New research by leading digital currency investing and cryptocurrency asset management company, Grayscale, has revealed that the Metaverse is estimated to be worth a trillion dollars.

The report also revealed that the all-time active users of the web 3.0 metaverse have reached 500,000, growing 10x since the beginning of 2020.

“The Metaverse is estimated to be a trillion-dollar revenue opportunity across advertising, social commerce, digital events, hardware, and developer/creator monetization,” the report read.

In the last 24 hours, bitcoin has been up by 4.05%, with a current price of $58,686.08 as of the time of writing this. Within 24 hours, bitcoin dropped to $55,909 low and $58,873.60 high. The trading volume of bitcoin in the last 24 hours is $1.21B. The current market capitalization of bitcoin is $1.11T. Currently, $18.88M bitcoins are in circulation.

Stats and Image from Coin Desk

The report also showed that over $200 million has been spent by metaverse users on virtual land, goods, and services.

According to the new report, with a larger interconnected crypto cloud economy, the Web 3.0 Metaverse world has created a new online experience that’s already attracting users.

The Metaverse is experiencing a wide adoption by various industries such as art galleries, business offices, games and casinos, advertising, sponsored, content and music venues.

The Metaverse has come to crumble the domination of web 2.0 centralized companies, and give developers and web users the freedom and opportunity to earn as they use.