September 28, 2022

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Metaverse Will Be Most Popular Place to Buy, Trade, Store Cryptocurrency, Survey Shows

Metaverse Will Be Most Popular Place to Buy, Store, Trade Cryptocurrency, Survey Shows

The metaverse will become the most popular place to buy, sell, and trade cryptocurrency, according to a recent survey. In addition, 70% of respondents agreed that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse.”

Survey: Metaverse Will Be the Most Popular Place for Crypto

Nasdaq-listed Agora (NASDAQ: API), a video, voice, and live interactive streaming platform, conducted a survey on the metaverse and published the results Tuesday.

The company asked 300 U.S.-based developers a set of questions “to learn more about what they thought about the metaverse and what we will see in the coming years,” Agora detailed. Developers were surveyed because for them, “the growth of the metaverse allows the development of new communities and allows them to better connect with users,” the company explained.

According to the results:

57% of respondents think that the metaverse will become the most popular place to buy, store and trade cryptocurrency, while 18% disagree and 25% feel neutral.

In addition, 70% agreed that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse,” while 9% disagreed.

Regarding non-fungible tokens (NFTs), “The majority of developers are bullish on NFTs and believe they will become the biggest [currency] in the near team,” the survey results note.

Survey participants were also asked who they think will own the metaverse. 55% of respondents said Meta (formerly Facebook), 9% said Google, 7% said Microsoft, 6% said Apple, and 5% said Amazon.

Meta recently filed eight trademark applications covering the metaverse and a wide range of crypto services.

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A number of analysts have estimated the size of the metaverse. Last month, Citi predicted that the metaverse could be a $13 trillion opportunity with five billion users by the year 2030. Meanwhile, investment banks Goldman Sachs and Morgan Stanley both said the metaverse could be an $8 trillion opportunity.

In February, JPMorgan opened a lounge in Decentraland after stating that “The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.”

Do you think that the metaverse will be the most popular platform to buy, sell, and store cryptocurrencies? Let us know in the comments section below.