The report’s authors, Grayscale’s head of research David Grider and research analyst Matt Maximo, argued the metaverse is a huge opportunity for crypto companies.
Grayscale added that there are many opportunities for the monetization of consumers within Metaverses. This involves NFTs art galleries, digital advertising billboards, and music venues for artists to hold concerts.
In Q3, the total Web3 and NFT fundraising reached $1.8 billion, out of overall crypto fundraising of $8.2 billion, Grayscale said. It added that investment has “recently started to accelerate.”
The report by Grayscale concentrated on Decentraland. The virtual world allows users to play games and earn the platform’s native crypto MANA. Additionally, players can buy NFTs such as in-game collectibles and plots of land and even vote on the governance of the economy within DAOs (Decentralized Autonomous Organizations).
The crypto investment company recently created a Decentraland trust that invests solely in mana. The cryptocurrency is up around 550% in the last 30 days, according to Coingecko.
