Metaverse Virtual Assets - Russia

The Metaverse Virtual Assets market is anticipated to reach a value of US$46.4m in 2024.
This market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 19.24% between 2024 and 2030, resulting in a projected market volume of US$133.2m by 2030.
It is worth noting that the majority of this value is generated United States, with a projected market volume of US$1.1bn in 2024.
Furthermore, the number of users in the Metaverse Virtual Assets market is forecasted to reach 1.6m users by 2030.
The user penetration rate, which stands at 1.0% in 2024, is projected to rise to 1.2% by 2030.
Lastly, the average Value per user (ARPU) is expected to be US$31.2.
This indicates the amount of value generated by each user in the market segment.
It is important to emphasize that these projections and figures specifically refer to the market segment of Metaverse Virtual Assets market.
Additionally, it should be noted that these insights pertain to the country of Russia.
Russia's Metaverse Virtual Assets market is experiencing a surge in demand driven by the country's tech-savvy population and growing interest in digital collectibles.

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 Russia has been experiencing significant growth and development in recent years.

Customer preferences: Russian consumers have shown a growing interest in Metaverse Virtual Assets, driven by several factors. Firstly, the increasing popularity of online gaming and virtual reality experiences has created a demand for virtual assets that enhance the gaming experience. Players are willing to invest in virtual assets such as avatars, weapons, and accessories to personalize their gaming characters and stand out from others. Additionally, the younger generation in Russia has embraced digital platforms and virtual communities, where virtual assets play a crucial role in social interactions and self-expression.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in Russia is the emergence of virtual asset marketplaces. These platforms provide a space for users to buy, sell, and trade virtual assets, creating a vibrant economy within the virtual world. The marketplace model has gained popularity due to its convenience and accessibility, allowing users to easily browse and purchase virtual assets from a wide range of sellers. Moreover, the rise of blockchain technology has enabled the use of non-fungible tokens (NFTs) for virtual assets, providing a secure and transparent way to verify ownership and authenticity. This has further fueled the growth of the market as users are more confident in investing in virtual assets.

Local special circumstances: Russia has a strong gaming culture, with a large number of gamers and a thriving esports scene. This has contributed to the demand for virtual assets as players seek to enhance their gaming experiences and compete at a higher level. Additionally, the Russian government has been supportive of the development of the digital economy, including the Metaverse Virtual Assets market. This has created a favorable environment for startups and entrepreneurs to innovate and create new virtual assets and platforms.

Underlying macroeconomic factors: The growing Metaverse Virtual Assets market in Russia can be attributed to several macroeconomic factors. Firstly, the increasing internet penetration and smartphone adoption in the country have made virtual experiences more accessible to a wider audience. This has expanded the potential customer base for virtual assets and platforms. Secondly, the rise of remote work and online entertainment during the COVID-19 pandemic has accelerated the adoption of virtual technologies and digital experiences. As people spend more time at home, they are seeking alternative forms of entertainment and social interaction, leading to increased demand for virtual assets. In conclusion, the Metaverse Virtual Assets market in Russia is experiencing significant growth and development, driven by customer preferences for personalized gaming experiences and virtual self-expression. The emergence of virtual asset marketplaces and the use of blockchain technology have further fueled this growth. The strong gaming culture and government support for the digital economy in Russia provide a favorable environment for the market to thrive. The underlying macroeconomic factors of increasing internet penetration, smartphone adoption, and the COVID-19 pandemic have also contributed to 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.