Metaverse is a huge opportunity for the crypto industry

Haim Israel – a strategist at Bank of America – believes the meta-verse will create enormous opportunities for blockchain technology. It will also lead to digital assets becoming widely used for financial transactions.

Nevertheless, private tokens are volatile, and stack coins like Tether (USDT) and USD Coin (USDC) are more likely to win, he said.

The meta-verse is the future

In a recent interview, the CEO and global strategist of Bank of America – Haim Israel – described the meta-verse as the tool that will drive the cryptocurrency industry towards mass adoption if certain conditions are met:

“I definitely think this is a huge, massive opportunity. You need the right platforms … which are definitely going to be a great opportunity for this whole ecosystem.”[ads1];

Israel also predicted that the metaverse is where “we are going to start using cryptocurrencies as currencies.” However, existing digital assets such as bitcoin, ether and the rest are too volatile to fit into this role. As such, stack coins are likely to win since they are linked to fiat currencies or precious metals, which tend to fluctuate much less.

Then Israel believes that if cryptocurrencies are widely used in the meta-version, large technology companies will enter the landscape.

Haim Israel
Haim Israel, Source: Financial News

The term “metaverse” has become increasingly popular over the past few months, especially after Mark Zuckerberg announced the rebranding of Facebook to Meta – a new title that underscores the company’s vision.

Simply put, the meta-verse is a virtual world where people can play games, socialize, work, build things and even trade and earn cryptocurrencies.

The Metaverse room may soon reach $ 1T market value

According to a report by the leading digital asset manager – Grayscale, the metaverse industrial world may soon be worth over $ 1 trillion.

The investment giant noted that the opportunity for the space extends far beyond games and affects sectors such as advertising, digital events, social commerce, hardware and revenue generation for developers / creators.

Assuming the latest data is correct, the total market value of Web 3.0 metaverse krypton networks is already close to $ 30 billion. However, the industry may emerge as a disruption to Web 3.0, just as Facebook changed Web 2.0.

The analysis also showed that the number of metaverse wallets had multiplied by a factor of ten compared to the beginning of last year. In the last quarter of 2021, the number was around 50,000.

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