{"id":487451,"date":"2022-04-02T16:16:12","date_gmt":"2022-04-02T16:16:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=487451"},"modified":"2022-04-02T16:16:12","modified_gmt":"2022-04-02T16:16:12","slug":"metaverse-may-be-worth-13-trillion","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/metaverse-may-be-worth-13-trillion\/","title":{"rendered":"Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says"},"content":{"rendered":"

Citi is the latest banking behemoth to give an optimistic forecast for the metaverse, which envisions the internet’s future as a collection of decentralized technology and virtual environments.<\/p>\n

According to the New York-headquartered global investment bank, the metaverse economy may be worth up to $13 trillion by 2030.<\/p>\n

While some remain suspicious of the metaverse, the Wall Street player says it sees tremendous potential in the concept of extended reality.<\/p>\n

According to the Citi analysis, the metaverse is mainly defined at the moment as an immersive mix of online gaming platforms that rely heavily on 3D interactive play with others or offline augmented reality.<\/p>\n

Suggested Reading | Bitcoin Helps Market Hover Past $2 Trillion As BTC Nears $48,000<\/a><\/em><\/strong><\/p>\n

However, this will change in the future years. The multinational lender anticipates that the metaverse’s user base will grow to as many as 5 billion.<\/p>\n

Citi Metaverse Concept Encompasses Gaming<\/h2>\n

Citi’s understanding of the metaverse is broader than gaming and virtual reality applications. Its expansive vision encompasses smart manufacturing technology, virtual advertising, online events such as concerts, and digital currencies such as bitcoin.<\/p>\n

However, Citi noted that it will take time, with the metaverse’s content streaming environment likely requiring a “computational efficiency gain of more than 1,000x today’s levels.”<\/p>\n

According to the bank’s report:<\/p>\n

“We believe the Metaverse is the next generation of the internet, fusing the physical and digital worlds in a persistent and immersive manner, rather than being a purely virtual reality environment.”<\/p><\/blockquote>\n

<\/p>\n

BTC total market cap at $875.81 billion on the weekly chart | Source: TradingView.com<\/a><\/pre>\n
The report states that the 5 billion figure is an estimate. It includes a mobile phone user base, and if the metaverse is limited to VR\/AR devices, it projects a closer to 1 billion audience.<\/p>\n
A Lot Of Work To Do<\/h2>\n
Citi stated that achieving the bank’s vision of a “Brave New Meta World” by 2030 will require substantial investment and technology enhancements.<\/p>\n
Suggested Reading | Fed Chair Powell Says Crypto Requires New Rules, Citing \u2018Threats\u2019 To US Financial System<\/a><\/em><\/strong><\/p>\n
Citi’s 184-page report delves deeply into numerous facets of the metaverse.<\/p>\n
They contain a definition of the virtual realm, its infrastructure, cryptoassets such as NFTs, money and DeFi, as well as regulatory changes affecting the virtual world.<\/p>\n
Other Wall Street Players Are Bullish<\/h3>\n
Meanwhile, Goldman Sachs estimated the sector’s value at $12.5 trillion in a December report, based on a bullish scenario in which 70% of the digital economy pivots to the metaverse and then doubles in size.<\/p>\n
Morgan Stanley, another prominent investment firm, anticipated the same figure for the metaverse in November of last year.<\/p>\n
Bank of America, on the other hand, pointed out that the metaverse represents a big opportunity for the entire crypto industry.<\/p>\n
Featured image from Bitcoin Insider, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Citi is the latest banking behemoth to give an optimistic forecast for the metaverse, which envisions the internet’s future as a collection of decentralized technology and virtual environments. According to the New York-headquartered global investment bank, the metaverse economy may be worth up to $13 trillion by 2030. While some remain suspicious of the metaverse, the Wall Street player says it sees tremendous potential in the concept of extended reality. According to the Citi analysis, the metaverse is mainly defined at the moment as an immersive mix of online gaming platforms that rely heavily on 3D interactive play with others or offline augmented reality. Suggested Reading | Bitcoin Helps Market Hover Past $2 Trillion As BTC Nears $48,000 However, this will change in the future years. The multinational lender anticipates that the metaverse’s user base will grow to as many as 5 billion. Citi Metaverse Concept Encompasses Gaming Citi’s understanding of the metaverse is broader than gaming and virtual reality applications. Its expansive vision encompasses smart manufacturing technology, virtual advertising, online events such as concerts, and digital currencies such as bitcoin. However, Citi noted that it will take time, with the metaverse’s content streaming environment likely requiring a “computational efficiency gain of more than 1,000x today’s levels.” According to the bank’s report: “We believe the Metaverse is the next generation of the internet, fusing the physical and digital worlds in a persistent and immersive manner, rather than being a purely virtual reality environment.” BTC total market cap at $875.81 billion on the weekly chart | Source: TradingView.com The report states that the 5 billion figure is an estimate. It includes a mobile phone user base, and if the metaverse is limited to VR\/AR devices, it projects a closer to 1 billion audience. A Lot Of Work To Do Citi stated that achieving the bank’s vision of a “Brave New Meta World” by 2030 will require substantial investment and technology enhancements. Suggested Reading | Fed Chair Powell Says Crypto Requires New Rules, Citing \u2018Threats\u2019 To US Financial System Citi’s 184-page report delves deeply into numerous facets of the metaverse. They contain a definition of the virtual realm, its infrastructure, cryptoassets such as NFTs, money and DeFi, as well as regulatory changes affecting the virtual world. Other Wall Street Players Are Bullish Meanwhile, Goldman Sachs estimated the sector’s value at $12.5 trillion in a December report, based on a bullish scenario in which 70% of the digital economy pivots to the metaverse and then doubles in size. Morgan Stanley, another prominent investment firm, anticipated the same figure for the metaverse in November of last year. Bank of America, on the other hand, pointed out that the metaverse represents a big opportunity for the entire crypto industry. Featured image from Bitcoin Insider, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":487453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,85602,83565],"tags":[1339,6664,10610,15369],"class_list":["post-487451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-metaverse","category-nft","tag-citi","tag-crypto","tag-metaverse","tag-nft"],"acf":[],"yoast_head":"\nMetaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says<\/title>\n<meta name=\"description\" content=\"Citi is the latest banking behemoth to give an optimistic forecast for the metaverse, which envisions the internet's future as a collection of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says","url":"http:\/\/ktsl888.com\/news\/metaverse-may-be-worth-13-trillion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/metaverse-may-be-worth-13-trillion\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/04\/Metaverse.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/04\/Metaverse.jpg?fit=1200%2C800"},"articleSection":"metaverse","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["citi","crypto","metaverse","nft"],"dateCreated":"2022-04-02T16:16:12Z","datePublished":"2022-04-02T16:16:12Z","dateModified":"2022-04-02T16:16:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/metaverse-may-be-worth-13-trillion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/metaverse-may-be-worth-13-trillion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/Metaverse.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/Metaverse.jpg?fit=1200%2C800\"},\"articleSection\":\"metaverse\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"citi\",\"crypto\",\"metaverse\",\"nft\"],\"dateCreated\":\"2022-04-02T16:16:12Z\",\"datePublished\":\"2022-04-02T16:16:12Z\",\"dateModified\":\"2022-04-02T16:16:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/04\/Metaverse.jpg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/487451"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=487451"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/487451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/487453"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=487451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=487451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=487451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}