A fresh research-based report from Grayscale Investment highlights that the Metaverse can achieve a trillion-dollar yearly review, which will enable it to compete with other major players in the Web 2.0 sector.
Just recently, Grayscale Investments released a detailed research-based report, consisting of 19 pages and given the title of “The Metaverse: Web 3.0 Virtual Cloud Economies”. The report was written by their head of research, David Grider and market analyst, Matt Maximo.
About Metaverse
The report started off with an overall explanation of the term metaverse, stating that as crypto based “cloud economies” start to become the pinnacle for upcoming newly emerging market, the Metaverse basically stands at the frontline of this new “evolution” coming to internet with Web 3.0. The Metaverse is basically a collection of interconnected three-dimensional virtual environments, where different people from around the world can come together to “socialize”, work together and trade in real time.
Current major projects such as Decentraland are working to construct these virtual open world environments, where users can roam around, enjoy, play video games, socialize, host meetings, earn MANA or even come up with their own set of NFTs, providing “them with real world interoperability”, as they spend their time and progress within the virtual world. MANA is basically a native token of Decentraland that can be utilized to buy NFTs, LAND, rare collector items and “vote on economy governance”.
Web 2.0 Metaverse vs Web 3.0 Metaverse
The report then focused on the difference between a Web 2.0 Metaverse and a Web 3.0 Crypto-based metaverse. The report highlighted that as of now, gamers from all around the world have been spending real money on buying different unique virtual collectibles in game and have been building their own inventories, but that is mainly on the closed Web 2.0 metaverse, as some developers do not allow digital items to become sellable.
Web 3.0 metaverse solves this issue by taking care of “the capital controls” that are restricting such abilities. Players in the Web 3.0 metaverse can utilize their own NFTs, by selling them off to other players, this creating this huge new digital item market.
Other Sectors
The report also mentioned that gaming isn’t the only sector that is need of addressing, the report also gave light to different segments of the virtual economy working on blockchain including, DeFi, NFTs and a few others.
