Grayscale has released its research report for November, which focuses on the Metaverse.
Grayscale goes into detail about its “Meta Thesis”
The investment firm explains its “Meta Thesis,” which details how the transition from Web2 to Web3 is currently taking place. It compares early Metaverse applications such as Decentraland to internet infrastructures like Netscape (Web 1.0) and Facebook (Web 2.0). This is one of the reasons why the company believes that Metaverse and Web3 represent a trillion-dollar revenue opportunity
Grayscale notes that as web-based technologies evolve, the number of time people spend with them increases. Grayscale believes that the increased time spent online translates into more money spent in virtual spaces: “As we spend more of our time in these digital world experiences, we also spend more of our money within these digital realms to build our social status within these online communities.”
Which opportunities does Grayscale see?
In the rest of the report, the company further elaborates on gaming. The report shows how gamers are moving away from Pay2Play games to more open gaming experiences like Sky Mavis’ Axie Infinity. While games are currently playing a big role in Web3 development, Grayscale claims that the opportunity extends to other areas such as art galleries, business offices, casinos, advertising, sponsored content and music.
Moreover, Grayscale believes that these Web 3.0 metaverse worlds are part of a larger ecosystem in which crypto plays a significant role. The company believes that decentralized protocols such as DeFi protocols and other Dapps will provide the technical infrastructure for these virtual metaverse economies.