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Thursday, May 23, 2024

Metaverse Will Be Multitrillion-Dollar Market Says Cathie Wood Ark Invest

"We're going to have our digital twins, and it's going to enable a lot of fun and a lot of efficiencies"

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Ark Investment Management (Ark Invest) CEO Cathie Wood shared her views on the most trending topic “metaverse”  in an interview with CNBC last week. She explained that the metaverse will be a multitrillion-dollar opportunity that will impact every part of the economy.

The Ark Invest CEO opined:
It’s a big idea that will probably infiltrate, just like technology is, every sector in ways that we cannot even imagine right now.

Cathie Wood noted that the metaverse will be more than just gaming and consumer goods, Metaverse is going to offer a lot of opportunities that could be game-changing for many individuals. These can be investment-wise in metaverse tokens or companies that are totally based on the Metaverse.

CNBC interviewer asked her whether she thinks the metaverse can become a multitrillion-dollar market, Wood said: “We do.”

She added: “We’re going to have our digital twins, and it’s going to enable a lot of fun and a lot of efficiencies.”


Recently, Grayscale Investments published a report stating that “ metaverse will be worth over $1 trillion in annual revenue and may compete with Web 2.0 companies worth ~$15 trillion in market value today.”

Last week, Bank of America’s strategist said that the metaverse is a massive opportunity where the transaction will happen in cryptocurrencies like Stablecoins.

However there are some people who are concern about the metaverse, Raj Gokal, co-founder of Solana Labs, thinks that metaverse is overhyped.


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