Grayscale estimates that the metaverse will reach $ 1 trillion in annual revenues over the next few years, and the sector will compete strongly with Web 2.0.
Grayscale has published a report entitled “The Metaverse, Web 3.0 Virtual Cloud Economies”. The researchers emphasized that metaverse platforms that integrate cryptocurrencies, as well as decentralized finance (DeFi), non-fungible tokens (NFT) and decentralized cloud storage, are attracting more and more users looking for new experiences.
After analyzing the activity of the metaverse accounts since the beginning of 2020, Grayscale researchers found that by June 2021, the user base of the interactive virtual world had increased 10 times and amounted to about 50,000 people. The metaverse is still in its early stages of development, but if it continues to grow at this rate, it could become “mainstream” in the long term, analysts said.
In Q3 2021, blockchain game developers raised about $ 1 billion, which is 12% of the total funding raised in the cryptocurrency industry during this period. Researchers believe that blockchain games that work on the principle of “Play to make money” as well as innovations in Web 3.0 can make a significant contribution to the development of the metaverse, as people began to devote more time and money to “digital hobbies”.
According to BGA, the number of wallets registered in blockchain games reached 1.54 million in the third quarter. This is 25% more than in the previous quarter. In 2020, global revenue from virtual games amounted to $ 180 billion, and about $ 40 billion was spent on the purchase of premium services.It is expected that by 2025, the revenue of the gaming sector will exceed $ 400 billion due to in-game expenses, and the annual revenue of the metaverse could be more than $ 1 trillion.
Cardano founder Charles Hoskinson also believes that the metaverse has a great future, and it will be closely associated with collectible tokens.
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