[eMarketer] The place and space of fintechs in the metaserve
Facebook’s rebranding as a metaverse innovator opens up opportunities for firms looking to embed fintech solutions into this next iteration of the digital realm.
What does the metaverse have to do with fintech? According to eMarketer, the ability to manage finances and transactions in this new environment will be key to making it as immersive and comparable to real life as Facebook hopes.
Facebook recently launched its digital wallet app, Novi, in the US and Guatemala. Coinbase is supporting the pilot by serving as the custody partner. This suggests Facebook will look to blockchain to power transactions in its metaverse.
As Facebook positions itself as the gatekeeper to its own metaverse, fintech startups could benefit from integrating their solutions into its ecosystem.
Alternatively, larger fintech players may explore creating their own metaverses: Coinbase’s upcoming NFT marketplace, for example, will include personal feeds based on each users’ interests to help connect them with like-minded users and creators.