Published: 26.04.2022
Article reading time:
2 minutes.
Raul Pal, CEO of Real Vision TV, believes that the big companies in the Web2 sector will retain their market share and enter the metaverse fully in a few years.
Raoul Pal stated in an interview that blockchain will evolve and open up new horizons, whether the bear market continues or not. He added that over the next few years, Web3 will dominate.
“People are writing off the Web2 platform early. In my opinion, Facebook, Meta and Twitter will remain in the market. Within five years they have been integrating Web3. Investors should understand that Facebook will not go away easily, because it is a network of four billion people,” he said.
The former top manager of Goldman Sachs said that within five years, world governments will launch state digital currencies, and the European Central Bank may try to go public. According to Pal, “In any case, now everyone has the opportunity to enter the digital world.”
The macroeconomist also noted the importance of the arrival of sovereign wealth funds in cryptocurrencies. Central banks will follow, he said.
“Sovereign wealth funds are large pools of capital from rich countries. Unlike the reserves of the Central Bank, this is the wealth of nations. The time is approaching when they will enter the cryptocurrency market. I know because I talk to them, and I know that they are moving towards it. Investment banks are now creating all sorts of products in the cryptocurrency ecosystem, an opportunity for investors to trade options. So that will come too,” Pal said.
The expert monitors the influx of venture investments in the crypto industry. According to him, the bearish trend will allow teams to focus on creating new products and solving existing problems, such as the security of a cryptocurrency wallet.
Pal also believes that the rise of NFTs is inevitable. More sectors of the entertainment and cultural industry will use NFTs to increase brand awareness and profit for fans from their favorite sports team or musician, he said.
It is worth noting that Meta is already taking the first steps to profit from the metaverse. This month, the parent company of Facebook and Instagram said it would charge a 47.5% commission on digital asset sales on its Horizon Worlds virtual reality platform.
Source: Bits
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