After users increase 10X, the Metaverse is a $1T investment: Grayscale report

Grayscale has released a new report that shows that active Metaverse users have increased 10X in the period between June 2021 and 2020, according to Grayscale.
Grayscale, a crypto investment giant, has published a bullish Report on the Metaverse. It estimates that the “market opportunity”, to bring the Metaverse to mainstream might be worth more than $1 trillion in the next few decades. Grayscale Head of Research David Grider and Matt Maximo, a research analyst, authored the November report titled “The Metaverse Web 3.0 Virtual Cloud Economies”. The duo examines the sector primarily through the lens of open Metaverse worlds supported by an “interconnected cryptocurrency-economy” like Decentraland. The report highlights how Metaverse platforms have been integrated with decentralized finance (DeFi), services such as staking, lending, and decentralized governance. This has created a new online experience that is rapidly attracting new users. The report analyzed “global all time active metaverse wallets data” from the start of 2020 and found that the user base had grown 10X to around 50,000 by June 2021. The report highlights the fact that there are plenty of VCs willing to take a chance on the sector’s potential. According to the report, $1 billion was raised for blockchain gaming in Q3. According to the report, $1 billion was raised for blockchain gaming in Q3. This is 12% of the total crypto sector’s fundraising. The global revenue from virtual world gaming was $180 billion in 2020. “Premium spending” accounted for about $40 billion. There are estimates that the sector could bring in more than $400 million by 2025, primarily due to the in-game spending model. This shift is “accelerating further with Web 2.0 closed corporate Metaverses being replaced by Web 3.0 open cryptocurrency Metaverse networks,” according to the report. “Web 3.0 Metaverse virtual universes have seen rapid innovation and productivity gains. The report states that crypto virtual worlds have created a multimillion-dollar primary and secondary market for creators, asset owners, and capital controls. They also open their digital borders to free-market capitalism. Similar Metaverse and blockchain gaming altcoins rally as Bitcoin searches for support. The native tokens for open Metaverse platforms like Decentraland (MANA), and The Sandbox(SAND) have seen a surge in value, rising 49% and 102% respectively to $5.03 and $7.60 respectively at the time of writing.

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