Citi thinks that initiatives involving the Metaverse will amass up to $13 trillion in the next eight years.
The populace is becoming more aware of contemporary technology, which gained popularity in 2021 after Facebook was renamed, Meta. Even though many people are still skeptical about this technology, certain market players believe it has many promises.
According to Citi analysts, the Metaverse is mostly a hybrid of gaming projects with 3D and augmented reality at the current time.
However, the scenario may change in the next years, with the projected audience of 5 billion people. A 1000-fold boost in computer efficiency will make this practical. It is also important to ensure online interaction with the Metaverse.
According to analysts, the rise of this business would result in a shift in project quality. After all, the Metaverse encompasses more than just video games and augmented reality. This is the Internet’s future generation, including virtual advertising, online events, digital assets, and more.
The Metaverse will connect the digital and physical worlds, covering various topics and operating continuously and engagingly. This will need major investment and technological advancements on the part of developers, and this is where we must concentrate our efforts right now.