What’s Driving Metaverse Yield?

A new report from Statista broke down the virtual economy of the metaverse, showing the different sectors of its marketplace that are driving metaverse yield. Statista notes that the metaverse economy is generating $45 billion in 2022 and forecasts its revenue to be worth $490 billion by 2030 – a 1,000% increase. 

eCommerce

eCommerce is a significant part of the metaverse economy, providing access to digital assets for users to purchase and utilize in the metaverse. Three main categories of eCommerce in the virtual world include the following.

1. Virtual marketplaces: users can buy and sell digital goods such as avatars, NFTs, cars, in-game products, and real estate. Several metaverse platforms like Decentraland and Somnium Space service these marketplaces.

2. Digital storefronts: virtual stores can be owned by individual users or name brands. These retailers can service transactions for digital goods and services and potentially sell physical goods through the metaverse.

3. Crypto payments: One asset the metaverse has is the security of decentralized payment systems. Buying and selling physical goods that have been tokenized is another opportunity for users to build a portfolio and invest in assets.

Gaming purchases

Gamers can enhance their gaming experience in the metaverse by purchasing avatars, skins, tools, vehicles, and other in-game assets. The goal for creators and gamers should be to enhance the gaming experience through in-game purchases which support developers.

Gamers can customize their experience by collecting an inventory of skins, clothing, and other customizable items. In-game purchases can also grant exclusive access to multiplayer games where they can compete and socialize with other gamers. 

Health and fitness

Physical exercise is another large part of the metaverse economy, according to Statista. Immersive virtual workouts with other participants are possible in the metaverse. Users can engage in full-body workouts right in their homes while being led by a fitness instructor. 

Promoting health and wellness is one of the best ways the metaverse can show its value to new users because it provides physical benefits through virtual reality. Virtual fitness groups, health and fitness tracking apps, and goal-setting are all possible in the metaverse and foster social connections and community support.

Conclusion

There are currently no accurate breakdowns for the amount of revenue each sector of the metaverse generates. This is largely due to the early developing nature of the VR world. Nonetheless, the metaverse as a singular entity is a force to be reckoned with. 

While it has not caught on with western markets, the metaverse is seeing massive growth in Asia. Last year, Deloitte published a report forecasting the metaverse could contribute as much as $1.4 trillion to Asia’s GDP by 2035.

While the metaverse is certainly facing challenges communicating the value of its various use cases, its economy is robust. With its thriving user base in Asia and subsectors of western markets, the metaverse will no doubt find its niche over the next ten to fifteen years. But its economy will always be the central force of its value wherever it is adopted.