Investing.com - Metaverse continue to attract attention, especially from institutional investors. Several major banks have launched metaverse projects and established a presence.
According to Citigroup (NYSE:C), the market is potentially huge. "The target addressable market for the metaverse economy is in excess of $10 trillion.
According to the bank, metavers could also attract a significant number of users.
"The experts who contributed to the report indicate a range of up to 5 billion users, depending on whether one adopts a broad definition (mobile phone user base) or only one billion based on a narrower definition (VR/AR device user base) - we adopt the former.
A new world opens its doors
The metaverse could be the next generation of the internet. It could combine the physical world with the digital world in an immersive way.
In the future, most users will probably have access to an immersive internet experience via their mobile phone with a smaller group accessing it through virtual reality devices.
However, the development of metavers is still limited by current technical characteristics such as latency or connection speed. The spread of technologies such as 5G could, however, help to expand the number of users.