Crypto-investment giant Grayscale has published a bullish report on meta-verses, estimating that the “market opportunity” to bring the meta-verse into the mainstream may be worth more than $ 1 trillion over the next few years.
The November report, “The Economics of Virtual Cloud on the Web 3.0 Metaverse,” was written by Grayscale’s head of research David Grider and research analyst Matt Maximo. The duo explores the thriving sector primarily from the perspective of open transfers backed by a “connected crypto-economy” such as Decentraland.
The report highlights that metaverse platforms combined with cryptocurrencies, decentralized financial services such as staking, lending, non-fungible tokens (NFT), decentralized management and decentralized cloud storage have created a new online experience that quickly attracts new users.
By analyzing data for “globally active metaverse wallets” since the beginning of 2020, I find that the user base has grown 10 times since then to settle at around 50,000 from June 2021.
“Compared to other Web 3.0 and Web 2.0 segments, Metaverse users are still in their infancy, but if current growth rates remain on their current trajectory, this emerging segment is likely to become mainstream in the coming years.”
The report emphasizes that there is no shortage of venture capitalists investing in the sector’s potential. According to the report, blockchain game donations totaled $ 1 billion in the third quarter. It represented 12% of the total collection for the entire crypto sector in the quarter, making it the “top sub-segment” in the Web 3.0 and NFT category.
The researchers note a set of key dynamics that can significantly contribute to the growth of the metaverse sector, including an increase in average leisure and money spent on digital hobbies, a culture shift from premium games to free games, and Web 3.0 innovations such as. games to earn.
Global revenues from virtual world games totaled $ 180 billion in 2020, with “premium spending” around $ 40 billion, with an estimate that the sector could attract more than $ 400 billion by 2025, primarily driven by the game’s consumption model.
The report argues that this transition “further accelerates with the transition from Web 2.0 for Closed Metaversees to Web 3.0 Open Crypto Metaverse Networks” due to the profit games it represents.
«Web 3.0 Metaverse has benefited from rapid innovation and productivity gains. Virtual cryptocurrencies have created a multi-million dollar primary and secondary market for creators and assets by freeing up capital and opening their digital frontiers to free market capitalism. ”
Related: Altcoins of the Metaverse and Blockchain on the rise when Bitcoin looks for support
The all-coins of open metaverse platforms such as Decentraland (MANA) and Sandbox (SAND) have seen a ripple recently, reaching 49% and 102% each at $ 5.03 and $ 7.60 at the time of writing, respectively.