Meta co-founder Mark Zuckerberg expected that around five billion people will enter the metaverse space by 2030.
Zuckerberg aims to change his company's future through the metaverse project, describing it as an "embodied internet". The platform will contribute to the world's economy from $8trillion to $13trillion in eight years.
"We believe the metaverse may be the next generation of the internet — combining the physical and digital world in a persistent and immersive manner — and not purely a virtual reality world," Citi report indicated. "A device-agnostic metaverse accessible via PCs, game consoles, and smartphones could result in a very large ecosystem."
However, experts warn that the metaverse will "attract great scrutiny from global regulators and policymakers", citing content moderation, free speech, and privacy as some of the big concerns.
They also say that money in the metaverse could exist in different forms; such as game tokens and stablecoins, central bank digital currencies (CBDCs), and cryptocurrencies.
“In addition, digital assets and NFTs, in the metaverse will enable sovereign ownership for the users/owners and are tradeable, composable, immutable, and mostly interoperable," the report states.