Haim Israel, a strategist from Bank of America, recently talked with the Insider about metaverse and how blockchain can benefit from it. The strategist stated that cryptocurrency could go mainstream with the help of metaverse.
The director of global strategist and research also acts as the international thematic research team at Merrill Lynch, Bank of America. Israel showed complete belief in the metaverse and how it can provide massive opportunities to the whole ecosystem.
Israel predicts that the metaverse will be where the market will start using crypto as currencies. The strategist emphasized on how the ecosystem can present prospects for crypto’s mainstream adoption. Israel was quick to state that existing cryptocurrencies are too volatile for such an establishment.
Thus, the Bank of America strategist sees stablecoins dominating the market under such circumstances. Ever since Facebook changed its name to Meta in October, the metaverse has gained immense popularity.
Decentraland recently witnessed a piece of real estate selling for 2.4 million dollars while Republic Realm spent 4.3 million dollars for a LAND in The Sandbox recently. Israel also sees standard payment institutions to join the flow and accept cryptocurrencies as their usage as the metaverse grows.
Israel added a statement addressing the sentiment, expressing how the strategist can see upcoming collaborations between the sectors.
Morgan Stanley, the global investment bank, also stated how the metaverse could be the upcoming storm in the investment space. Similarly, Grayscale Investments released a report talking about the metaverse and how it can possibly establish 1 trillion dollars business prospects.
With such figures and statements on display, the future for metaverse appears filled with positive outcomes.