One of the World's largest banks, Citi said in one of its reports that the metaverse economy could be an $8 trillion to $13 trillion total addressable market by 2030. The bank's definition of the metaverse goes beyond sticking to virtual worlds, like gaming and applications in virtual reality. Facebook has invested $10B+ last year, hoping to take metaverse to a BILLION people. 27 million attended the Travis Scott metaverse concert. The Metaverse is definitely coming.
The foundational elements to build the metaverse include:
Next Gen 3D Creation Touls
Developer Tools for Web 3.0
5G CPUs / VR Headsets
Evolution of Gaming and Social Media Platforms
Convrse is well-positioned to tap the Next Gen 3D Creation tools sector. 3D content has two main building blocks : 3D Models and 3D Spaces. While there are a few workflows available for 3D assets creation, there are hardly any for 3D spatial design. And that is what they are building. Metaverse will need experiences like virtual amusement parks, virtual movie theatres, virtual concerts, virtual casinos, virtual schools, virtual conferences, anything you can name it.
The company has demonstrated significant traction and growth in recent months, attracting commitments from reputable web3 investors and establishing partnerships with leading brands, institutes, and metaverse platforms. With a team of experienced founders and a deep understanding of the 3D and VR space, Convrse is well-equipped to capitalize on the growing demand for immersive digital experiences in the web3 ecosystem.
Furthermore, Convrse's roadmap outlines a clear path for expansion, including integrations with game engines and metaverse platforms, the development of a generative AI-based creation tool, and partnerships with key stakeholders in the web3 space. These strategic initiatives position Convrse for continued growth and market leadership. Overall, we believe that Convrse has the potential to revolutionize the way 3D environments are created, distributed, and consumed.