According to a recent survey, the metaverse will become the most popular place to buy, sell, and trade cryptocurrencies. Furthermore, 70% of respondents agreed that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse.”
On Tuesday, Nasdaq-listed Agora (NASDAQ: API), a platform for video, voice, and live interactive streaming, released the results of a survey it conducted on the metaverse.
The company asked 300 U.S.-based developers a set of questions “to learn more about what they thought about the metaverse and what we will see in the coming years,” Agora stated. According to developers, “the growth of the metaverse allows the development of new communities and allows them to better connect with users,” the company explained.
According to the results:
57% of respondents think that the metaverse will become the most popular place to buy, store and trade cryptocurrency, while 18% disagree and 25% feel neutral.3
Additionally, 70% of respondents agreed that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse,” while 9% disagreed.
Regarding non-fungible tokens (NFTs), “The majority of developers are bullish on NFTs and believe they will become the biggest [currency] in the near team,” says the survey.
Participants in the survey were also asked who will own the metaverse. Meta (formerly Facebook) was selected by 55% of respondents, followed by Google with 9%, Microsoft with 7%, Apple with 6%, and Amazon with 5%.
Meta filed eight trademark applications that cover a broad range of crypto services and the metaverse.
Several analysts have estimated the size of the metaverse. By 2030, Citi estimated the metaverse could generate $13 trillion in revenue and have five billion users. Both Goldman Sachs and Morgan Stanley said the metaverse could be worth $8 trillion.
JPMorgan opened a lounge in Decentraland in February, claiming that “the metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.”