Metaverse could be worth $13 trillion in ten years’ time according to Citi Bank, as we can see more today in our latest crypto news.

Citi is the latest banking giant to give an optimistic forecast for the metaverse whcih sees the Internet’s future as a collection of decentralzied technology and virtual environments. According to the investment bank, the metaverse economy could be worth up to $13 million by 2030. while some remain suspicious of the metaverse, the Wall Street player said that it seems a huge potential in the metaverse concept. According to the City analysis, the metaverse is defined as an immersive mix of online gaming platforms that rely on 3D interactive play with others or offline augmented reality. However, this can change in the future. The multinational lender anticipates that the metaverse could be worth $1 trillion by 2030.

Citi’s understanding of the metaverse is quite broad and even more so than gaming and virtual reality applications. It is also an expansive vision that encompasses smart manufacturing technology, virtual ads, onlien events, and digital currencies. However, the banking giant noted that it will take time with the content streaming environment requiring a computational efficiency gain of more than 1000x of today’s levels:

“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.”

The report noted that the 5 billion figure is only an estimate and it includes a mobile phone user base and if the metaverse is limited to VR/AR devices, it will hit a 1 billion audience. Citi stated that the bank’s vision of a Brave New Meta World by 2030 will require major investmetns and technology enhancements. The reports by the bank show a definition of the virtual realm, crypto assets, NFTs, and infrastrcuture as well as regulatory changes that can affect the virtual world. In the meantime, Goldman Sachs estimated the sector’s value at $12.5 trillion based on a bullish scenario where 70% of the digital economy pivots to the metaverse and can double in size.

Morgan Stanley also anticipated the game figure for the metaverse and Bank of America pointed out that the metaverse represents a huge opportunity for the entire crypto industry.