Citigroup, one of the world's largest financial companies, talked about the increase in interest in Web3, and emphasized that Metaverse could enter a significant growth momentum depending on corporate use cases.

The financial institution mentions the potential of the Metaverse economy to reach 13 trillion dollars by 2030 in its report titled “Metaverse and Money”, which it recently published. While focusing on emerging technologies in the report, which deals with the near future of Metaverse, it is emphasized that the increasing interest of Metaverse moves in parallel with the increase in NFT popularity.

As Citigroup mentioned in its report, the effects of corporate interest on the Metaverse have started to be felt since the beginning of this year. For example, last month, HSBC, one of the largest banks in the world, made an agreement with The Sandbox to develop projects in the Metaverse field.

While the Citigroup report defines the next generation internet for Metaverse, this sector is seen as a way to successfully combine the physical and digital worlds. In the report, which also touched upon the usage areas of Metaverse, it is mentioned that Metaverse can be successfully used in gaming, commerce, media, health services, social collaborations and many other areas.

Considering these use cases, the market size is estimated in the Citi report, and it is estimated that the Metaverse market may turn into a market of 8 to 13 trillion dollars by 2030.

Metaverse and Finance

Citigroup, in its report, emphasizes that Metaverse should not be thought of only as virtual reality, while it also focuses on the fact that corporate use cases may enter a vertical growth in the next few years.

In the report written by Citigroup, a separate paragraph was opened on the Metaverse form of financial services. While using the term MetaFi in the report, it refers to the combination of the emerging field Metaverse and the financial sector, and it is thought that a significant part of the growth in emerging technologies will occur in this combination.

As mentioned in the Citigroup report, MetaFi will have its own unique products and will be a combination of decentralized finance (DeFi), centralized finance (CeFi) and traditional finance. In the Citi report, for Metaverse, which is thought to be used efficiently in the ongoing processes of trade from the initial stage of the finance sector, the thought that financial services can play an important role in changing the crust was also shared.