Ark Invest’s Cathie Wood calls metaverse a ‘big idea that will infiltrate every sector’

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Ark Invest founder and CEO Cathie Wood opined in a recent inter­view with CNBC that the meta­verse will be a “mul­ti­tril­lion-dol­lar oppor­tu­ni­ty.” In this con­text, she fur­ther stat­ed,

“It’s a big idea that will prob­a­bly infil­trate — just like tech­nol­o­gy is, any­way — every sec­tor in ways that we can­not even imag­ine right now.”

We can say that Meta­verse is at the fore­front of the Web 3.0 evo­lu­tion. So much so that Face­book rebrand­ed itself as Meta and Grayscale stat­ed that Meta­verse has the poten­tial to become a tril­lion-dol­lar indus­try by 2022.

While Wood is pos­i­tive that the Meta­verse will impact all eco­nom­ic activ­i­ty, she believes that the future will see its appli­ca­tion beyond gam­ing and con­sumer goods. She also said,

“We’re going to have our dig­i­tal twins, and it’s going to enable a lot of fun and a lot of efficiencies.”

With that, it is worth not­ing that last week saw over $100 mil­lion in Meta­verse land sales, as per Dap­pRadar. Also, The Sand­box, Decen­tra­land, Cryp­toVox­els, and Som­ni­um Space saw buy­ing traf­fic of 6000 traders. There­in, Sand­box saw the most trac­tion with more than $86 mil­lion in land sales.

The report also spec­i­fied that these meta­verse “big four” are even out­per­form­ing major NFT projects. It stated,

“Undoubt­ed­ly, meta­verse land is the next big hit in the NFT space.”

In the sports are­na as well, the meta­verse is a hot top­ic. Recent­ly, Eng­lish soc­cer club Man­ches­ter City announced a part­ner­ship with Sony to cre­ate a vir­tu­al world. In a state­ment, it said,

“Sony will con­duct a PoC (proof of con­cept) with Man­ches­ter City, aim­ing to devel­op new forms of dig­i­tal con­tent and ser­vices that inte­grate the phys­i­cal and vir­tu­al worlds…”

After Nike revealed its meta­verse plans, Adi­das also leaped into the vir­tu­al space.

With the space see­ing so much activ­i­ty, DOGE­fa­ther Elon Musk doesn’t seem to be entire­ly onboard the Web 3.0 rev­o­lu­tion. Even so, sev­er­al Chi­nese com­pa­nies are grab­bing the oppor­tu­ni­ty to reg­is­ter ear­ly Meta­verse trade­marks with names like Baidu and NetEase as frontrunners.

NetEase’s founder and CEO, William Ding Lei had recent­ly stat­ed,

“When the meta­verse even­tu­al­ly arrives… We’ll prob­a­bly be the fastest run­ners around.”



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