Goldman Sachs considers Metaverse an $8-trillion opportunity

Goldman Sachs considers Metaverse an $8-trillion opportunity
Goldman Sachs, the global investment bank, estimates that the Metaverse could be an $8-trillion opportunity. Many others also predict that the Metaverse is a multi-trillion dollar market.

Eric Sheridan-an analyst at Goldman Sachs-explained the bank’s forecast in a recent episode of “Exchanges at Goldman Sachs” titled “Understanding the metaverse and web 3.0.”

Asked about the evolution and potential of the Metaverse, he said:

“We think it could be an $8 trilinear opportunity in terms of revenue and monetisation.”

“We’re looking at the digital economy today, which is about 20-25% of the global economy… We see the digital economy continuing to grow, plus we see the virtual economy growing within and alongside that digital economy,” the analyst says.

“That’s how we arrived at the numbers for the various possibilities between $2 trillion and $12 trillion, where $8 trillion is the midpoint of all the potential outcomes,” he explains.

Several people have estimated the potential size of the Metaverse. Morgan Stanley, a rival investment bank, similarly estimated the size of the Metaverse at an $8 trillion market opportunity in November that year.

In December, Bank of America strategist Haim Israel said the Metaverse is a huge opportunity where cryptocurrencies will be widely used as a currency. “I firmly believe it’s a massive, massive opportunity,” he stresses.

Meanwhile, Ark Investment Management CEO Cathie Wood said Metaverse is a multi-trillion dollar market and crypto asset manager Grayscale Investments said Metaverse is a $1 trillion business opportunity.

25/01/2022 – Mr.Advice NEWS

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