Metaverse Virtual Assets - Baltics

The Metaverse Virtual Assets market is anticipated to reach a value of US$4.3m in 2024.
It is projected to experience a compound annual growth rate (CAGR) of 18.68% from 2024 to 2030, resulting in a market volume of US$12.0m by 2030.
The United States is the leading generator of value in this market, with a projected market volume of US$1.1bn in 2024.
In terms of user base, the number of users in the Metaverse Virtual Assets market is expected to reach 80.2k users by 2030.
The user penetration rate is forecasted to be 1.2% in 2024 and is projected to increase to 1.4% by 2030.
The average value per user (ARPU) is expected to be US$59.6.
It is worth noting that these projections and figures specifically relate to the Metaverse Virtual Assets market.
Additionally, United States holds a prominent position in this market.
Turning our focus to the Baltics, it is important to acknowledge that these market insights are not specific to this region.
However, the Baltics can still contribute to and benefit from the growth of the Metaverse Virtual Assets market.
The demand for Metaverse virtual assets is surging in the Baltics, with a growing number of individuals and businesses investing in digital properties and virtual currencies.

Definition:

The Virtual Assets market refers to the buying, selling, and trading of digital assets within virtual worlds and metaverse platforms. These assets range widely and include virtual currency and virtual collectibles.

Structure:

The Virtual Assets market includes Cryptocurrencies and NFTs. Cryptocurrencies refer to digital or virtual currencies that use cryptography for security, are decentralized, and operate independently from a central bank. They can be used as a medium of exchange within virtual worlds and metaverse platforms, which enable users to buy and sell virtual assets and make transactions without the need for a traditional financial intermediary. NFTs, or non-fungible tokens, are a type of digital asset that represents ownership of a unique item, such as a virtual collectible, virtual artwork, or virtual real estate property. Unlike cryptocurrencies, NFTs cannot be replaced by an identical copy, and their ownership is verified on a blockchain ledger. NFTs can be used to represent ownership of virtual assets within virtual worlds and metaverse platforms, and they can be bought, sold, and traded just like physical assets.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes show transaction values generated thorugh the metaverse using virtual assets. Market numbers for Virtual Assets are also featured in the Digital Media insights. Most used cryptocurrencies and NFTs in the market include Ethereum, Bitcoin, and Enjin Coin. For more information on the data displayed, use the info button right next to the boxes.

Cryptocurrencies used to buy goods in the metaverse, such as Ethereum
Non-fungible tokens bought in and for the metaverse, such as on OpenSea

Non-related metaverse transactions with cryptocurrencies, such as buying physical good with Bitcoin
Non-related metaverse transactions of Non-fungible tokens, such as buying digital art or collectibles

The Metaverse Virtual Assets market in Baltics is experiencing significant growth and development, driven by customer preferences for immersive virtual experiences, increasing digitalization, and the rise of blockchain technology. Customer preferences in the Baltics are increasingly focused on immersive virtual experiences, with consumers seeking out opportunities to engage with virtual reality (VR) and augmented reality (AR) technologies.

This has led to a growing demand for Metaverse Virtual Assets, which allow users to customize their virtual identities, environments, and experiences. Additionally, the Baltics have a strong gaming culture, with a large number of gamers who are willing to invest in virtual assets to enhance their gaming experiences. In line with global trends, the Metaverse Virtual Assets market in the Baltics is also benefiting from the increasing digitalization of society.

As more people spend time online and engage in virtual communities, the demand for virtual assets is growing. This is particularly evident in the gaming industry, where virtual assets such as skins, weapons, and accessories have become highly sought after by players. The Baltics, with their tech-savvy population and high internet penetration rates, are well positioned to capitalize on this trend.

Blockchain technology is another key driver of the Metaverse Virtual Assets market in the Baltics. Blockchain provides a secure and transparent platform for buying, selling, and trading virtual assets, which has increased trust and confidence in the market. Additionally, blockchain technology allows for the creation of unique and scarce virtual assets, such as non-fungible tokens (NFTs), which have gained significant popularity in recent years.

The Baltics, with their strong tech startup ecosystem and expertise in blockchain technology, are at the forefront of this innovation. Local special circumstances in the Baltics, such as a relatively small population and limited physical resources, have also contributed to the development of the Metaverse Virtual Assets market. The virtual world offers an unlimited space for creativity and exploration, allowing individuals and businesses in the Baltics to overcome geographical constraints and reach a global audience.

This has opened up new opportunities for entrepreneurs and content creators to monetize their virtual assets and services. Underlying macroeconomic factors, such as a growing digital economy and favorable government policies, have further supported the growth of the Metaverse Virtual Assets market in the Baltics. The Baltics have been actively promoting digital innovation and entrepreneurship, creating an environment conducive to the development of the virtual assets market.

Additionally, the region's strong internet infrastructure and high smartphone penetration rates have enabled widespread access to virtual platforms and experiences. In conclusion, the Metaverse Virtual Assets market in the Baltics is experiencing significant growth and development, driven by customer preferences for immersive virtual experiences, increasing digitalization, the rise of blockchain technology, local special circumstances, and underlying macroeconomic factors. This market is expected to continue to expand as technology advances and consumer demand for virtual assets grows.

Data coverage:

Figures are based on transaction values, revenues, and assets under management.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.