Mark Zuckerberg, CEO of Meta, ex-Facebook, shared that Metaverse would become an essential part of his business, generating hundreds of billions of dollars in revenue. "Our textbooks have been building services over time, trying to serve as many people as possible," Zuckerberg said.

Mark Zuckerberg, CEO of Meta Platforms, formerly of Facebook, spoke about the Metaverse in an interview with CNBC's Mad Money host Jim Kramer on Wednesday.

The Facebook co-founder decribe that he expects the Metaverse to grow massively over the next decade and become an essential part of his Company's business. Commenting on Meta's efforts on the Metaverse, Zuckerberg said, "We hope to reach about a billion people on the Metaverse by trading hundreds of dollars each," he said, adding that people "can buy digital goods, digital content, [or] different things to express yourself" in the Metaverse.

Some examples people can buy are "clothes for their avatars or various digital items for their virtual homes or items to decorate their virtual conference rooms," Zuckerberg said. However, he adds that people can also "buy the utility to be more productive in virtual and augmented reality and across the metaverse."

However, he admits there's still a long way to go, saying: Zuckerberg envisions experiences in the Metaverse as more immersive than text, photos, or videos, noting that people can even make eye contact when they meet in the Metaverse. Nevertheless, technology "goes a long way in providing a realistic sense of presence," adds the Facebook co-founder.

"Right now, we are a company capable of making large long-term investments in research, which is a big focus," said CEO Meta.

Last week, Meta, Microsoft, also 31 other companies formed a standards group for Metaverse. In March, Meta filed eight trademark applications for the logo and Meta Pay, covering both Metaverse and crypto services.

Several large companies have estimated the size of the Metaverse. McKinsey & Company said last week that the metauniverse could generate $5 trillion by 2030. In March, Citi estimated that the metauniverse could be a $13 trillion opportunity with five billion users by 2030. In addition, global investment banks Goldman Sachs and Morgan Stanley see the Metaverse as an opportunity. Worth $8 trillion.