Metaverse Virtual Assets - Belgium

The value of the Metaverse Virtual Assets market is projected to reach US$18.3m in 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2030) of 18.24%, resulting in a projected market volume of US$50.0m by 2030.
in Belgium, a country known for its rich history, is poised to play a significant role in this market segment.
The United States leads the way in generating value in the Metaverse Virtual Assets market, with a projected market volume of US$1.1bn in 2024.
This demonstrates the dominant position of the United States in the global digital economy and its influence in shaping the future of virtual assets.
Looking ahead, the number of users in the Metaverse Virtual Assets market is expected to reach 178.2k users by 2030.
This indicates a growing interest and adoption of virtual assets among individuals worldwide.
In 2024, user penetration is estimated to be 1.5% and is projected to increase to 1.5% by 2030.
This signifies a significant expansion of the user base over the forecast period.
Furthermore, the average value per user (ARPU) is expected to amount to US$106.9.
This metric provides insights into the economic potential and spending power of users in the Metaverse Virtual Assets market.
As the market continues to evolve, it will be interesting to observe how these figures fluctuate and the impact they have on the overall market dynamics.
Belgium's growing interest in Metaverse Virtual Assets is reflected in the increasing number of local virtual marketplaces and virtual asset collectors.

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 Belgium has been experiencing significant growth and development in recent years.

Customer preferences: Belgian consumers have shown a growing interest in virtual assets within the metaverse. This can be attributed to several factors. Firstly, the increasing popularity of online gaming and virtual reality experiences has created a demand for unique and personalized virtual assets. Players want to stand out and express their individuality within the virtual world, leading to a surge in the purchase and trade of virtual assets. Additionally, the younger generation in Belgium, who have grown up in a digital age, are more inclined to engage with virtual assets and explore the possibilities of the metaverse.

Trends in the market: One of the key trends in the Belgian Metaverse Virtual Assets market is the emergence of NFTs (Non-Fungible Tokens). NFTs have gained significant attention worldwide, and Belgium is no exception. These digital assets, which represent ownership or proof of authenticity of a virtual item, have opened up new opportunities for creators and collectors. Belgian artists and content creators have been quick to embrace NFTs, using them to monetize their digital creations and reach a global audience. This trend has created a vibrant marketplace for virtual assets in Belgium, with collectors and investors actively participating in auctions and sales. Another trend in the market is the integration of virtual assets into the real world. Brands and businesses in Belgium are starting to recognize the potential of the metaverse as a marketing and advertising platform. They are partnering with virtual asset creators and influencers to promote their products and services within virtual environments. This trend not only drives demand for virtual assets but also blurs the lines between the physical and digital worlds.

Local special circumstances: Belgium's central location in Europe and its strong digital infrastructure make it an attractive market for virtual asset companies. The country has a high internet penetration rate and a tech-savvy population, providing a conducive environment for the growth of the metaverse. Additionally, Belgium has a thriving gaming industry, with several local game development studios and a dedicated community of gamers. This ecosystem provides a solid foundation for the adoption and acceptance of virtual assets.

Underlying macroeconomic factors: The growth of the Metaverse Virtual Assets market in Belgium can also be attributed to underlying macroeconomic factors. The COVID-19 pandemic has accelerated the digital transformation across industries, leading to an increased reliance on virtual platforms and experiences. As people spend more time at home, they are seeking alternative forms of entertainment and social interaction, which has fueled the demand for virtual assets. Furthermore, the economic uncertainty caused by the pandemic has prompted individuals to explore new investment opportunities, with virtual assets offering a potentially lucrative option. In conclusion, the Metaverse Virtual Assets market in Belgium is experiencing significant growth and development, driven by customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing interest in virtual assets, the rise of NFTs, the integration of virtual and physical worlds, Belgium's digital infrastructure, and the impact of the COVID-19 pandemic are all contributing to the expansion of this market. As the metaverse continues to evolve, it presents exciting opportunities for businesses, creators, and consumers in Belgium.

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.