Let’s get deeper into the Metaverse (read Metaverse - Part 1 here). It is not an easy concept to wrap your head around and my interest is only to expose your mind to the sheer possibilities of this emerging tech.
According to Jensen Huang, the founder/CEO of chipmaker Nvidia (NVDA) the metaverse economy will be even bigger than the economy of the physical world. That’s a very bold statement to make. But mind you this is not coming from an economist, politician, or any media personality. Nvidia is the most sophisticated and cutting-edge chip maker in the world. Mr. Huang knows a thing or two better than us on emerging technologies.
A leading investment bank, Morgan Stanley, thinks that the addressable market for metaverse by 2030 will be to the tune of $8 trillion. That’s nearly twice the size of the existing global e-commerce market.
The last time we saw a big technological change of similar magnitude was with the introduction of the iPhone. The iPhone kicked off the smartphone revolution and it also changed the way we use the internet. With the rampant proliferation of COVID, lockdowns and testing around the world, the use of smartphones has become a necessity.
In Abu Dhabi (UAE), one cannot imagine an existence without a smartphone. It’s mandatory for everyone entering a mall, bank branch, or government office to produce a valid negative PCR-RT test certificate on their smartphone app. The developers created a plethora of apps on smartphones that didn’t exist on desktop PCs and laptops. Smartphones surely have changed the way we communicate and do commerce.
Under the 5G regime, the metaverse will become a game-changer. 5G has a much bigger capacity and nearly zero latency which will easily ramp up adoption in the metaverse. Facebook has clear ambitions to dominate the metaverse space in the years ahead and hence they changed their name to Meta. Soon after, Microsoft announced that it would pivot to focusing on the metaverse. Sotheby’s, the 275-year-old storied British auction house is creating a metaverse world that allows visitors to view digital artworks it’s auctioning. All this points to the interest shown by the billion-dollar multi-national corporations in this space and the opportunities that it provides.
Stay tuned for my next report to know some of the new entrants into this space.
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Abraham George is a seasoned investment manager with more than 40 years of experience in trading & investment and multi-billion dollar portfolio management spanning diverse environments like banks (HSBC, ADCB), sovereign wealth fund (ADIA), a royal family office and a hedge fund. Currently, he is setting up a hedge fund where foreign citizens can invest in Indian growth stocks like Tanla operating in hyper-growth markets like CPaaS.