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Citi Bank Predicts a $13 Trillion Metaverse Economy

A Digital Awards Ceremony Will Be Held in the Metaverse by Spain’s Largest Bank, Santander

Analyst research released by Citi on Thursday predicts that the metaverse economy will be valued at $13 trillion and have 5 billion users by 2030.

According to new research, an increasing number of big tech companies, worldwide customer brands, and crypto initiatives have recently made huge statements about their plans to enter the metaverse.

A recent example of this is Shiba Inu’s announcement on Wednesday that it plans to build its own version of a metaverse, which will include digital land for sale, events, and e-commerce using a proprietary stablecoin, games, and more.

The SHIB meme coin’s metaverse architecture will likely be the norm for crypto initiatives that want to develop lasting communities and future value beyond a basic cryptocurrency meme.

Citi predicted that gaming will be the most common use case for the metaverse and that currencies like Bitcoin and Ethereum can be used to perform virtual world transactions.

Metaverse and NFT

As the bank pointed out, it’s possible that NFTs will become metaverse properties. NFTs are unique tokens used to represent ownership of digital assets, such as cryptocurrency.

Last year, DappRadar’s research shows that the market for NFTs grew to more than $23 billion.

Other banks about Metaverse

It’s not only Citi, one of the world’s largest investment banks, but that’s looking to the metaverse. In January, Goldman Sachs predicted that the metaverse economy would expand by as much as $8 trillion by the end of the decade.

Another investment bank, MorganStanley ($MS), anticipated the same magnitude for the metaverse in  November of last year.

In the metaverse, individuals would reportedly be able to connect with one another via 3D avatars and share virtual environments. Last year, Facebook renamed itself Meta, and CEO Mark Zuckerberg stated that the company will invest $50 million in metaverse research over the next two years.

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