Cathie Wood, CEO of Ark Invest, says Metaverse will be a multi-trillion dollar market - Metaverse

Ark Investment Management CEO Cathie Wood says the metaverse can become a multi-trillion dollar market. “It's a big idea that will likely infiltrate every sector in ways we can't even imagine right now,” she said.

Cathie Wood believes the Metaverse will be a multi-trillion dollar opportunity

Cathie Wood, CEO of Ark Investment Management (Ark Invest), shared her prediction about the metaverse in an interview with CNBC last week. She explained that the Metaverse will be a multi-trillion dollar opportunity that will impact every part of the economy.

The CEO of Ark Invest said:

It's a big idea that, like technology, will likely infiltrate every sector in ways we can't even imagine right now.

The Metaverse has received a lot of attention after social media giant Facebook changed its name to Meta.

Wood was asked if she thinks the Metaverse can become a multi-trillion dollar market. She simply replied, “We do.”

Ark Invest CEO noted that the Metaverse will move significantly away from the current focus on gaming and consumer products, stating:

We will have our digital twins, and it will enable a lot of fun and a lot of efficiencies.

Recently, Grayscale Investments released a Test report “The market opportunity to bring the Metaverse to life could be worth over $1 trillion in annual revenue, competing with Web 2.0 companies with a market value of approximately $15 trillion today.”

Last week, Bank of America strategist called that the Metaverse represents a tremendous opportunity with cryptocurrencies being widely used as currencies.

However, some are skeptical about the Metaverse. They pointed out that people have been playing games in virtual worlds for years and stressed that the idea is far from revolutionary. Raj Gokal, co-founder of Solana Labs, tweeted last week: "I'm worried that the metaverse (industry-wide) is being overhyped. I've never seen so much hype in mainstream media about an unreleased product or product category, perhaps ever."

Do you agree with Cathie Wood that the Metaverse is becoming a multi-trillion dollar market? Let us know in the comments section below.

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