Bank of America: Metaverse & Crypto Industry

Bank of America thinks Metaverse is Massive opportunity for Crypto Industry in the near future. The crypto industry is booming significantly and this is huge sign that Bank of America thinks Metaverse is Massive Opportunity for Cryto Industry.  Haim Israel likes the metaverse and thinks it will increase the cryptocurrency universe to another level.

Haim Israel– a strategist at Bank of America– thinks the metaverse will create substantial chances for blockchain innovation. It will likewise trigger digital properties to begin being used widely for monetary deals.
Nevertheless, personal tokens are too unpredictable, and stablecoins like Tether (USDT) and USD Coin (USDC) are most likely to dominate, he opined.

The Metaverse Is The Future

Bank of America thinks Metaverse Is Massive Opportunity for Crypto Industry

In recent interview, Managing Director and Global Strategist at Bank of America– Haim Israel– described the metaverse as the tool that will drive the cryptocurrency industry towards mass adoption if particular conditions are satisfied:

” I certainly think this is a massive, massive opportunity. You need the ideal platforms … that are certainly going to be a huge opportunity for this whole environment.”

Israel likewise predicted that the metaverse is where “we’re going to start using cryptocurrencies as currencies.” Nevertheless, existing digital properties such as bitcoin, ether, and the rest are too unstable to suit this role. As such, stablecoins will probably prevail since they are pegged to fiat currencies or rare-earth elements, which tend to vary a lot less.

Consequently, Israel thinks that if cryptocurrencies end up being commonly used in the metaverse, big tech business will enter the landscape.

The term “metaverse” got progressively popular during the last number of months, specifically after Mark Zuckerberg announced the rebranding of Facebook to Meta– a new title that emphasizes his company’s vision.

Simply put, the metaverse is a virtual world where people can play games, interact socially, work, construct things, and even trade and earn crypto possessions.

The Metaverse Space May Soon Reach $1T Market Value

Bank of America thinks Metaverse Is Massive Opportunity for Crypto Industry
According to a report by the leading digital asset supervisor– Grayscale, the metaverse industry world might quickly deserve over $1 trillion. Different coins are investing in metaverse which is why bank of America thinks Metaverse is Massive opportunity for Crypto Industry.

The investment giant noted that the opportunity for the area extends far beyond video gaming and touches sectors like marketing, digital occasions, social commerce, hardware, and developer/creator monetization.
Assuming the current data is appropriate, the total market capitalization of Web 3.0 metaverse crypto networks is currently near $30 billion. However, the industry might emerge as a disruptor for Web 3.0, similar to how Facebook changed Web 2.0.

The analysis likewise revealed that the variety of metaverse wallets had multiplied by an aspect of 10 compared to the beginning of last year. In the last quarter of 2021, the number stood at around 50,000.

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