Global investment bank Goldman Sachs has predicted that the metaverse could be an $8 trillion opportunity. Goldman Sachs’ analyst Eric Sheridan explained the bank’s metaverse prediction in a recent “Exchanges at Goldman Sachs” episode, titled “Understanding the metaverse and web 3.0.”
He was asked about the evolution of the metaverse ahead and how big the potential opportunity could be. The analyst replied:
We think this could be as much as an $8 trillion opportunity on the revenue and monetization side.
“We look at the digital economy today, which is roughly about 20%, 25% of the global economy … We see the digital economy continuing to grow, and on top of that we see a virtual economy that will grow within and alongside this digital economy,” the analyst described.
“That’s how we came up with the number for various outcomes of anywhere from $2 trillion to $12 trillion, with $8 trillion at the midpoint of all potential outcomes,” he clarified.
Several people have estimated the potential size of the metaverse. Rival investment bank Morgan Stanley similarly predicted in November last year that the metaverse is an $8 trillion market opportunity.
In December, Bank of America’s strategist, Haim Israel, said that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. “I definitely believe this is a massive, massive opportunity,” he stressed.
Meanwhile, the CEO of Ark Investment Management, Cathie Wood, said the metaverse will be a multitrillion-dollar market, and crypto-asset manager Grayscale Investments said the metaverse is a potential $1 trillion business opportunity.