Metaverse monetization is best viewed as an experience rather than a technology since it is less of a product and more of a framework for human interaction. Hence, individuals and firms have access to more business models that allow them to create, market, and sell new products, goods, and services.
- 1.Every year, $54 billion is spent on virtual goods, which is nearly double the amount spent on music purchases.
- 2.The gaming market valued at $175 billion has a CAGR of 10%. Web3 gaming space (GameFi) is growing twice as fast at 20% CAGR.
- 3.The horse and camel racing/breeding market is valued at $180 billion with a CAGR of 9% and is coming online.