Today the metaverse is little more than an entelechy and is clouded by a dense nebula of unknowns. Nobody knows for sure what paths what is considered by many to be the next generation internet will travel.
Even so, and despite the fact that many questions still hover over this concept, the truth is that the metaverse seems doomed to attract money at large. According to a recent study by the financial services company Citigroup, the metaverse could generate revenues of between 8 and 13 billion dollars in 2030.
Such colossal income will be possible thanks to the high number of areas where the metaverse can potentially break through: gaming, media and entertainment, art, commerce, education or health.
“We estimate that the total market for the metaverse economy could exceed $10 trillion,” explains Ronit Ghose, Global Head of Anking, FinTech & Digital Assets at Citi Global Insights. “The experts consulted in the report estimate a range of users between 5,000 million (if we focus on all people with access to mobile internet) or 1,000 million (considering only and exclusively those who have access to virtual reality devices and digital reality). increased),” he adds.
To get the most out of the opportunities lurking in the metaverse, a huge investment in technology will have to be made
In its report, Citigroup preferred to focus on the first figure (5,000 million users) because it considers that most of those who access the metaverse in the coming years will do so through mobile devices and only a small minority will opt for specific reality devices. virtual and augmented reality.
According to Citigroup, cryptocurrencies will be the dominant currency in the metaverse, although they will coexist with legal tender, in-game tokens, stablecoins and CBDCs or central bank digital currencies.
To live up to the massive growth that is expected of it in the future, the metaverse will need to rely, yes, on a very strong investment in technology, emphasizes Citigroup. After all, the current infrastructure of the network of networks is not adequate to host the 100% immersive and frictionless experiences that the metaverse demands. And it will be necessary to multiply by a thousand the computational efficiency that the Internet has today.
On the other hand, as the metaverse grows in size, it will also attract the attention of more and more regulators. And this will inevitably pose challenges related to content moderation, freedom of expression and privacy. The regulatory frameworks by which cryptocurrencies and decentralized finance must necessarily be governed will also be highly relevant in the metaverse, Citigroup warns.