Metaverse Virtual Assets - Portugal

The Metaverse Virtual Assets market is anticipated to witness a significant surge in value, projected to reach a staggering US$10.2m in 2024.
This growth is expected to continue with an annual growth rate of 18.94% from 2024 to 2030, resulting in a projected market volume of US$28.8m by the end of the latter year.
It is worth noting that United States dominates this market, generating the majority of its value with a projected market volume of US$1.1bn in 2024.
Looking at the user base, the number of users in the Metaverse Virtual Assets market is expected to reach 128.2k users by 2030.
This indicates a steady increase in user penetration, which is projected to rise from 1.2% in 2024 to 1.3% by 2030.
Furthermore, the average value per user (ARPU) is estimated to amount to US$83.7.
It is important to note that these projections and figures specifically pertain to the Metaverse Virtual Assets market, and do not reflect the overall market conditions in Portugal.
Portugal is experiencing a surge in demand for virtual real estate in the Metaverse, driven by the country's thriving tech and gaming industries.

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

Portugal, like many other countries, is experiencing a growing interest in the Metaverse Virtual Assets market. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of this market in Portugal.

Customer preferences play a crucial role in shaping the Metaverse Virtual Assets market in Portugal. With the increasing popularity of virtual reality and online gaming, consumers are seeking immersive experiences and unique digital assets. The desire to own and trade virtual assets, such as virtual real estate, avatars, and in-game items, has created a demand for the Metaverse Virtual Assets market in Portugal.

In line with global trends, the Metaverse Virtual Assets market in Portugal is witnessing several key developments. Firstly, there is a growing number of platforms and marketplaces dedicated to buying, selling, and trading virtual assets. These platforms provide users with a seamless and secure way to engage in virtual asset transactions.

Secondly, the market is seeing a wide range of virtual assets being traded, including digital art, virtual fashion, and even virtual currencies. This diversity of assets caters to different consumer preferences and interests. Local special circumstances also contribute to the development of the Metaverse Virtual Assets market in Portugal.

The country has a vibrant gaming community and a strong tech-savvy population. This provides a fertile ground for the adoption and growth of virtual assets. Additionally, Portugal's geographical location and strong ties to Europe make it an attractive market for international players in the Metaverse Virtual Assets industry.

This opens up opportunities for partnerships and collaborations, further fueling the market's growth. Underlying macroeconomic factors also play a role in the development of the Metaverse Virtual Assets market in Portugal. The country has a stable economy and a growing digital infrastructure, which supports the adoption of virtual assets.

Furthermore, the COVID-19 pandemic has accelerated the shift towards online activities and virtual experiences. As more people spend time at home, the demand for virtual assets and immersive digital experiences has increased. In conclusion, the Metaverse Virtual Assets market in Portugal is developing due to customer preferences, global trends, local special circumstances, and underlying macroeconomic factors.

The desire for immersive experiences, the availability of platforms and marketplaces, and the country's gaming community contribute to the market's growth. Additionally, Portugal's stable economy and the impact of the COVID-19 pandemic further drive the adoption of virtual assets. As the market continues to evolve, it presents opportunities for both local and international players in the Metaverse Virtual Assets industry.

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.