Raphael Thys
The metaverse is where billions of people will spend their time online in the future. It will be a vast digital landscape incorporating social networking, entertainment, shopping, business, education, gaming, and virtually everything else that we do on the Internet today. It is a shared space that blends the virtual and real worlds. It will grow beyond games into an open platform for everyone and will be the place where we work, socialize and play.
‘Metaverse’ is a term that was coined by Neil Stephenson in his 1992 novel Snow Crash. He envisioned a future where people could connect with each other in an immersive, shared virtual world. But the growing technological advances have brought it closer to reality — and it’s happening faster than many expected.
Ready to be blown away by some staggering statistics about the Metaverse? The following facts represent only a fraction of what we’ve learned from our research into the Metaverse, but they are certainly enough to give you pause. Taken together, these statistics give a nice snapshot of the state of the Metaverse today and its massive growth potential in the future.
Metaverse Statistics
1. The concept of a metaverse is derived from Neal Stephenson’s epic novel Snow Crash published in 1992
Stephenson used the term to refer to a virtual universe inhabited by millions of users, who could interact with each other and with software applications in this environment. The book was credited with introducing the general public to the concepts of virtual reality and is often cited as the inspiration for modern-day virtual world platforms like Second Life.
The idea has been used many times before, both in cyberpunk fiction (William Gibson’s Neuromancer) and by non-fiction writers employing virtual reality to describe the potential of all online communities.
The word is often confused with the concept of the Internet or “cyberspace.” However, the Metaverse is not the same as cyberspace; it is a separate environment that exists on top of cyberspace, although some have argued that this distinction is becoming less clear. [1]
2. The market cap of Web 2.0 metaverse companies is 14.8 trillion USD
The Web 2.0 metaverse companies, took the stock market by storm in the late 2010s and the 2020s. The total market capitalization of these companies is estimated to be 14.8 trillion U.S. dollars (as of October 2021).
This estimate includes only metaverse companies that have significant revenue and/or market value. The total market capitalization of all metaverse companies will be slightly higher when taking into account hundreds of smaller companies and ventures that are currently operating in the field.
Web 2.0 metaverse companies are part of a larger paradigm shift in the way we interact with technology, called the “Internet of People”. The Internet of People is based on more than just a set of new tools; it is based on a new way of thinking about ourselves and others. It has the potential to change our culture and our way of life.
Growth rates vary among Web 2.0 metaverse companies with some growing at an exponential rate, while others are growing steadily. [2]
3. The market cap of Web 3.0 metaverse companies is 27.5 billion USD
The market capitalization of the Web 3.0 ecosystem is just 27.5 billion dollars, which makes it much smaller than the current Internet (Web 2.0). The Web 3.0 ecosystem is rapidly emerging, but it still has a long way to go before it can compete with the current Internet.
As many experts have stated in the past, there are some key differences between Web 3.0 and the current version of the Internet we use today. The Web 3.0 ecosystem will be far more decentralized than the current version of the web, with users having more control over their own data instead of relying on social media giants like Facebook and Twitter to store it for them. This will also allow users to earn money through online content creation and sharing – something that’s not possible now.
Totally decentralized, autonomous virtual worlds are finally becoming a reality. The technology to create virtual worlds with vast numbers of people interacting in real-time through the Internet is well understood. What’s lacking is the kind of compelling content that will bring people into these worlds and make them want to spend time there. [2]
4. Metaverse received over 84,000 mentions on social media in 2021
The word “metaverse” has been around since the mid-1990s, but it seems that it wasn’t until the previous year that it took everyone by storm. The idea of a metaverse spurred thousands of conversations on social media in 2021.
According to the Comscore, over 84,000 social media mentions of metaverse were recorded in 2021, and there was a peak of mentions on October 28. [3]
5. Facebook spent more than $10 billion in 2021 on its metaverse division
Facebook is serious about virtual reality, and it’s starting to show. And while there’s no question that VR and AR are still in their very early stages — especially when it comes to a killer app — it’s clear that Facebook is interested in building out an entire metaverse platform.
Facebook used more than $10 billion in 2021 to fund the development of its metaverse division. Facebook has invested heavily in its Facebook Reality Labs, which is working on immersive technologies to build a sophisticated metaverse that will change the way we connect.
With more than 2.6 billion users, Facebook has the potential to turn the metaverse into a thriving ecosystem for creators and consumers alike. Having such a massive audience, Facebook can become a powerful platform for creators to monetize their content and users to find engaging experiences. [4]
6. Zuckerberg does not expect the metaverse to establish for another ten years
Zuckerberg predicts it will take nearly a decade for the metaverse to be created. “I don’t think it’s really going to be huge until the second half of this decade at the earliest.”, Zuckerberg said.
Nearly a decade. Wow.
The words above, spoken by Mark Zuckerberg, are not just ordinary or casual words; they explain his prediction for the future. A future of the Metaverse; a concept that has captured the imagination of many futurists and science fiction writers alike, myself included. However, it’s hard to believe it will take a full decade to create such an expansive universe as described by Zuckerberg. [5]
7. The metaverse market is expected to reach nearly $800 billion by 2024
The metaverse market is projected to grow from $478.7 billion in 2020 to $783.3 billion in 2024, at a CAGR of 13.1%.
This growth is likely to come from the growing popularity of metaverse applications in gaming, AR, and VR. However, the sustainability of this projection will depend upon the awareness and speed at which developers are adopting new technologies. [6]
8. Video game makers have a $412.9 billion revenue opportunity in the metaverse
The metaverse opportunity for video-game makers could have the potential to grow to $412.9 billion in 2024, up from $274.9 billion in 2020, with a CAGR of 10.71%.
Video game makers will see the biggest opportunity for revenue from existing software and services, as well as the sales of gaming hardware. This expansion incorporates both existing gamers, who will increasingly seek out new and creative ways to use their gaming tools, and the mass adoption of VR hardware from the general public. [6]
9. 70% of gamers expect in-game social interactions to make them play more
Gamers are eager to meet online friends in the “virtual worlds” of their favorite game. 70% of gamers look forward to hanging out with other players in game-world locations and expect this to increase the amount they play.
This suggests that the metaverse could give gamers more incentive to play and that many consumers who have left their gaming days behind them will be interested in returning to video games. [12]
10. There are 60,000 active users of metaverse virtual worlds
The virtual worlds of the metaverse have attracted nearly 60,000 all-time users. This is a tenfold increase since the beginning of 2020. That’s a lot of people who love the metaverse!
The metaverse is still very much in development and has a lot of issues that need fixing before it can be considered close to being ready for mainstream use. However, even though it is still in development, people from all around the world are already using it and many businesses are already starting to adopt it for their own ends.
The metaverse is making an accelerated march towards connecting people and companies around the world in a shared virtual space to transact, communicate and collaborate. [7]
11. The average virtual land sale value in the metaverse is approximately $2000
The average price for a plot of land in the metaverse is about $2000. This figure has been continuously increasing. Moreover, all signs point to continued growth in the future as more and more people join the Metaverse, and developers continue developing various applications to use the blockchain.
In the metaverse, land is king. Just as in the real world, land in the metaverse is a limited resource. One of the ways to create wealth in the Metaverse is to hold land; this gives you a claim on all of the rent that users pay for occupying parts of it. [7]
12. The highest virtual property sale value in the metaverse is $2.4 million
Metaverse Group has purchased the Fashion Street Estate in Decentraland for 618,000 MANA ($2.4 million) making it the most expensive virtual real estate ever purchased.
In fact, it’s far more than what most homes in New York City and San Francisco cost.
The Canadian company plans to enter the digital-fashion industry with this purchase in Decentraland’s Fashion Street district. This would involve holding virtual fashion shows and selling avatar clothing.
For the uninitiated, Decentraland is an Ethereum-powered virtual reality platform on which users can create their own virtual worlds and experiences.
Users can buy land on Decentraland in the form of non-fungible tokens (NFTs). This means each LAND parcel has its own unique identity on the Ethereum blockchain. They are purchased using MANA tokens. LAND can be used to build anything you like – a game, a casino, an art gallery, a simulation, or a digital city. You can even rent your land to other users. [7]
13. Over $700 million has been spent on virtual land in the metaverse
The total amount (cumulative) spent on virtual land in the metaverse has surpassed $700 million as the metaverse economy continues to show sustained growth. This shows how popular metaverse has become not just in terms of users, but also in terms of economic value.
It is evident that this figure is not a final one and will continue to grow as more and more users purchase properties to build their own 3D homes for their avatars to live in.
The reason why people are willing to spend such a large amount of money on virtual land is that it allows them to personalize their properties and make them look unique. It is a form of investment as well since most of this land will increase in value over time. [7]
14. Metaverse is estimated to be a trillion-dollar revenue opportunity
It is estimated that metaverse, the world of virtual reality, could be a trillion-dollar revenue opportunity for companies in many different sectors.
This means there’s a lot of money out there for whoever can capitalize on it first. It’s kind of like the California gold rush — you have all this untapped wealth in the form of cryptocurrencies, but few know where to find it.
An addressable segment of the online world—gaming—is among the first areas to see value shift to Web 3.0, but the metaverse opportunity extends far beyond gaming. The potential for the Metaverse is immense, spanning multiple sectors and industries other than gaming, including healthcare, commerce, finance, social interaction, education, and retail.
The potential applications of this technology are endless. One possibility is that you could meet a stranger at a bar in real life, then go home together virtually, talking all the way through headsets. Or you could attend a virtual conference where you shake hands with attendees from all over the world, then all meet for drinks afterward.
Of course, these scenarios will require much better hardware than what we have now. But when that hardware arrives, it will open up all sorts of opportunities for businesses and governments alike — some of which haven’t been imagined yet. [8]
15. Web 3.0 & NFT companies have raised over $6.594 billion
As of January 9, 2021, the combined global fundraising of companies within the metaverse (Web 3.0 & NFT) space totaled $6.594 billion.
The market is still young and unbalanced, but the amount looks promising. Investors are increasingly interested in investing in this segment and see a bright future of the metaverse. Of course, it is still early to speak about any considerable success.
At this point, it’s still unclear whether any of these companies will become profitable and help make metaverse a mainstream technology. But if they do succeed, investors will be among the big beneficiaries. [9]
16. The debut sale of NFTs on Sotheby’s Metaverse platform generated nearly 18.7 million USD
Sotheby’s Metaverse platform sold 53 NFT’s valued at $18.7 million during their first auction, with an average price of $352,830 per NFT.
In its first major test, Sotheby’s Metaverse has showcased the ability to seamlessly connect the physical art world with its digital counterpart. In this way, it has created a bridge for artists to sell their work in new ways. This could potentially lead to entirely new genres of art being created and sold in the virtual space.
The main attraction of the auction was undoubtedly its novelty factor. The auction attracted a lot of attention from the NFT community, which was already fairly active at this time.
Artists will now be able to leverage the security, scale, and transparency of blockchain technology while also leveraging the traditional art auction systems that have worked so well in the past. This is a game-changer for both artists and collectors alike. [10]
17. Pepenopoulos is the most expensive NFT sold on Sotheby’s Metaverse auction
On October 26, 2021, Pepenopoulos, one of the most iconic virtual items in the Rare Pepe series, sold for 3.65 million USD on Sotheby’s Metaverse.
Pepe, first appeared in 2005 and was based on a webcomic by cartoonist Matt Furie. In 2008, Rare Pepe became an internet meme that spread on 4chan message boards. It features a variety of anthropomorphic frog characters, as well as other types of Pepe. The images are often used to express feelings that can be captioned with the frog character. The Rare Pepes are typically rare colored variations of the original Pepe.
Rare Pepes have been described as “an internet-born cultural phenomenon,” and have been featured in mainstream news outlets like CNN and The New York Times. [10]
18. In Nov 2021, 68% of adults in the US were not interested in Meta’s project metaverse
Facebook/Meta’s vision of the metaverse does indeed run into a lot of headwinds. According to a Morning Consult survey released in November 2021, 68 percent of respondents said they aren’t interested in the virtual reality environment (Metaverse) unveiled by Facebook/Meta.
This shows that most people don’t want to be surrounded by ads everywhere they go. Moreover, the privacy issues associated with virtual reality also make them concerned about their data being used without their consent.
Meta will have to work hard to make its vision a reality! [11]
19. Of those interested in the Metaverse: 56% are Male, whereas 42% are Female
Metaverse is bringing a new level of excitement and innovation to online entertainment in the form of virtual reality. But who is it for? A recent survey of more than 5,500 people has found that 56% of people interested in the metaverse are male and 42% are female.
The results were an interesting insight into the metaverse industry. It showed that it is predominantly driven by men, while still containing a lot of women who are interested in what the technology can achieve. The age group most interested in the metaverse is between 25-34 years old. [12]
20. 77% believe that the metaverse can cause serious harm to society
According to a recent survey, more than three-quarters of people believe that the so-called metaverse will have a negative impact on society.
The reason for this is simply because metaverse has the ability to immerse one so deeply into a virtual world that it may affect their real-life which could lead to problems like addiction, distraction, dissociation, lack of focus, etc.
Truly escaping into a virtual world would be easy to do and could make it difficult for someone to ever want to leave it. It is possible for some people to forget that they aren’t in a virtual world because it feels so real, and they become lost in their own fantasy. Because of this, there is the possibility that someone could lose touch with reality and become unable to distinguish between what is real and what isn’t. This could have adverse effects on people’s life. [13]
20. 54% choose not to look like their real selves in the metaverse
In the metaverse, people can be whoever and look however they want. This is definitely true for their avatars, which are often idealized versions of their real-life selves.
These findings come from our recent survey of 1,050 respondents who were asked about their relationships with their avatars and how they would design avatars to represent themselves in the metaverse. The results show that a significant number — admit they would make their virtual selves look completely different.
Fifty-four percent reported that their metaverse avatars would look different from their offline selves. This shows that virtual worlds can provide a place for users to experiment with their identities and try on different roles. [13]
21. The metaverse will require a thousand-fold increase in computational power
Intel is cautiously optimistic about the metaverse as it raises the question of whether or not there will be enough processing power to support the true realization of any metaverse ambitions.
Intel believes that a thousand-fold increase in computing capability will be required for the metaverse to come into being.
The metaverse will require processing power on an enormous scale. Moore’s law will not get us there even in the next five years, which means we need to find new ways of improving computer power. Put simply — At the current pace, it will take decades to achieve, and still up to 10 years before the metaverse becomes a reality. [14]
23. Nike has filed 7 trademark applications in preparation for its launch in the metaverse
The metaverse is coming and Nike wants to get there first. In its trademark application, Nike expressed interest in making and selling branded virtual sneakers and apparel.
We are entering a world of virtual reality. And before we know it, digital reality will be the norm. The digital revolution is like the industrial revolution: those who fail to adapt will face extinction.
Nike is one company that is adapting. Nike’s move into the metaverse is an investment in the future. They are betting on virtual reality, and they are preparing for a future where they are a major player.
Taken at face value, this indicates that Nike intends to sell products (sneakers and clothing) directly to consumers within the Metaverse. But it gets even more interesting. If you dig deeper into the application, you will find that Nike’s includes a broad range of virtual branding activities.
If you think about it for a moment, the idea of selling branded virtual goods is not completely crazy. Or rather, the idea of selling branded physical goods is not completely crazy: that’s how Nike makes most of its money.
If we can imagine a world where people buy things like sneakers and apparel from a company just because they like its brand, then why not a world where people buy things like sneakers and apparel from a company just because they like its digital brand?
Gear up, the Nike brand is about to enter a new dimension! [15]
24. Baidu says the metaverse is still 6 years away
Baidu, the Chinese search giant, and technology company, recently spoke to the press about its plans for the Metaverse.
Even though the technology is emerging, it could take up to 6 years before they will be able to fully deliver the metaverse in all of its glory. The firm’s vice president, Ma Jie, made the comments at a preview event.
The timeline outlines what the company views as the most important components of its vision for a digitally enhanced real world and when they might be ready. [16]
Conclusion
In this piece, we’ve taken a look at some of the most important statistics in regards to the Metaverse. From the total number of users to funding and usage, it’s all here.
The statistics and facts shared in this article are just scratching the surface of the Metaverse. There are many more out there for you to discover and learn about. The data is truly staggering, and if you’re a business owner, you need to be thinking about how this information affects your business and what you can do to take advantage of it.
Overall, the metaverse is still in its infancy, but it is growing quickly. The next ten years are going to be a time of rapid growth and development. One thing that we can be certain of is that the Metaverse will continue to dazzle us with mind-blowing innovations and advancements in technology, which will bring it ever closer to its potential as a tool for creativity.
Finally, we have reached the end of this article. We thank you for your attention and hope you’ve enjoyed reading the article and learned something new about the Metaverse. You are also welcome to copy any of these statistics to your own website or blog, but please reference this page as your source and let people know about our metaverse statistics page.
Until next time, have a blast exploring this new universe!