March 23, 2023
The growth in technology we have seen in the modern world is fascinating. Blockchain, Metaverse, and ChatGPT have changed the way we view technology and its use in daily life. Thanks to the advancement of technology, you can do a lot of things that were impossible a couple of years ago.
Welcome to our metaverse statistics blog, where we will dive deep into the data and statistics behind the rapidly growing world of virtual reality. From its release date to several users to market trends, we aim to provide a comprehensive look at the state of the metaverse.
Before getting to stats, let me introduce what metaverse is.
The metaverse refers to a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual reality. Furthermore, it’s a virtual space where users can interact with each other, play games, and buy property in real-time. Meta has spent billions of dollars to bring the virtual space to life and we have seen the progress right in front of us.
Now, let’s take a quick look at where the concept of metaverse came from and some historical metaverse stats.
The term virtual reality was used by the popular french poet Antonin Artaud in his essay “The Theater and its Double”. He envisioned how the characters, images, and objects can interact with each other.
The term “metaverse” was first coined by Neal Stephenson in his 1992 science fiction novel “Snow Cash”. In the novel, the metaverse is mentioned as a virtual reality based on the successor of the internet, where users can interact with each other and with virtual objects and environments in real-life. The journey of the metaverse started from there.
The market size of the metaverse is increasing rapidly. The global metaverse market cap was $38.85 billion in 2021 and rose to $47.48 billion in 2022. The valuation is expected to reach $678 billion by 2030.
The future belongs to those who believe in the beauty of their dreams.
The latest report suggests that about 400 million people are using metaverse actively. Roblox has the biggest user base with 202 million followed closely by Minecraft with 174 million. Fortnite comes in third position with 83 million users.
The prediction for the use of metaverse has come and it looks like people are looking forward to using the service. About 25% of the world’s population will use the metaverse at least an hour per day by 2026. People will use the metaverse for completing school work, socializing with people, and entertainment.
The metaverse is quite popular among adults. About 74% of adults in the US are attracted by metaverse. The reason many adults use to want to use the metaverse is to experience things that are impossible in real life.
There are still some concerns about metaverse among American adults. According to Statista, 27% of adults in the US are uninterested in the metaverse, 19% are concerned, 12% are confused, and 33% are curious. The concerning thing is 23% of people are suspicious of the metaverse.
Many people believe the metaverse is dangerous. There are concerns among people and society about the excessive use of the metaverse in the future. 41% of people believe mental health issues and privacy issues are the two main concerns of people about the metaverse. About 47% of people are worried about being addicted to virtual reality.
Do you think the metaverse will replace social media? If yes then you aren’t the only one. About 24% of adults in the US believe metaverse will replace social media and 42% believe it partially replaces social media.
The number of VR users in the world has rapidly increased in the last five years. In the Us alone, there are 57.4 million VR users, and 90.9 million AR users and the number is expected to reach an astonishing height in the five to ten years.
The gaming industry has blossomed exceptionally in the last couple of years. According to Statista, six out of ten people are planning to use metaverse for gaming. About 28% of people are planning to use metaverse for creating content.
Roblox is the leading company in metaverse gaming. At the end of the third quarter of 2022, Roblox had 58.8 million daily active users. The company added 6.2 million daily active users in three months.
Mark Zuckerberg announced that they were changing their name to meta back in October back in 2021. The reason behind the change in name was to introduce and put emphasis on the metaverse. The word meta is derived from a Greek word that means “beyond”.
The rebranding to meta was a lucky charm for Facebook. The revenue for Meta reached $117 billion in 2021 which was $31 billion more than that of 2020. The majority of Meta revenue’s came from advertisements.
Meta is planning to invest a lot of money in their company. The company is expected to increase its investment to $93 billion in 2023 and $19.2 billion on only metaverse. The company is interested in revolutionizing the virtual reality industry.
Almost every industry in the world will use the metaverse shortly. Currently, 17% of companies are in the IT industry, 12% in education, 11% are in finance, 10% in marketing and advertisement, and 9% in health have already invested in the metaverse.
The popularity of real estate in the metaverse is the same as the real one. In 2021 alone, real estate sales in multiple metaverse platforms reached $501 million and the number is expected to reach billion by the end of 2022. In January 2022, real estate sales reached $85 million.
The largest acquisition of metaverse real estate occurred when Curzio Research paid $5 million for 19 commercial sites in TCG World. The agreement was done on May 22, 2022. The average price of the top 10 metaverse transactions is $2.06 million, which is enough to purchase a modest real-world residence in areas like Hollywood Hills, Beverly Hills, or Malibu.
Fortnite is one of the most popular games that is played by over 400 million users. Marshmallow attracted 10.7 million people in his virtual concert in Fortnite, making it the largest in-game in the world. The second place in terms of attendance was the destruction of a strange purple cube watched by 8.3 million people.
In 2021, a digital version of the Gucci bag was sold for 350,000 Robux which is equivalent to $4,115 on Roblox which was $715 million more than the actual cost of the real bag. The sale was the first sign that the fashion chain is going to the metaverse and the market is expanding.
People are spending millions of dollars in the metaverse to buy virtual products. People spend $54 billion annually on metaverse purchases, which is equal to the worldwide expenditure on subscription video-on-demand in 2019.
We hope our metaverse statistics article helped you understand how far metaverse has come and where it’s heading. Meta has invested billions of dollars in the metaverse to produce and promote virtual reality.
Imagine experiencing the entire world by sitting on your couch. Well, the day is coming soon, and we hope you will be ready.