Metaverse Virtual Assets - Thailand

The Metaverse Virtual Assets market is anticipated to witness a significant increase in value, reaching a projected amount of US$13.3m in 2024.
This market is expected to experience a steady annual growth rate (CAGR 2024-2030) of 20.66%, resulting in a projected market volume of US$41.0m by 2030.
It is worth noting that United States stands as the top generator of value in this market, with a projected market volume of US$1.1bn in 2024.
In terms of user base, the number of users in the Metaverse Virtual Assets market is expected to reach 573.6k users by 2030.
This indicates a user penetration rate of 0.7% in 2024, which is projected to rise to 0.8% by 2030.
Furthermore, the average value per user, also known as ARPU, is expected to amount to US$25.9.
These figures highlight the potential growth and significance of the Metaverse Virtual Assets market, both globally and specifically in Thailand.
Thailand's growing interest in Metaverse virtual assets is fueled by its tech-savvy population and progressive regulatory environment.

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 Thailand is experiencing significant growth and development.

Customer preferences: Thai consumers are increasingly interested in virtual assets and the Metaverse. They are drawn to the idea of owning virtual land, virtual goods, and digital currencies within the Metaverse. The ability to customize and personalize their virtual identities and experiences is also appealing to Thai consumers. Additionally, Thai consumers are becoming more tech-savvy and are embracing new technologies and digital platforms.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in Thailand is the rise of virtual real estate. Thai consumers are investing in virtual land within the Metaverse, seeing it as a valuable asset that can appreciate in value over time. This trend is driven by the scarcity of virtual land, as well as the potential for earning income through virtual businesses and activities. Virtual real estate marketplaces have emerged to cater to this demand, allowing Thai consumers to buy, sell, and trade virtual land. Another trend in the market is the growing popularity of virtual goods and digital currencies. Thai consumers are purchasing virtual goods such as clothing, accessories, and furniture to enhance their virtual identities and experiences. Digital currencies, such as non-fungible tokens (NFTs), are also gaining traction in Thailand. Thai consumers are buying and trading NFTs, which represent ownership of unique digital assets, including artwork, collectibles, and virtual real estate.

Local special circumstances: Thailand has a vibrant gaming and esports culture, which has laid the foundation for the growth of the Metaverse Virtual Assets market. Thai consumers are accustomed to spending money on virtual goods and in-game purchases, making them more receptive to the concept of virtual assets within the Metaverse. Additionally, Thailand has a large and active online community, which provides a supportive environment for the development of the Metaverse Virtual Assets market.

Underlying macroeconomic factors: Thailand's growing digital economy and tech-savvy population are driving the development of the Metaverse Virtual Assets market. The Thai government has recognized the potential of the digital economy and has implemented policies to support its growth. This includes initiatives to promote digital innovation, attract foreign investment, and develop digital infrastructure. These factors create a conducive environment for the Metaverse Virtual Assets market to thrive in Thailand. In conclusion, the Metaverse Virtual Assets market in Thailand is experiencing significant growth and development. Thai consumers are increasingly interested in virtual assets and the Metaverse, driven by their preferences for customization, personalization, and digital experiences. The market is witnessing trends such as the rise of virtual real estate and the popularity of virtual goods and digital currencies. Thailand's gaming and esports culture, as well as its growing digital economy, provide a favorable environment for the development of 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.