According to a strategist of Bank of America, Metaverse will push the Crypto industry toward the next level in the future.
At present, Metaverse-based crypto project assets are grabbing huge attention in the crypto market. The whole thing started with the initiative of the Facebook company rebranding into Metaverse.
Metaverse is the name of the Facebook company now but the main concept of Metaverse is to establish a virtual world where people can do everything with a full freedom that they can’t do in practical life. So these are augmented and Virtual reality best project initiatives.
The Crypto industry has huge numbers of crypto projects and almost all the crypto projects have their unique use cases. Many crypto projects started in 2017 to 2020 with the initiative of augmented and virtual reality-based concepts but failed to grab attention as a successful crypto project. But after the announcement of Facebook about Metaverse, all these crypto projects related to Metaverse started to gain a high level of momentum.
In a recent interview, Haim Israel- the Managing Director and Global Strategist at Bank of America- pointed out the Metaverse concept is going to be a big opportunity for the crypto industry. According to Haim, if crypto meets certain conditions then with the help of Metaverse, crypto will reach the next level of adoption.
“I believe this is a massive, massive opportunity. You need the right platforms… that is going to be a big opportunity for this entire ecosystem”
Haim also noted that cryptocurrencies can be used as real currency in the virtual world of Metaverse but here most of the cryptocurrencies are too volatile even Bitcoin and Ethereum like assets are not best to fit in Metaverse, but here stablecoins may play a better role.
However, in the present time, the Metaverse concept is in its initial stage but still, according to the Grayscale fund management firm, it can touch the $1 trillion market soon.