The new digital frontier: assessing the metaverse’s financial industry potential

Digital Reinvention
Q+
08/02/2023 Study
profile picture of Leandro Seligmann

Leandro Seligmann

Qorus Strategic Initiatives Coordinator

Today, the most popular way to experience the metaverse is via a video game played on a virtual reality (VR) headset. Online, multi-player, role-playing worlds like The Sims or Second Life have been around for nearly 20 years, but their modern equivalents like Minecraft, World of Warcraft and Fortnite have hundreds of millions of users, and huge supporting economies. As of 2022, metaverse companies have reached an estimated market cap of approximately $19 trillion

But in this study, we will discuss the ongoing prospect of the metaverse moving beyond gaming and ultimately unfolding a new frontier of opportunities for the financial services industry.

In spite of its potential for attracting catchy headlines and hefty investmnets, the metaverse does not yet have an industry-wide set definition. It can, however, be thought of as an evolving collection of real-time applications and experiences across devices: 

Subscribe to keep reading

Try the 30-day free content subscription and get full access

Related news & insights

Open Finance
07/06/2023 Interview

Pazapa: Developing the rent-to-own market in France

Basma El Aboudi is the Co-Founder of Pazapa, a French proptech startup specialized in real estate leasing. We spoke with...

Insurance
06/06/2023 Article

How Aon is becoming an insurance-focused mobility services integrator

London-headquartered global insurance broker Aon sought to provide policyholders with insured transportation choices through an all-in-one mobility platform that moves...

SME Banking
05/06/2023 Article

Financial services for the gig economy: Catering to the unique needs of independent workers

A recent Qorus report discusses the rise of the gig economy and its impact on the future of work and...

Sustainability & Regulation
05/06/2023 News

Helios launches a simulator to calculate the carbon footprint of your money in the bank

1000€ in a traditional bank emit an average of 475 kg eqCO2 per year.

Digital Reinvention
05/06/2023 Interview

Salmon: the sudden rise of a consumer finance challenger in the Philippines

Raffy Montemayor is Salmon’s Co-Founder and Business Head in the Philippines. He tells us more about the company, its offer...

Sustainability & Regulation
05/06/2023 News

Tandem delivers full year profitability for first time in the bank’s history

Tandem, the UK’s greener bank, delivers full year profitability for first time in the bank’s history after 12 months of...

Digital Reinvention
05/06/2023 News

CaixaBank helped ECB to develop a prototype to make immediate payments using the digital euro

CaixaBank has designed a mobile application prototype that simulates sending and receiving money instantly between individuals.

Open Finance
02/06/2023 Interview

NewTech Friday: Yalla – The super-app for individuals & businesses

Waleed Sadek is the CEO and Founder of Yalla. He tells Qorus about the Yalla platform, a digital financial services...