Metaverse Virtual Assets - Mexico

The projected value of the Metaverse Virtual Assets market in 2024 is estimated to reach US$43.9m.
This market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 21.63%, resulting in a projected market volume of US$142.1m by 2030.
It should be noted that the majority of this value is generated United States, which is projected to have a market volume of US$1.1bn in 2024.
Looking at the number of users in the Metaverse Virtual Assets market, it is anticipated to reach 1.4m users by 2030.
The user penetration, which currently stands at 0.9% in 2024, is expected to increase significantly to 1.0% by 2030.
This indicates a growing interest and adoption of virtual assets among users.
Furthermore, the average value per user (ARPU) is projected to be US$38.4.
This metric provides insights into the amount of value generated by each individual user in the market.
It is worth mentioning that these projections and figures specifically pertain to the Metaverse Virtual Assets market, and within this context, the data highlights the market trends and potential in Mexico.
The demand for Metaverse Virtual Assets in Mexico is rapidly increasing, as more individuals embrace the concept of virtual ownership and immersive digital experiences.

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 Mexico is experiencing significant growth and development.

Customer preferences: Mexican consumers are increasingly interested in virtual assets within the metaverse. The younger generation, in particular, is drawn to the immersive experiences and social interactions offered by virtual worlds. They enjoy the ability to customize their avatars and explore virtual environments. Additionally, there is a growing demand for virtual assets that can be used in online gaming, virtual fashion, and virtual real estate.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in Mexico is the rise of NFTs (non-fungible tokens). NFTs have gained popularity as a way to buy, sell, and trade virtual assets, such as digital art, collectibles, and virtual real estate. Mexican consumers are actively participating in the NFT market, both as buyers and sellers. This trend is fueled by the desire for unique and rare virtual assets that can be owned and displayed within the metaverse. Another trend in the market is the emergence of virtual fashion. Mexican consumers are increasingly interested in dressing up their avatars with virtual clothing and accessories. Virtual fashion brands are capitalizing on this trend by offering a wide range of virtual clothing options, allowing users to express their personal style within the metaverse. This trend is driven by the desire for self-expression and the ability to stand out in virtual social settings.

Local special circumstances: The Metaverse Virtual Assets market in Mexico is influenced by the country's vibrant gaming and entertainment industry. Mexico has a large and active gaming community, which provides a strong foundation for the adoption of virtual assets within the metaverse. Additionally, Mexico has a rich cultural heritage, and this is reflected in the demand for virtual assets that celebrate Mexican traditions and aesthetics. Virtual assets that incorporate elements of Mexican culture, such as traditional clothing, folklore, and landmarks, are particularly popular among Mexican consumers.

Underlying macroeconomic factors: The development of the Metaverse Virtual Assets market in Mexico is supported by several macroeconomic factors. Firstly, Mexico has a young and tech-savvy population, which is driving the demand for virtual assets and immersive experiences. Secondly, the increasing internet penetration and access to smartphones in Mexico are enabling more people to participate in the metaverse. Finally, the COVID-19 pandemic has accelerated the adoption of virtual experiences as people seek alternative forms of entertainment and social interaction. This has created a favorable environment for the growth of the Metaverse Virtual Assets market in Mexico. In conclusion, the Metaverse Virtual Assets market in Mexico is experiencing significant growth and development. Mexican consumers are increasingly interested in virtual assets within the metaverse, driven by their preferences for immersive experiences, customization, and social interactions. The rise of NFTs and virtual fashion are key trends in the market. The market is also influenced by Mexico's vibrant gaming industry and cultural heritage. Underlying macroeconomic factors, such as the young population, increasing internet penetration, and the impact of the COVID-19 pandemic, are supporting the growth of the market.

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.