she thinks the metaverse can become a multitrillion-dollar market.
She said that the digital twins would enable a lot of fun and efficiency.
The investor said she thinks the metaverse will expand greatly, away from the current focus on gaming and consumer goods.
Execs at Playboy, Prada, and more are laying out their plans. The key findings from our analysis are listed below.
She pointed to the example of a company that makes maps that are very detailed for the benefit of industries such as water utilities. She thinks this is more than just a consumer idea.
Wood made big bets on fast-growing technology companies in 2020 and became a star investor. In 2020, Ark Invest's innovation exchange traded fund rose more than 140% as tech stocks soared.
Wood's bets have not been as successful as they could have been in 2021, as investors prefer stocks that do better when economic growth and inflation are strong. The Ark Genomic Revolution ETFs is down more than 30% for the year.
Many people are skeptical of the idea of a metaverse because people have played games in virtual worlds for a long time.
Raj Gokal, co-founder of solana, expressed concern about the metaverse being overhyped. I have never seen so much hype in mainstream media over an upcoming product.
Business Insider has an original article.
