(CoinDesk) Citi strategists believe that the metaverse economy’s total addressable market would be somewhere between $8 to $13 trillion by 2030.
The bank believes that the metaverse would be akin to the internet for the next generations, dubbed Web 3, with up to five billion users.
The strategists predict that the metaverse would be community-owned and governed, and would be freely interoperable, safeguarding privacy by design.
The use cases predicted by Citi for metaverse include commercial, media, art, healthcare, advertising, and social collaboration.
Citi believes that what will be termed as money in the “open metaverse” would differ from the real world. They expect different forms of crypto, central bank digital currencies, and stablecoins to exist alongside fiat money.
The bank says the metaverse is not a new concept, but its popularity grew alongside the booming NFT space in 2021, which prompted the entry of big players.
The strategists say the metaverse will need more than 1,000 times improvement in computational efficiency. The needed improvement suggests sizable infrastructure outlays for the metaverse opportunity to be unlocked.
Citi warns that a greater role of the metaverse will attract more scrutiny from governments and regulators.
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