Metaverse could be worth trillions

The value of the metaverse could hit between $8 trillion and $13 trillion by 2030, new research has found.

The report, commissioned by Citi bank, says that total metaverse users could reach roughly five billion by the same time.

However, the report explains that to reach this market level there needs to be significant infrastructure investment, with the content streaming environment of the metaverse needing a “computational efficiency improvement of over 1,000x today’s levels”.

The study adds that while the most popular way to experience the metaverse currently is via video games played on VR headsets, there is a possibility that the digital phenomenon is heading towards becoming “the next iteration of the internet or Web3”.

It describes an “Open Metaverse” that would be community-owned and governed and a “freely interoperable” version that ensures privacy by design.

Money in the metaverse

The report suggests that what counts as money in the Open Metaverse is likely to be very different to money in the real world.

“Interoperability and seamless exchange between underlying blockchain technology are critical to ensure a frictionless user experience,” it says. “Different forms of cryptocurrency are expected to dominate, but given the multi-chain trend in the crypto ecosystem, cryptocurrency will likely coexist with fiat currencies, central bank digital currencies (CBDCs), and stablecoins.”
It warns that if the metaverse becomes the new iteration of the internet, it will likely attract greater scrutiny from global regulators and governments.

“Issues such as anti-money laundering rules for exchanges and wallets, the use of decentralised finance (DeFi), crypto assets, and property rights will all have to be addressed,” it explains.

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