Metaverse Virtual Assets - Colombia

The Metaverse Virtual Assets market is projected to reach a value of US$13.8m in 2024.
This market is expected to show an annual growth rate (CAGR 2024-2030) of 23.77%, resulting in a projected market volume of US$49.6m by 2030.
in Colombia, as a country, plays a significant role in this market segment.
In 2024, United States leads the market with a projected market volume of US$1.1bn.
The number of users in the Metaverse Virtual Assets market is expected to reach 623.3k users by 2030.
User penetration is projected to be 1.0% in 2024 and is expected to increase to 1.2% by 2030.
The average Value per user (ARPU) is expected to amount to US$27.2.
Colombia is witnessing a growing demand for Metaverse Virtual Assets as its tech-savvy population embraces the potential of this emerging market.

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 Colombia is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Colombia are shifting towards virtual assets in the Metaverse as consumers seek new forms of entertainment, social interaction, and investment opportunities.

The younger generation, in particular, is embracing the concept of the Metaverse and actively participating in virtual worlds. They are drawn to the immersive experiences, virtual economies, and the ability to connect with others from around the world. Additionally, the convenience and accessibility of virtual assets appeal to consumers who are looking for alternative ways to engage with digital content and services.

Trends in the market are also contributing to the growth of the Metaverse Virtual Assets market in Colombia. The increasing popularity of blockchain technology and non-fungible tokens (NFTs) has created new opportunities for virtual asset ownership and trading. NFTs, in particular, have gained traction in the art and gaming sectors, allowing users to buy, sell, and trade unique digital assets.

This trend has led to the emergence of virtual art galleries, virtual real estate marketplaces, and virtual gaming platforms in Colombia. Furthermore, the integration of virtual reality (VR) and augmented reality (AR) technologies into the Metaverse has enhanced the immersive experience for users, driving further adoption and engagement. Local special circumstances in Colombia are also contributing to the development of the Metaverse Virtual Assets market.

The country has a vibrant creative and gaming industry, with a growing number of local developers and content creators. This has led to the production of unique virtual assets and experiences that cater to the local market. Additionally, Colombia has a large population of tech-savvy individuals who are early adopters of new technologies.

This tech-savvy population is driving the demand for virtual assets and contributing to the growth of the market. Underlying macroeconomic factors are also playing a role in the development of the Metaverse Virtual Assets market in Colombia. The country has a stable economy and a growing middle class, which provides a favorable environment for consumer spending on virtual assets.

Additionally, the government has shown support for the development of the digital economy and has implemented policies to attract investment in the technology sector. This has created opportunities for local startups and entrepreneurs to innovate and create new virtual assets and experiences. In conclusion, the Metaverse Virtual Assets market in Colombia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As consumers embrace virtual assets and the Metaverse, the market is expected to continue expanding in the coming years.

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.