After the user grows 10 times, Metaverse is a 1T dollar opportunity: Gray Report
The crypto investment giant Grayscale released a bullish report on Metaverse. It is estimated that the “market opportunity” that will bring Metaverse into the mainstream in the next few years may be worth more than US$1 trillion.
November report Titled “The Metaverse, Web 3.0 Virtual Cloud Economies” was written by Grayscale research director David Grider and research analyst Matt Maximo.The two mainly explore emerging industries from the following perspectives Open the Metaverse World Supported by the “interconnected crypto economy” (e.g. Decentraland).
The report emphasizes, Metaverse platform integration With the help of encrypted tokens, decentralized financial (DeFi) services, such as mortgage and lending, NFT, decentralized governance, and decentralized cloud storage, “created a new online experience” and quickly attracted new users.
Analyzing the “Global All Time Active Metaverse Wallet” data since the beginning of 2020, it found that the user base has grown 10 times since then, reaching approximately 50,000 as of June 2021.
“Compared with other Web 3.0 and Web 2.0 market segments, Metaverse Virtual World users are still at an early stage, but if the current growth rate remains on the current track, this emerging market segment may become mainstream in the next few years.”
The report emphasized that there is no shortage of venture capital companies to bet on the industry’s potential. According to the report, the total fundraising for blockchain games in the third quarter was US$1 billion. This accounted for 12% of the total funding of the entire crypto industry in the quarter, and listed it as a “top sub-industry” in the Web 3.0 and NFT categories.
The researchers pointed to a series of key dynamics that may make a significant contribution to the growth of the Metaverse sector, including increasing average leisure time and money spent on digital hobbies, the cultural shift from premium games to free games, and Web 3.0 innovations, such as Game Earning (P2E).
The total global revenue of virtual world games in 2020 is 180 billion U.S. dollars, of which “premium expenditure” accounts for about 40 billion U.S. dollars. It is estimated that the industry’s revenue may exceed 400 billion U.S. dollars by 2025, mainly driven by the in-game spending model.
The report believes that with the transition from the Web 2.0 closed enterprise Metaverse to the Web 3.0 open encrypted Metaverse network, this transition is “further accelerating” because Potential to make money They represent.
“The Web 3.0 Metaverse virtual world benefits from rapid innovation and productivity improvements. The encrypted virtual world creates a multimillion-dollar level one and two for creators and asset owners by removing capital controls and opening up digital boundaries to free market capitalism. Level market,” the report reads.
The prices of native tokens on open Metaverse platforms such as Decentraland (MANA) and The Sandbox (SAND) have been rising recently, rising 49% and 102%, respectively, to US$5.03 and US$7.60 at the time of writing.