Morgan Stanley Sees Metaverse As $50B Opportunity

Morgan Stanley sees digital demand for fashion and luxury brands growing from current low levels and reaching $50 billion by 2030, Reuters reports.
"We expect the whole sector to benefit from the advent of the Metaverse, but see the soft luxury brands (ready-to-wear, leather goods, shoes, etc.) as particularly well-positioned as opposed to hard luxury (jewelry and watches)," it said.
The NFTs (non-fungible tokens) and social gaming could expand the luxury group's total addressable market by over 10% in eight years and boost industry earnings before interest and tax by around 25%.
Noting how one in five Roblox Corp RBLX gamers update their avatars daily, luxury brands are exploring several collaborations with gaming and Metaverse platforms.
It also said Italian brand Dolce & Gabbana's recent sale of nine NFTs for $5.7 million highlights the virtual and hybrid luxury goods' massive potential over the coming years.
Price Action: RBLX shares traded higher by 5.38% at $113.87 on the last check Tuesday.