Metaverse Virtual Assets - Nordics

The Metaverse Virtual Assets market is expected to reach a value of US$63.1m in 2024.
This projected value is anticipated to experience an annual growth rate of 18.23% from 2024 to 2030, resulting in a market volume of US$172.4m by 2030.
In terms of market volume, United States is the leading country, generating an estimated value of US$1.1bn in 2024.
Looking at the number of users in the Metaverse Virtual Assets market, it is projected to reach 499.2k users by 2030.
The user penetration rate is expected to be 1.7% in 2024 and is projected to increase to 1.7% by 2030.
Furthermore, the average value per user (ARPU) is projected to be US$131.3.
It is worth noting that these projections and figures pertain to the Metaverse Virtual Assets market and are specific to the Nordics.
The Nordic countries have seen a surge in demand for Metaverse virtual assets, with Finland leading the way in terms of user adoption and investment.

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 Nordics is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Nordics are playing a crucial role in driving the growth of the Metaverse Virtual Assets market.

The region has a tech-savvy population that is highly receptive to innovative and immersive digital experiences. The Nordics are known for their high internet penetration rates and strong digital infrastructure, which makes it easier for individuals to access and participate in the Metaverse. Furthermore, the Nordics have a strong gaming culture, with a large number of gamers and esports enthusiasts.

This has created a fertile ground for the adoption of virtual assets within the Metaverse, as gamers are already familiar with the concept of in-game purchases and virtual economies. Trends in the market are also contributing to the growth of the Metaverse Virtual Assets market in the Nordics. The rise of blockchain technology has provided a secure and transparent platform for trading and owning virtual assets.

This has increased trust and confidence among consumers, leading to a higher demand for virtual assets. Additionally, the growing popularity of decentralized finance (DeFi) has opened up new opportunities for individuals to earn income through virtual assets. This has further incentivized the adoption and trading of virtual assets within the Metaverse.

Local special circumstances in the Nordics are also shaping the development of the Metaverse Virtual Assets market. The region has a strong focus on sustainability and environmental consciousness. This has led to the emergence of virtual assets that have a positive impact on the environment, such as virtual real estate that promotes eco-friendly practices.

The Nordics also have a strong emphasis on digital privacy and data protection, which has created a demand for virtual assets that prioritize user privacy and security. Underlying macroeconomic factors are driving the growth of the Metaverse Virtual Assets market in the Nordics. The region has a stable and prosperous economy, which provides individuals with the disposable income to invest in virtual assets.

Additionally, the Nordics have a well-developed financial system and a high level of financial literacy, which makes it easier for individuals to understand and participate in the Metaverse Virtual Assets market. In conclusion, the Metaverse Virtual Assets market in the Nordics is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The tech-savvy population, strong gaming culture, and high internet penetration rates in the region are driving the adoption of virtual assets within the Metaverse.

The rise of blockchain technology and decentralized finance has further fueled the demand for virtual assets. Local special circumstances such as a focus on sustainability and digital privacy have also shaped the development of the market. The stable economy and well-developed financial system in the Nordics provide individuals with the means and knowledge to participate in the Metaverse Virtual Assets 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.