Unpacking The $800 Billion Elephant In The Metaverse

The metaverse as advertised promises a decentralized network of environments leveraging blockchain technology to overcome the limitations of the physical world. Yet, many skeptics believe the metaverse and underpinning cryptocurrencies are a farce only conceived to make a select minority rich. Either way, the metaverse is set to become embedded in every industry, from gaming, to fashion, to real estate. A construct of contemporary society, the global metaverse revenue opportunity could approach $800 billion in 2024, and left unchecked it will adopt whiteness as the societal default. 

How Racial Inequity Adds $51 Trillion Drag To The U.S. Economy

Economists have taken on the task of quantifying the cost of racial inequity on the U.S. economy over the past 30 years, through a report published by the Brookings Institute along with Federal Reserve Bank of San Francisco President Mary Daly. Using white men as the basis of parity, they estimate the U.S. GDP could have gained $51 trillion ($23 trillion from labor alone) since 1990 if racial gaps were closed. In 2019, over the period of just one year, the potential gains from equity total $2.6 trillion. This is just another addition to a growing portfolio of literature that quantifies the tremendous cost of discrimination in this country.

Addressing The $800 Billion Elephant In The Metaverse

By Namon Freeman Dark-skinned or female NFTs used as metaverse avatars see less demand and are valued less The global metaverse revenue opportunity could approach $800B in 2024 The metaverse as advertised promises a decentralized network of environments leveraging blockchain technology to overcome the limitations of the physical world. Yet, many skeptics believe the metaverse