Metaverse Virtual Assets - Eastern Asia

The Metaverse Virtual Assets market is anticipated to reach a value of US$288.4m in 2024 in Eastern Asia.
The market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 20.42%, resulting in a projected market volume of US$879.1m by 2030.
The United States, with a projected market volume of US$1.1bn in 2024, generates the majority of the value in this market segment.
In Eastern Asia, the number of users is projected to reach 3.6m users by 2030.
The user penetration is forecasted to be 0.2% in 2024 and is expected to increase to 0.2% by 2030.
The average value per user (ARPU) is projected to be US$90.2.
In South Korea, the demand for Metaverse Virtual Assets is skyrocketing as the country embraces the virtual economy.

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 Eastern Asia is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Eastern Asia are playing a crucial role in the development of the Metaverse Virtual Assets market.

The region has a large and tech-savvy population that is highly engaged with digital platforms and virtual experiences. Customers in Eastern Asia have shown a strong interest in virtual assets, such as virtual real estate, virtual currencies, and virtual collectibles. These assets provide them with a sense of ownership and status within the virtual world, allowing them to express their individuality and participate in unique virtual experiences.

Trends in the market are also contributing to the growth of the Metaverse Virtual Assets market in Eastern Asia. The region is witnessing a surge in virtual reality (VR) and augmented reality (AR) technologies, which are enabling more immersive and interactive virtual experiences. This has led to increased demand for virtual assets that can enhance these experiences and provide users with a greater sense of presence and engagement.

Additionally, the rise of blockchain technology has facilitated the secure ownership and trading of virtual assets, further fueling the market growth. Local special circumstances in Eastern Asia are shaping the development of the Metaverse Virtual Assets market. The region is home to several tech giants and innovative startups that are actively exploring and investing in the metaverse space.

These companies are leveraging their expertise in gaming, e-commerce, and social media to create and monetize virtual assets, driving the market forward. Moreover, Eastern Asia has a vibrant gaming culture and a strong tradition of virtual communities, which has laid a solid foundation for the adoption of virtual assets. Underlying macroeconomic factors are also contributing to the growth of the Metaverse Virtual Assets market in Eastern Asia.

The region has a robust digital infrastructure and high internet penetration, providing a conducive environment for virtual asset transactions. Additionally, Eastern Asia has a strong economy and a growing middle class, which has increased disposable incomes and purchasing power. This has led to a greater willingness among consumers to spend on virtual assets and invest in the metaverse.

In conclusion, the Metaverse Virtual Assets market in Eastern Asia is experiencing rapid growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As the region continues to embrace digital technologies and virtual experiences, the demand for virtual assets is expected to further increase, creating new opportunities for businesses and investors in the metaverse space.

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.