82% of global consumers think that the finance industry will be impacted by the metaverse, according to a Wunderman Thompson Data survey conducted for Wunderman Thompson Intelligence in March 2022. Leading financial institutions share the sentiment, and are predicting that the metaverse will become a significant economic force. The metaverse economy could grow to $13 trillion by 2030, according to April 2022 analysis from Citi. Goldman Sachs and Morgan Stanley have each called the metaverse an $8 trillion market opportunity, while JPMorgan labeled the metaverse a $1 trillion annual opportunity in February 2022.
Leading financial and political players are taking steps to embrace digital economies. The New York Stock Exchange is preparing for NFT and cryptocurrency trading with a trademark application, filed in February 2022, for a virtual trading marketplace. Eric Adams, mayor of New York City, announced when he was elected in November 2021 that he would take his first three paychecks in Bitcoin, following Miami mayor Francis Suarez’s pledge earlier that month to receive his next paycheck in Bitcoin.
And yet, there is a lack of clarity around the metaverse. While the vast majority of global consumers (78%) report having some awareness of cryptocurrency, only 15% say they know what it is and can explain it well to someone else, Wunderman Thompson Data research for Wunderman Thompson Intelligence shows. Finance brands are stepping in to fill the gap in crypto education.