Citibank estimates metaverse market at $13 trillion by 2030

Analysts at Citibank, the world’s largest international bank, forecast the metaverse economy to reach $13 trillion by 2030.

We believe the Metaverse may be the next generation of the internet — combining the physical and digital world in a persistent and immersive manner — and not purely a Virtual Reality world. Read more in our latest #Citi GPS report: https://t.co/Gmz3ZK1U9K pic.twitter.com/YCVtcKhjc9

— Citi (@Citi) April 1, 2022

According to the experts, the total number of metaverse users by then will reach five billion.

“We believe that the metaverses are the next generation of the internet, uniting the physical and digital worlds,” the report says.

They expect gaming to be the most popular use case for the metaverses. The analysts say that NFTs will represent digital property.

CBDC could also be used alongside stablecoins. Bitcoin and Ethereum could become the most popular means of settlement in the metaverses, but Citi also envisage the use of stablecoins and CBDC.

«To reach such a market size, investments in infrastructure will be required: computing, storage, network infrastructure, consumer hardware and game development platforms», — the analysts explained.

In October 2021, Facebook carried out a major rebranding and renamed itself to Meta for the demonstration of its commitment to building the metaverse, which it regards as “the next stage of the evolution of social connections”.

In March 2022, the team behind the meme token Shiba Inu and the company behind the NFT collection BAYC Yuga Labs announced plans to create their own virtual worlds. The latter has already attracted $450 million for this purpose.

In March in Decentraland the first Metaverse Fashion Week took place, and in February — the first wedding.

Prominent names from various sectors have already shown interest in the technology: fast-food chain McDonald’s, the Italian fashion house Gucci, the world’s largest retailer Walmart, the financial conglomerate JPMorgan, Britain’s largest bank HSBC, and others.

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