Crypto investor and founder and CEO of Ark Invest, Cathie Wood, believes that metaverse is still in its initial days of development and will influence the economy all around the world.
While talking to CNBC on Wednesday, Wood agreed that metaverse has the potential to become a multi-trillion dollar market and is gearing up to rise to that level. She further stated:
“We will have our digital twins, and it’s going to enable a lot of fun and efficiency.”
She further added that not just metaverse, but every factor in the Crypto industry is going to grow to unimaginable levels. She added:
“It’s a big idea that will probably infiltrate – just like technology is, anyway – every sector in ways that we cannot even imagine right now.”
Metaverse recent surge is just a start
During the middle of November, several metaverse tokens marked new highs amidst the market correction. The tokens like Sandbox (SAND), Decentraland (MANA), and Gala (GALA) have gone up with triple digits gains within the last 30 days.
The technology is relatively a fresh concept for mainstream culture than virtual gaming through virtual worlds. However, it has the potential to redefine how we assign values. A recent article by TheCoinRise mentions the unique way of metaverse adoption in South Korea.
Many institutional investors are jumping into the sector. Recently, Japan-based multinational conglomerate holding company SoftBank has also invested $150 million in female-dominated metaverse firm Zepeto.
It would be an understatement to say that metaverse ends with gaming. Wood nodded to Trimble, which creates virtual environments for international firms, to prove her point.
Wood is not alone in her predictions related to the potential of a metaverse in multiple sectors. Earlier this week, Epic Games CEO also called metaverse a potential multi-trillion-dollar sector. The company also supports NFT games for its increasing demand.