Financial services multinational group Citibank estimates the total addressable market for the metaverse economy will be $8 trillion to $13 trillion by 2030 with 5 billion users.
Citi says the infrastructure of the ecosystem must be augmented 1000 times with major investments in storage, consumer hardware, network systems, and gaming.
The bank observes that the interest in metaverse among users is driven by the sale of non-fungible tokens and the uptake by the corporations.
The institution adds that the current most popular metaverse experience is in the Virtual Reality video games but projects a wider expansion into the web 3.
The report adds that the metaverse will be fully managed and owned by a community with use cases cutting across commerce, art, media, advertising, and healthcare.
Metaverse is an immersive virtual world that combines virtual reality, the internet, and augmented reality.