Even though last year was turbulent for cryptocurrency and NFTs, investors and experts are still optimistic about the future of the metaverse. Recent reports have estimated that metaverse platforms could reach $5 trillion in value by 2030. LBank’s co-founder and CEO, Allen Wei, has been following the metaverse closely for several years and has no doubt the technology will blossom in the near future.
The report presents potential ways the metaverse could create value and some technological requirements for it to achieve wider adoption. Four key enablers highlighted by the report were devices, interoperability, open standards, facilitating platforms, and development tools. According to the report, despite high adoption rates in certain fields, most initiatives have only had relatively low levels of adoption. “
The magic about the metaverse is the experience that it could give us. When a lot of people think of the metaverse now they think about headsets and virtual reality games. This is definitely part of what the metaverse could do, but it is so much more. Right now we’re still testing the waters. In terms of having a mature metaverse that is widely used, we’re simply not there yet,”“I’ve been keeping a close track of the metaverse since its inception.