The metaverse economy will stand somewhere between $8 to $13 Trillion by 2030.
Metaverse is the next iteration of the internet with an immersive experience. Here, you can
Socialize
Transact
Play games
Yes, Metaverse is much more than Virtual Reality(VR). In fact, VR will form only a subset of the experiences that metaverse will facilitate.
Latency needs to improve, and faster connectivity speeds are needed to further accelerate the already fast adoption.
The monetary system of the metaverse will comprise both - Digital native tokens & traditional forms of money.
Eventually, there will be only one metaverse and all the current metaverse platforms will get subsumed into it as interoperable virtual worlds.
Blockchain forms an integral part of the metaverse. It is used for record keeping and tracking digital assets.
Web 3 will provide the underlying framework to the metaverse. It will allow users to control and own their digital content.
NFTs will facilitate sovereign ownership. It will make digital assets tradeable, immutable, composable, and mostly interoperable.
Not yet, a lot of work is still to be done. The metaverse is still evolving and the legal system will need to catch up faster.