Grayscale Report

If you’re not familiar with Grayscale, it’s time you got familiar. Grayscale Investments is a crypto-investment GIANT. It was established all the way back in 2013 and manages an enormous amount of assets. In October 2021 Grayscale reported that they were currently managing approximately $55 billion worth of assets, and in January 2020, Grayscale Bitcoin Trust became the first digital currency-related financial product to report to the Securities and Exchange Commission (SEC).

So given all the above, it’s fair to say that Grayscale is a pretty big deal, which is why when they release a report stating that the metaverse is a $1T opportunity, people’s ears prick up and they listen with intent.

The report published this November titled “The Metaverse, Web 3.0 Virtual Cloud Economies” was authored by David Grider – Head of Research, and Matt Maximo – Research Analyst (what a cool name…). The report explores the new metaverse sector from the Decentraland-style perspective: Inter-connected cryptocurrency-economies backing open worlds within the metaverse.

The report shows that this new online experience paired with decentralised systems such as financial services, governance, and cloud storage, is attracting new users at a magnificently rapid pace with users increasing ten times over between the beginning of 2020 and June 2021.

The report states:

Compared to other Web 3.0 and Web 2.0 segments, Metaverse virtual world users are still in their early innings, but if current growth rates remain on their current trajectory, this emerging segment has the potential to become mainstream in the coming years.

It seems that venture capitalists are swarming to the sector with fundraising for blockchain gaming in Q3 totalling a whopping $1 billion accounting for 12% of the total fundraising for the crypto space within that quarter, making it the top sub-sector within the categories of NFTs and Web 3.0.

It’s still early days, and this sector has a long way to go, I personally cannot wait to see which projects take off, and I’m sure the ones that do will already be on Grayscale’s radar!