Citigroup, a major US investment bank, has released a new report predicting that the metaverse economy could reach $13 trillion by 2030. The report defines the metaverse as “a virtual shared space that is persistently online and supports users’ continuous presence, actions, and transactions,” and cites a range of factors that are likely to contribute to its growth. These include the increasing popularity of virtual reality and gaming, the rise of NFTs and digital art, and the potential for the metaverse to create new markets and revenue streams for businesses.
The report also notes that the metaverse could have a significant impact on the wider economy, creating jobs and driving innovation in areas such as AI, blockchain, and cybersecurity. However, it also acknowledges that the metaverse poses a number of challenges, such as the need to ensure user privacy and security, and the risk of exacerbating existing social and economic inequalities.
The report suggests that the metaverse is a rapidly growing and potentially transformative sector, with significant implications for both businesses and society as a whole. As such, it argues that investors should be paying close attention to developments in this space, and positioning themselves to take advantage of the opportunities that the metaverse presents.
Read more – Investment Bank Citi Is Bullish on the Metaverse, Predicts $13 Trillion Economy – Decrypt
