Metaverse Market Could Be Worth $13 Trillion By 2030, Citibank Says; Shiba Inu earning bitcoin
The metaverse economy could be valued at $8 trillion to $13 trillion by 2030, according to a Citibank report. Meanwhile, a group of Taiwanese puppeteers want to use non-fungible tokens (NFTs) to bring their traditional street entertainment culture into the digital world.
The global crypto market cap rose 5.46% to $2.15 trillion as of 8:50 a.m. ET. However, the global cryptography volume fell 7.01% to $124.96 billion, according to data from Coinmarketcap.
“As volatility subsided, Bitcoin recovered above $46,000 and Ether rose 7% in the past 24 hours. Among the major altcoins, Solana saw a significant increase of 13.3%,” says Gaurav Dahake, CEO and Founder of Bitbns.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $46,462.38, up 4.31% in the past 24 hours.
Ethereum (ETH), the second-largest cryptocurrency by market cap, was also trading down 7.13% at $3,463.83.
We believe the Metaverse is perhaps the next generation of the Internet – combining the physical and digital world in a persistent and immersive way – and not just a virtual reality world. Learn more in our latest #Citi GPS report: https://t.co/Gmz3ZK1U9K pic.twitter.com/YCVtcKhjc9
—Citi (@Citi) April 1, 2022
Among other major coins, Cardano (ADA) rose 5.8% to $1.17, Algorand (ALGO) 6.72% to $0.9568, Binance Coin (BNB) 7.26% to 447 $.59, Solana (SOL) was up 13.18% at $134.65, and Polkadot (DOT) was also trading up 6.28% at $22.15.
Today’s top gainer was Blockchain Brawlers (BRWL), which rose 358.04% to $0.5342. The big loser was Geojam Token (JAM), which fell 23.92% to $0.01723.
Meme Coin and DeFi prices
Dogecoin (DOGE) rose 5.88% to $0.1427. Its volume to market capitalization ratio is 0.03934. Rival Shiba Inu (SHIB) rose 5.54% to $0.00002643.
Dogelon Mars (ELON) traded with a gain of 11.84% at $0.000001042, Floki Inu (FLOKI) was up 5.11% at $0.00003518 and Samoyed Coin (SAMO) also gained 17 .19% to $0.02478.
In the DeFi segment, YFI (yearn.finance) was trading with a 6.74% gain at $23,604.59. Terra (LUNA) rose 7.47% to $107.16. Avalanche (AVAX) gained 5.84% to $97.11, Uniswap (UNI) also rose 4.52% to trade at $11.58, and Aave (AAVE) gained 13.54% to $244.66.
Citibank said in the report that for the metaverse market to reach the total addressable market (TAM) of up to $13 trillion, significant investment is needed in areas such as storage, network infrastructure, consumer hardware and game development platforms, Coindesk reported.
Seika Huang, Brand Manager, Pili International Multimedia, which produces Taiwan’s longest-running TV show featuring puppets, said, “The kind of imagination that everyone has these days for the online world is developing so rapidly that we are almost unable to grasp it,” reported Ndtvgadgets360.