10 Shocking Statistics About The Metaverse

The metaverse is arguably the buzziest term of 2022, but there’s still widespread confusion regarding what exactly it is. When polled, only 49.5% of marketing and brand analytics executives expressed that they “somewhat” understood the metaverse. Almost a third share that they’re unsure of it or simply don’t understand it at all.

The next iteration of the internet, frequently referred to as the metaverse, deserves marketers’ attention. Not only will the future of the experiential marketing industry be tremendously impacted by the metaverse, but more and more brands are looking for ways to be at the forefront of the metaverse experiment. Therefore, a robust understanding of the metaverse is necessary. Here are some shocking statistics that will help you learn more.

What Is The Metaverse?

First, here’s a quick refresher on the metaverse itself. The term was initially coined by author Neal Stephenson in 1992. His science fiction book, “Snow Crash,” describes lifelike avatars that can meet in realistic 3D buildings. The book also details other virtual reality elements and environments.

The metaverse will be unlike any of the past iterations of the internet because it will incorporate a slew of technological advances, such as virtual reality, augmented reality, 3D holographic avatars, and even video. The metaverse that companies such as Meta are currently constructing will eventually offer users a hyper-real alternative world to explore and escape into.

10 Shocking Statistics On The Metaverse

Because the metaverse is currently in a growth phase, its full potential is not thoroughly comprehended. However, here are ten statistics that will help clue you in about what’s expected from the metaverse.

In 2020, the metaverse was valued at $47.69 billion.
It is predicted that the metaverse market size will reach $800 billion just two years from now.
Those interested in the metaverse might eventually find themselves working in the space. It’s predicted that this new internet iteration will result in 10,000 new jobs.
As of December 2021, 74% of US adults stated that they are considering joining or definitely joining the metaverse.
Out of the 74% of US adults considering joining or definitely joining the metaverse, their main reasons are to experience things they’re not physically able to in the real world (41%) and wish to communicate with others in the space (40%).
There is a lot of positive buzz around the metaverse. Of the polled US adults joining/considering joining the metaverse, 38% are optimistic that the new platform will positively bring people together.
Meta isn’t the only player in the space. In fact, Epic Games even raised $1 billion for their metaverse plans. Roblox and Microsoft are also interested in the metaverse space.
However, Meta has invested even more than that—$10 billion.
NFTs, which are closely intertwined in the metaverse, could grow to become a $56 billion market in less than ten years from now.
49% of marketers say that their companies already have a metaverse strategy in place.

Marketers, start thinking about your strategy for conquering consumer attention in the metaverse! It’s never too early to begin considering how the metaverse can work for your brand.

SOURCES:

Use NFTs in the metaverse … | YouGov

Most Brand and Marketing Executives… | YouGov

Is the Metaverse the Future of Events? | BizBash

Everyone wants to own the metaverse including Facebook | USA Today

Metaverse Statistics 2022: Key Facts & Market Size Data | EarthWeb

What Is An NFT? Non-Fungible Tokens Explained | Forbes

Excessive activations in metaverse may lead to brand fatigue | YouGov
The metaverse is just getting started: Here’s what you need to know | CNET

US Adults Reasons for Joining the Metaverse | Statista

Metaverse Statistics 2022: Facts, Market Size, Trends & Users | The Small Business Blog