PayPal Survey Shows 80% of Metaverse Participants Utilize Crypto for Transactions

A new survey by PayPal found that 56% of metaverse users plan to increase their use of crypto over the next five years.

The survey, which was conducted in late 2022 and included 10,000 adults active in the metaverse, also found that 80% of metaverse users currently use crypto, while 97% of metaverse users hold coins.

The survey defined the metaverse as “a virtual space where users can act through an avatar and interact with each other and with a computer-generated environment.” It also cites both Meta and Roblox as metaverse companies.

The survey found that the most popular crypto coins used in the metaverse are Bitcoin (BTC), ether (ETH), and robux (RBX). The majority of metaverse users (75%) are interested in getting paid in crypto, and the majority (60%) would prefer to use crypto to make purchases in the metaverse.

However, the survey also found that the metaverse has a few hurdles to overcome when it comes to both interoperability and safety of funds. For example, the survey found that 65% of metaverse users are concerned about the security of their crypto assets.

Despite these challenges, the survey found that there is a lot of potential for crypto in the metaverse. The survey found that 80% of metaverse users believe that crypto will be the primary way to pay for goods and services in the metaverse within the next five years.