Grayscale forecasts annual revenue for the Web 3.0 metaverse sector to reach $1 trillion

Annual revenue of the Web 3.0 metaverse sector could reach $1 trillion in the near term. The space will challenge Web 2.0 companies with a combined market capitalization of $15 trillion. This conclusion was reached by Grayscale Investments analysts in the report.

Researchers David Grider and Matt Maximo emphasised that metaverse platforms, integrated with cryptocurrencies, DeFi, NFT, decentralized governance, and cloud storage, have created “new online opportunities” that attract users.

Analysts note that since 2020 the number of active wallets in metaverses has grown tenfold, approaching 50,000 by June 2021.

“Compared with other segments of Web 3.0 and Web 2.0, users of virtual worlds in the metaverses are still at early stages of adoption. But if current growth rates persist on the current trajectory, this emerging segment could become mainstream in the coming years,” the study authors wrote.

They noted venture capital interest in the sector. In Q3 2021, gaming blockchain companies attracted $1 billion in 14 deals. This accounted for 12% of the overall crypto industry and marked the best showing for the Web 3.0 and NFT segments.

Analysts pointed to a number of factors that could drive sector growth, including longer leisure time and higher spending on digital hobbies, as well as a shift toward Play-to-Earn gaming models.

In their view, the sector is now at a “tipping point,” as the potential of the metaverses has attracted the attention of Meta (formerly Facebook). This could serve as a catalyst for other technology giants in the sector with a market capitalization of $14.8 trillion.

“The metaverse is a digital space that extends beyond the Internet as we know it today. This vision of the future state of the network could transform our social interactions, business relationships, and the Internet economy as a whole,” the analysts concluded.

Read about the metaverses of the future, the barriers to their creation, and the risks involved in an exclusive ForkLog interview with Pavel Kravchenko, founder of Distributed Lab:

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