Metaverse Virtual Assets - Northern Africa

The Metaverse Virtual Assets market is projected to reach a value of US$24.3m in 2024.
This market is expected to experience an annual growth rate of 21.64% from 2024 to 2030, resulting in a projected market volume of US$78.6m by 2030.
The country which generates the most value in this market is United States, with a projected market volume of US$1.1bn in 2024.
In terms of user numbers, the Metaverse Virtual Assets market is expected to have 2.7m users users by 2030.
The user penetration rate is projected to be 1.1% in 2024 and is expected to increase to 1.2% by 2030.
The average value per user (ARPU) is expected to be US$11.1.
It is worth noting that these projections and values are specific to the Metaverse Virtual Assets market and may vary in different regions and countries, including in Northern Africa.
The demand for Metaverse virtual assets in Northern Africa is surging, driven by a growing tech-savvy population and increasing interest in digital economies.

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 Northern Africa is experiencing significant growth and development.

Customer preferences: Customers in Northern Africa are increasingly interested in virtual assets in the Metaverse. They are attracted to the immersive and interactive nature of the Metaverse, which allows them to explore virtual worlds, interact with other users, and engage in various activities. The ability to own and trade virtual assets within the Metaverse is particularly appealing to customers, as it provides them with a sense of ownership and the opportunity to participate in a growing digital economy.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in Northern Africa is the rising demand for virtual real estate. Customers are eager to acquire virtual land and properties within the Metaverse, which they can develop and monetize. This trend is driven by the desire to establish a presence in the virtual world and capitalize on potential business opportunities. Additionally, customers are also showing interest in virtual fashion and accessories, as they seek to personalize their avatars and express their individuality in the Metaverse.

Local special circumstances: The development of the Metaverse Virtual Assets market in Northern Africa is influenced by several local special circumstances. One such circumstance is the growing tech-savvy population in the region. Northern Africa has experienced a significant increase in internet penetration and smartphone adoption, which has created a large user base for virtual assets in the Metaverse. Additionally, the region has a vibrant gaming and entertainment industry, which has paved the way for the acceptance and adoption of virtual assets among the local population.

Underlying macroeconomic factors: The growth of the Metaverse Virtual Assets market in Northern Africa is also supported by underlying macroeconomic factors. The region has witnessed a steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has provided customers with the financial means to invest in virtual assets and participate in the Metaverse economy. Furthermore, the digital transformation of various industries in Northern Africa has created new opportunities for virtual assets, as businesses look to leverage the potential of the Metaverse for marketing, advertising, and customer engagement. In conclusion, the Metaverse Virtual Assets market in Northern Africa is experiencing significant growth and development. Customer preferences for immersive and interactive experiences, coupled with the rising demand for virtual real estate and fashion, are driving the market. Local special circumstances, such as a tech-savvy population and a vibrant gaming industry, are further fueling the growth. Additionally, underlying macroeconomic factors, such as economic growth and digital transformation, are contributing to the expansion of the market. Overall, the Metaverse Virtual Assets market in Northern Africa presents exciting opportunities for businesses and investors alike.

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.