According to a new report, the Metaverse economy could be worth up to $13 trillion by 2030. The report looks at everything, from in-game tokens, to crypto, stablecoins, CBDCs and fiat currency.
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The report estimates that a device-agnostic Metaverse that involves use cases such as commerce, art, media, advertising, healthcare and social collaboration could see a total transportable market of between $8 trillion and $13 trillion by 2030.
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In addition, the report states that interoperability and seamless exchange between underlying blockchain technology are critical to ensure a frictionless user experience.
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Since Facebook rebranded as Meta last year, the concept of the Metaverse has taken a huge pace, with firms, including many in financial services, scrambling to understand how the impending move to a more virtual world will impact the economy and their business.
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The report stated: “Interoperability and seamless exchange between underlying blockchain technology are critical to ensure a frictionless user experience. 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.”
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The report authors said, “We expect the Metaverse of the future would encompass existing forms of money and also a set of digitally-native primitives, tied to non-fungible tokens (NFTs) and other tokens, that were out-of-scope for a pre-blockchain virtual world.”
