Cathie Wood, Ark Investment Management (Ark Invest), CEO shared her prediction regarding the metaverse during an interview with CNBC. She stated that the metaverse is a multitrillion dollar opportunity that will affect every sector of the economy.
Ark Invest CEO opined that:
It is a huge idea that will likely infiltrate every sector, just as technology does.
After social media giant Facebook changed its name from Meta to Meta, the metaverse gained much attention.
Wood was asked if she believed the metaverse could become a multitrillion dollar market. Wood simply answered, “We do.”
Ark Invest CEO stated that the metaverse will shift significantly away from its current focus on games and consumer goods.
Our digital twins will be here, which will allow for a lot more fun and efficiency.
Grayscale Investments recently published a Report stating that ‘The metaverse market opportunity may be worth more than $1 trillion annually and could compete with Web 2.0 companies valued at $15 trillion today.
, the strategist at Bank of America, stated last week that the metaverse offers a huge opportunity for cryptocurrencies to be widely used as currency.
Some are skeptical of the metaverse. They pointed out that many people have played virtual world games for years and that this idea is not revolutionary. Raj Gokal, cofounder of Solana Labs tweeted last week: “I worry that metaverse is too hyped (industry-wide). I’ve never seen so much hype about an unreleased product, or category of products in mainstream media.