Citibank Forecasts Metaverse Market Cap to Hit $13 Trillion by 2030

According to a Citibank estimate, the metaverse market might be worth somewhere in the range of $8 trillion to $13 trillion by 2030. In the meantime a team of Taiwanese puppet masters wants to employ non-fungible tokens (NFT) to digitize their conventional street performance culture.Earlier today, the entire cryptocurrency market cap had risen by 5.46 percent to $2.15 trillion. However, according to Coinmarketcap statistics, worldwide cryptocurrency volume fell 7.01% to $124.96 billion.

Gaurav Dahake, CEO and founder, Bitbns, said “Bitcoin returned above $46,000 as the fluctuation subsided, while Ether gained 7% in the past 24 hours. Solana saw a remarkable increase of 13.3% across major altcoins.”

The numero uno cryptocurrency, Bitcoin (BTC), was changing hands at $46,462.38, up 4.31% in the previous 24 hours. The second major crypto by market capitalization, Ethereum (ETH), was also down 7.13% to $3,463.83. Cardano (ADA) rose by 5.8% to $1.17, Algorand (ALGO) surged 6.72% to $0.9568, Binance Coin (BNB) appreciated by 7.26% to $447.59, Solana (SOL) rose by 13.18% to $134.65, and Polkadot (DOT) increased 6.28% to $22.15 among other prominent currencies. Blockchain Brawlers (BRWL) rallied in an exceptional manner, up 358.04% to $0.5342. Geojam Token (JAM) recorded the biggest loss, falling 23.92% to $0.01723.

According to Coindesk, Citibank stated in the analysis that considerable investments were necessary in sectors such as storage, network framework, consumer gadget, and game creation solutions for the metaverse industry to achieve a maximum total addressable market (TAM) of approximately $13 trillion.

Seika Huang, brand director, Pili International Multimedia, which creates Taiwan’s long-standing television program involving puppets, opined that “People’s idea for the internet world is evolving at such a breakneck pace that we’re practically unable to keep up.”