LinkedIn CEO Expects More Metaverse Investments

The Metaverse is one of the fastest growing areas of the cryptocurrency space and is expected to get even bigger in the coming year.

LinkedIn CEO and co-founder Reid Hoffman believes that the Metaverse space will experience massive growth and investment in the coming year. This was announced by the LinkedIn manager in a recent interview with CNBC. Hoffmann said;

“We are already in it; it is already developing and is an integral part of our life. Right now we are talking through the metaverse. The Internet is almost like an early version of it.”

According to Hoffman, the metaverse is no longer an idea or a concept. Instead, he believes that the metaverse is already there, and the Internet is just an early version of the metaverse itself. The CEO of LinkedIn added that he expects the Metaverse space to be conquered by companies focused on leveraging their use cases.

Social media giant Facebook renamed itself Meta two months ago to expand its portfolio and become one of the world’s leading metaverse companies. Hoffman said Meta already has the numerical advantage in the social media sector, and the company will have to develop several use cases if it is to become the dominant force in the Metaverse world.

In the cryptocurrency space, Metaverse-focused projects have received a lot of attention from investors since the beginning of the year. Projects such as Decentraland, Axie Infinity and The Sandbox have seen a huge increase in both the number of users and investors.

As a result, metaverse-focused projects in the cryptocurrency space now have a combined market capitalization of over $5 billion. The Metaverse is still in its infancy. Market experts believe that with increasing acceptance in retail and among institutional investors, more investments will be made.

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