The world of web3 is constantly evolving. Here are some key numbers, taken from our weekly ‘Inside the Metaverse’ newsletter, to give you a sense of where the emergent technology is now – and where it’s heading.
Metaverse, virtual reality and augmented reality
- 89.4 million Americans are expected to use virtual reality (VR) in 2022, according to eMarketer. That number, according to the same source, is expected to climb to 110.3 million in 2025
- 51% of gen Z and 48% of millennials envision doing some of their work in the metaverse in the next two years, according to Microsoft’s Work Trend Index 2022
- 38% of respondents said they would “try extreme sports like skydiving, bungee jumping, or paragliding” in the metaverse according to a recent Statista survey called ‘What things would you do in the metaverse but never in real life?’ Unsettlingly, 18% of respondents said they would “conduct unethical experiments on virtual humans”
- 87% of Americans between the ages of 13-56 would be interested in engaging with a virtual experience in the metaverse “that is built around a celebrity they love,” according to new research from UTA and Vox Media
- $678bn is forecasted to be the total market valuation of the metaverse by 2030, per Grand View Research. According to the report, that market value was just shy of $39bn in 2021, giving it a predicted compounded annual growth rate over a 10-year period of around 39%
- 46% of all people across age groups say that the ability to visualize a virtual product in an IRL context – “such as seeing a digital painting in their home using augmented reality (AR) glasses” – is the primary factor that would motivate them to make a purchase in the metaverse, per a Productsup survey
- 24% of US adult internet users say “that lower-priced VR headsets were a very important factor when deciding whether to try using the metaverse,” per a recent Statista survey. On the other hand, 54% say that their workplace using the metaverse would “not [be] important at all” in their decision to give the metaverse a try
- 15% of gen Zs’ “fun budget” is spent in the metaverse, per a report from Razorfish and Vice Media Group. In five years that number is projected to climb to 20%
- Nearly 77% believe that the metaverse “can cause serious harm to modern society,” per a recent survey from customer service platform Tidio. The survey, which received feedback from 1,000 participants, identified three major causes of anxiety related to the metaverse and its potentially negative social impacts: “addiction to a simulated reality” was the number one concern, followed by “privacy issues” and “mental health issues,” which were tied for second
- By 2026, about 2 billion people worldwide “will spend at least one hour a day in the metaverse to work, shop, attend school, socialize or consume entertainment,” per McCann Worldgroup. By that same year, the total value of the virtual goods market in the metaverse could be as high as $200bn
NFTs
- Over $37bn has been spent in NFT marketplaces as of May 2022, per data from Chainalysis. At their current rate, this year’s NFT sales could potentially surpass last year’s, which had a total valuation of around $40bn, according to the data
- $91.8m was the sale price of ‘The Merge,’ the most valuable NFT to date. Created by the artist Pak, it sold for its record-breaking value in December 2021
- 64% of sports fans are open to the idea of learning more about NFTs and would consider purchasing one in the future, according to the National Research Group. The report also found that 46% of sports fans “would be more likely to attend live sporting events if they were rewarded with a commemorative NFT – for example, if their ticket turned into a digital collectible after the game”
- Only 9% of people aged 16-44 own a NFT, and less than half (44%) have purchased or invested in crypto, per a new survey from agency SCS. On the other hand, among the survey’s 600 respondents, 64% were “aware” of the metaverse, and 65% of that subgroup say they are “interested in exploring it further for everything from traveling to new places and playing games to making money and shopping”
Crypto
- 54% of respondents believe it is very important that more brands accept cryptocurrency as a form of payment, despite the recent crash in the crypto market, according to a recent survey from Klaviyo
- $69,044. That’s currently the record-high value of Bitcoin, which the cryptocurrency achieved in November 2021, according to Forbes. As of March of this year, the value of Bitcoin – the world’s most popular cryptocurrency – has been plummeting rapidly. It currently stands at a little over $21,000, per data from Statista
- 64% of ad spend in the cryptocurrency space for Q1 in 2022 took place in February, with around $54m being spent on Super Bowl ads, according to MediaRadar. Crypto ad spend dropped precipitously in March to around $20m and again in April to around $10m, per MediaRadar
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