Citi predicts a $13T market for the metaverse economy

Plus, Tesla takes out a crypto-powered loan to buy real estate.

Inside.com Part of   Network April 01, 2022

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Citibank analysts have predicted that the metaverse economy could be worth $13T by 2030. The firm also predicted that the metaverse could reach 5 billion users in the same timeframe. More: Citi highlighted that for this to happen, the content streaming environment of the metaverse needs a computational efficiency improvement of over 1,000x today's levels. The bank believes that the metaverse is the next generation of the internet. Citi believes investment needs to be made in computing, storage, networking infrastructure, game development, and hardware.

6s Capital, a commercial lender powered by the blockchain-based lender MakerDAO, has secured a $7.8M loan for Tesla. MakerDAO is looking to diversify and grow its reserves and collateral through tangible assets. More: The loan will be used by Tesla to finance a new repair and collision center. 6s Capital helps institutional bridge borrowers and DeFi by helping its clients access Maker's vaults. In addition to Tesla, 6s also works with O'Reilly Auto Parts, Service King, and Wawa to finance real estate deals.

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Twitch co-founder Justin Kan's NFT marketplace, Fractal, received $35M in backing. Fractal's seed round was co-led by Paradigm and Multicoin with participation from Andreessen Horowitz, Solana Ventures, Coinbase, Animoca, and more. More: Fractal is focused on gaming NFTs on the Solana blockchain. Paradigm co-founder Matt Huang is joining Fractal's board. Fractal is attempting to position itself as the preferred marketplace of gaming companies.

In an interview with NBC's Chuck Todd, Sen. Elizabeth Warren (D-Mass.) said it's time that the U.S. adopts a digital currency. Warren also referenced the 2008 financial crisis as to why Bitcoin needs to be regulated.  More: Warren believes that if left unchecked, crypto could be this decade's real estate bubble. She didn't go into detail on what the regulations should be. Warren, along with others, has already moved forward with legislation to block crypto companies from doing business with sanctioned countries.

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Web3 Tweet: The metaverse will create opportunities where the real world can't.

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UPCOMING EVENTS April 04 - Blockchain and the Law (Register Here) April 05 - Venturing in VC - Episode #14 with Jay Kapoor (VSC Ventures) (Register Here) April 06 - Entertainment in the Metaverse (Register Here) April 07 - Road to Autonomy: Sidewalk Robots with Ali Kashani (Serve Robotics) (Register Here) April 13 - Achieve 1M+ Record/Second Kafka Ingest without Sacrificing Query Latency. (Register Here) * April 14 - Shopping In The Metaverse (Register Here) April 28 - Alternative Investments 2: Crypto Safety Standards (Register Here) May 12 - Making Metaverse Dating a Reality (Register Here) May 19 - Understanding Fractionalization (Register Here) May 24 - Meet Our Fund 3 (Register Here) May 31 - Ethereum Merge with Anthony Donofrio (Ethereum) (Register Here) June 01 - Selling Consumer Goods in Web3 (Register Here) *This is a sponsored listing.

Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering.   Connect with him on Twitter @trevorisonline Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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