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People are spending more and more time in the virtual world. From playing to working, millions of people are doing these activities in the virtual world. The digital economy has boomed in the last few years. There have been many predictions about Metaverse in recent times by various banks and Investment funds. Recently, Goldman Sachs predicted that Metaverse could be an $8 trillion opportunity. In a recent episode of 'Exchanges at Goldman Sachs' titled Understanding the metaverse and web3.0, Eric Sheridan, an analyst in Goldman Sachs was asked about the evolution of Metaverse ahead and how big the potential opportunity could be.
Eric replied, “We think this could be as much as an $8 trillion opportunity on the revenue and monetization side." Eric further said “We look at the digital economy today, which is roughly about 20 percent, 25 percent of the global economy. We see the digital economy continuing to grow, and on top of that we see a virtual economy that will grow within and alongside this digital economy." Eric clarified their prediction by stating "That’s how we came up with the number for various outcomes of anywhere from $2 trillion to $12 trillion, with $8 trillion at the midpoint of all potential outcomes."
In the past, several people from various banks and investment funds have also predicted the massive potential size of the metaverse. In November, Morgan Stanley predicted that it will be an $8 trillion dollar opportunity.
Haim Israel, a strategist in Bank of America said “Metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. I definitely believe this is a massive, massive opportunity."
According to Cathie Wood, CEO of Ark Investment Management, Metaverse will be a multitrillion-dollar market. Grayscale Investments' asset managers believe Metaverse is a $1 trillion business opportunity. There have been various predictions about Metaverse, only the future will tell how many of these predictions will come true.