Goldman Sachs: The metaverse is an $8 trillion revenue opportunity.
Goldman Sachs, a global investment bank, predicts that the metaverse might be worth $8 trillion. Others have claimed that the metaverse will be a multitrillion-dollar market as well.
In a recent "Exchanges at Goldman Sachs" programme titled "Understanding the Metaverse and Web 3.0," Goldman Sachs analyst Eric Sheridan detailed the bank's metaverse projection.
He was asked about the metaverse's future evolution and the size of the potential opportunity. The analyst replied:
On the revenue and monetization side, we believe this may be worth up to $8 trillion.
"We look at the digital economy today, which accounts for around 20% to 25% of the global economy... The analyst explained, "We see the digital economy continuing to grow, and on top of that, we see a virtual economy growing within and alongside this digital economy."
"That's how we came up with numbers ranging from $2 trillion to $12 trillion for various outcomes, with $8 trillion being the midpoint of all possible outcomes," he explained.
The metaverse's potential size has been calculated by several people. In November of last year, rival financial bank Morgan Stanley forecast that the metaverse would be a $8 trillion market opportunity.
Haim Israel, a strategist at Bank of America, said in December that the metaverse is a huge possibility where cryptocurrencies will be widely used as currencies. He emphasised, "I really believe this is a big, massive opportunity."
Meanwhile, Cathie Wood, CEO of Ark Investment Management, said that the metaverse will be a multitrillion-dollar market, and Grayscale Investments, a crypto-asset manager, predicted that the metaverse will be a $1 trillion business opportunity.