Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:
By 2030, metaverse revenues p.a. to be worth more than the GDP of Japan - it is estimated that the metaverse will generate $5trillion of turnover by 2030; that is, more than the GDP of the world’s third largest economy. Globally, the metaverse is set to change the tourism, retail, entertainment and education sectors, to name just a few, and potentially alter city plans.
Whose money is it anyway? How blockchain technology can give control back to investors - it is easy for asset managers to be complacent and forget that they are purely the managers of other people’s money. Whilst these managers believe they are acting in the best interest of their mutual fund holders pursuing ESG practices, such unit holders are not able to vote on corporate matters nor enjoy shareholders perks. There has been a trend to general disengagement between the actual shareholders and the boards of quoted companies since some forget whose money is it anyway. By offering digital versions of traditional assets, we can offer greater transparency and inclusiveness and hopefully more direct engagement with organisations and investors.
NFTs are alive and well - even in the face of a downturned market, enthusiasm and optimism still exist amongst early NFT adopters. This was evident in the recently held NFT.NYC, which was the largest global NFT event to date with over 16,000 attendees. Thought leaders in every category of NFT shared their thoughts about the current market and future trends. In addition, many major brands participated by sharing how they are using NFTs to engage with their fans.
Why I will fight CBDCs all the way - central bank digital currencies are beloved of central bankers and governments, but what do they mean for the average citizen? Could we be staring down the barrel of autocratic government underpinned by a digital currency that, whilst convenient, gives far too much power to the central authority?
Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM featuring Jasmine Birtles from MoneyMagpie