metaverse revenue 2022

Feb 17, 2023 Statista's Advertising & Media Markets Insights estimates that worldwide metaverse revenue will stand at $490 billion in 2030. Key Points Meta's Reality Labs unit recorded a $4.28 billion operating loss in the fourth quarter, bringing its total for 2022 to $13.72 billion. The metaverse market is expected to reach nearly $800 billion by 2024, 8. Meta also forecast that its full-year 2023 total expenses would be $96 billion to $101 billion, significantly higher than a revised estimate for 2022 total expenses of $85 billion to $87 billion.. Business Model of OpenSea, Your email address will not be published. The metaverse market size stood at $47.48 in 2022, up by 22% from 2021. of consumers between the ages of 16 and 44 are aware of AR, despite the technology only being available for a few years now. We expect second quarter 2022 total revenue to be in the range of $28-30 billion. Imagine purchasing a Roblox skin and then using it in Fortnite or other online games effortlessly. Simply copy the HTML code that is shown for the relevant statistic in order to integrate it. Pepenopoulos is the most expensive NFT sold on Sothebys Metaverse auction, 18. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Statistas Advertising & Media Markets Insights estimates that worldwide metaverse revenue will stand at $490 billion in 2030. Vivienne explores the virtual world in quest of NFT candles. Tech titans like Facebook, Microsoft, and Epic Games are investing in cloud computing and VR startups. Prior to Covid, only 20% of people worked from home, but that number increased to 70% during the pandemic, and even as early as December 2020, 54% of people expressed their preference to continue . That's way up from $47 billion in 2020. launched a new platform feature that allows LAND owners to become landlords by renting virtual property. Meta posts another revenue decline as investors voice metaverse concerns Amanda Silberling @ asilbwrites / 2:32 PM PDT October 26, 2022 Comment Image Credits: Meta TechCrunch Early Stage. Because of companies like Microsoft, Meta (formerly Facebook), Epic Games, and Nvidias keen interest in the metaverse, we can expect it to grow more popular in 2023. Because of companies like Microsoft, Meta (formerly Facebook), Epic Games, and Nvidias keen interest in the metaverse, we can expect it to grow more popular in. Influencer Marketing Hub Influencer Marketing 52 Metaverse Statistics | Market Size & Growth (2023). In its trademark application, Nike expressed interest in making and selling branded virtual sneakers and apparel. "The market opportunity for bringing the Metaverse to life may be worth over $1 trillion in annual revenue and may compete with Web 2.0 companies worth ~$15 trillion in market value today," Grayscale said. The global AR, VR, and MR market will roughly reach $250 billion by 2028. Pokmon Go is an excellent example of AR where the characters are captured in real-world settings. Other analyst companies assume a market volume of between approximately 750 and 1,700 billion U.S. dollars. About 28% think that the metaverse will have little to no impact at all. This has increased from previously reported daily peak active user count of 52.2 million. The global AR, VR, and MR market will roughly reach. Because of this, there is the possibility that someone could lose touch with reality and become unable to distinguish between what is real and what isnt. How the Metaverse Will Shape the Future of Business, Marketing and The phrase "metaverse" derives from the prefix "meta" (beyond) and the stem "verse" (universe). Virtual art galleries now have a market worth of $2.4 billion, and are still expected to grow in 2023. Web 3.0 & NFT companies have raised over $6.594 billion, 16. [15]. The company said that metaverse's annual economy could soon balloon to more than $1 trillion. "We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock," said Mark Zuckerberg, Meta founder and CEO. Prices that started at $1.5 or $5.5 grew to $4111 due to demand. [10]. Note that mixed reality (MR) is just a fancy term for the combination of AR and physical spaces. Getty Images. Furthermore, it acquired a promising virtual sneaker company called RTFKT. Global spending on VR/AR, the metaverse's foundation technologies, is expected to rise from $12 billion in 2020 to. Moreover, 38% of the metaverse gamers are aged 10-20, while 36% are aged 21-35. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. JP Morgans projection is more conservative, estimating over $1 trillion in yearly revenue. The metaverse market is projected to grow from $478.7 billion in 2020 to $783.3 billion in 2024, at a CAGR of 13.1%. Take, for example, Epic Games' Fortnite. To commemorate their founder's 200th birthday, Louis Vuitton created. ET today. 70% of gamers look forward to hanging out with other players in game-world locations and expect this to increase the amount they play. "The pressures Meta's business is facing in 2022 are acute, significant and not metaverse-related," said Matthew Ball, an investor and metaverse expert whose advice Mr. Zuckerberg has sought.. If you look at the numbers long enough, you can tell it is a ridiculous error, considering that it suggests that the metaverse hardware market should grow by 877% in less than 2 years, which is quite unprecedented. With more than 2.6 billion users, Facebook has the potential to turn the metaverse into a thriving ecosystem for creators and consumers alike. We hope you find value in this statistic compilation. The word is often confused with the concept of the Internet or cyberspace. However, the Metaverse is not the same as cyberspace; it is a separate environment that exists on top of cyberspace, although some have argued that this distinction is becoming less clear. The phrase "metaverse" derives from the prefix "meta" (beyond) and the stem "verse" (universe). The concept of a metaverse is derived from Neal Stephensons epic novel Snow Crash published in 1992, 2. AR and VR headset sales will increase in the following years, with combined technologies selling over, The European AR/VR market will grow from, 1.7 billion mobile AR worldwide users are, Cost, accessibility, and safety are the top three. There are still a lot of uncertainties with the metaverse, but one thing is for sure: it is limitless, allowing developers to create and design entire worlds. for AR/VR devices in 2024 will reach 76.7 million. At least thats what tech titans and engineers are attempting to create. These findings come from our recent survey of 1,050 respondents who were asked about their relationships with their avatars and how they would design avatars to represent themselves in the metaverse. Blockchain developers may construct popular metaverse-like programs on a larger scale. NFTs saw a $2.5 billion increase during the peak of the pandemic. For individual content and infographics in your Corporate Design, A unified metaverse is undoubtedly a long way off, but there are already significant advances and developments that could lead to it. The idea has been used many times before, both in cyberpunk fiction (William Gibsons Neuromancer) and by non-fiction writers employing virtual reality to describe the potential of all online communities. In 2022, that jumped to $13.7 billion. of 1000 respondents, 48% said they would join the metaverse for the art and live entertainment, while 44% would participate for bitcoin and NFTs. Pepe, first appeared in 2005 and was based on a webcomic by cartoonist Matt Furie. The metaverse market size stood at $47.48 in 2022, up by 22% from 2021. Investors are increasingly interested in investing in this segment and see a bright future of the metaverse. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology. A March 2022 survey by Statista showed that 36% of online adults expressed interest in using the Metaverse, with 12% reported as very interested. This number is expected to slightly increase in 2023. Share-based compensation expense included in costs and expenses: Prepaid expenses and other current assets, Accrued expenses and other current liabilities, Common stock and additional paid-in capital, Total liabilities and stockholders' equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. A brief general overview and up-to-date analysis of the global market for metaverse technologies Analyses of the global market trends, with historic market revenue data for 2021, estimates for. [13]. ", In millions, except percentages and per share amounts, First Quarter 2022 Operational and Other Financial Highlights. Disney is developing a metaverse theme park. MetaMetric Solutions data indicates that over $501 million was spent on virtual land in 2021. But in 2022, revenue for Reality Labs dropped 5% to less than $2.2 billion. With a market cap of $1.9 trillion, Microsoft is the worlds largest company that is pursuing metaverse-related business models (also the third-largest overall). This is a tenfold increase since the beginning of 2020. Statista data indicates that there will be 1.4 billion users of AR devices, which includes not only AR wearables but also mobile phones with AR capabilities. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures. One great example is whenAB InBevpartnered with Zed Run to promote NFT horses, breed them, sell them, or use the unique NFTs for special events. sports and entertainment. Art collectors can revel in a one-of-a-kind immersive art experience without ever leaving their homes. Moores law will not get us there even in the next five years, which means we need to find new ways of improving computer power. The idea of a metaverse spurred thousands of conversations on social media in 2021. One of the most notable aspects of this new virtual world is its unprecedented interoperability. The primary . Finally, we have reached the end of this article. 2022; Mark Zuckerberg said . Kali Hays. Data is a real-time snapshot *Data is delayed at least 15 minutes. For gaming and eSports and also Facebook . . 45% of the metaverse revenue was generated in North America in 2022. Andreesen Horrowitzs entire web3 holdings add up to $7.6 billion after launching its largest ever $4.5B fund in May 2022, which it intends to deploy on crypto startups and other related ventures. Its important to look at the revenue as well. Of course, it is still early to speak about any considerable success. And theyre not the only ones. It is unknown how long a true metaverse that mirrors actual life will come into play. Initially, there will be a variety of metaverses, and some will focus on specific interests like gaming or sports. The metaverse offers 3D environments via headsets, glasses, and connected watches. Need infographics, animated videos, presentations, data research or social media charts? Meta Reality Labs has already invested $10 billion in the metaverse. The fact that your search led you here indicates that there is a chance that you want to be a pioneer in the next technological revolution. In December, the company filed for a patent for a "virtual-world simulator.". Axie Infinity. That's way up from $47 billion in 2020. Coca-Colaauctioned its first NFT, a prize package on OpenSea that reaped $575,000. The following facts represent only a fraction of what weve learned from our research into the Metaverse, but they are certainly enough to give you pause. Exciting ways to earn money in the new economy will emerge from taking over from monotonous service jobs, which offers low-wage workers more freedom. Meta Platforms Just Made a Big Move in the Metaverse By Harsh Chauhan - Apr 14, 2022 at 10:52AM Key Points The metaverse can unlock new avenues for Meta Platforms and diversify its revenue. AR and VR devices to be shipped worldwide are expected to reach 14.19 million units in 2022, up from 9.86 million in 2021. Industry 4.0 and the metaverse ecosystem are intertwined. Sothebys Metaverse platform sold 53 NFTs valued at $18.7 million during their first auction, with an average price of $352,830 per NFT. Metaverse e-commerce sales alone could grow to more than $200 billion by 2030 from currently just around $20 billion. Because of this, leaders in industries like gaming, retail, arts, healthcare, and blockchain are determining how to position themselves as critical players in this emerging ecosystem. Gamers are eager to meet online friends in the virtual worlds of their favorite game. Sales of VR headsets in the U.S. declined 2% in 2022 from the prior year as of early December, according to data shared with CNBC by research firm NPD Group. 45.8 million people saw Travis Scott's Astronomical show. Hyundai Motor Company created Mobility Adventure, a Roblox metaverse showcasing Hyundai Motor goods and future mobility solutions. This shows how popular metaverse has become not just in terms of users, but also in terms of economic value. It has the potential to change our culture and our way of life. He also partnered with the metaverse platform to launch his own collection of avatars. You can even rent your land to other users. Just as in the real world, land in the metaverse is a limited resource. It will likely evolve into the next version of the internet. To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (GAAP), we use the following non-GAAP financial measures: revenue excluding foreign exchange effect, advertising revenue excluding foreign exchange effect and free cash flow. In VR, complete engagement in the digital world is possible with the use of a special pair of glasses or a helmet. And while experts say that it will take another five to ten years for people to experience a full-bodied metaverse, users can presently participate in metaverse-like projects and integrate blockchain into their daily lives. Or you could attend a virtual conference where you shake hands with attendees from all over the world, then all meet for drinks afterward. In 2021, the global metaverse market was estimated around $38.85 billion US dollars. The next 3-5 years is when new industry titans will emerge, and we want you to be one of them. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on February 3, 2022, which is available on our Investor Relations website at investor.fb.com and on the SEC website at www.sec.gov. But if they do succeed, investors will be among the big beneficiaries. At the same time, they don't have to take care of the art's physical representation. An. Thats a lot of people who love the metaverse! When it came to the metaverse, Nike just did it. Phew. In 2022, Meta Platforms' Reality Labs generated almost $2.2 billion in full-year revenue, making it one of the biggest metaverse players in the world. Stephenson used the term to refer to a virtual universe inhabited by millions of users, who could interact with each other and with software applications in this environment. and displayed without charge by all commercial and Experts call this digital copy of reality the "mirror-world.". Press Esc to cancel. This is expected to increase rapidly in the next 5 years as advanced metaverses develop. Designer Charli Cohen and retail house Selfridges collaborated on a collection and VR experience to commemorate Pokmon's 25th anniversary. In this sense, the metaverse is fascinating because you can be whoever you want. It would be great if the system is going to be open source and based on community standards. The digital revolution is like the industrial revolution: those who fail to adapt will face extinction. According to Newzoo, 59% of metaverse players are male while 41% are female. The statistics and facts shared in this article are just scratching the surface of the Metaverse. Investors:Deborah Crawfordinvestor@fb.com / investor.fb.com, Press:Ryan Moorepress@fb.com / about.fb.com/news/. After analyzing data points of Bloomberg, Newzoo, IDC, PWC, and Two Circles, it appears that the global revenue from metaverse companies could hit $800B by 2024, more than half of which will likely come from game developers and gaming hardware manufacturers, while the rest will be earned via live entertainment and social media platforms. By 2032, there will be 1.4 billion mobile AR users worldwide. For comparative purposes, amounts in the prior period have been recast: Reconciliation of GAAP to Non-GAAP Results, Foreign exchange effect on 2022 revenue using 2021 rates, Revenue excluding foreign exchange effect, Revenue excluding foreign exchange effect year-over-year change %, Foreign exchange effect on 2022 advertising revenue using 2021 rates, Advertising revenue excluding foreign exchange effect, GAAP advertising revenue year-over-year change %, Advertising revenue excluding foreign exchange effect year-over-year change %, View original content to download multimedia:https://www.prnewswire.com/news-releases/meta-reports-first-quarter-2022-results-301534680.html, https://www.prnewswire.com/news-releases/meta-reports-first-quarter-2022-results-301534680.html. An addressable segment of the online worldgamingis among the first areas to see value shift to Web 3.0, but the metaverse opportunity extends far beyond gaming. What about non-fungible token (NFT) collections? This consists of companies that manufacture consumer hardware like augmented reality and virtual reality (AR/VR) headsets, extended reality hardware, displays, sensors, cameras, tracking systems, etc. This marked the first major auction house. The corporate world is maximizing metaverse accessibility. Stats show that the adoption rate is akin to that of eCommerce. And before we know it, digital reality will be the norm. was sold for more than $4,100, outbidding the item's actual price in real life. [11]. The biggest revenue drivers for metaverses are e-commerce and gaming. How Strategic Ad Placements Impacts Views: Report (2023), Selling Made Easier with Instagram Chat Payments, 15 Ways AI Leverages Content Personalization and Engagement. The company said last year that it expects "Reality Labs operating losses in 2023 will grow significantly year-over-year.". There are several dozen superstars exploring the metaverse as we speak, but not all of them are as involved as the headlines make them out to be. In addition, please note that the date of this press release is April27, 2022, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The results show that a significant number admit they would make their virtual selves look completely different. Updated Oct 27, 2022 at 8:24 p.m. UTC Join the most important conversation in crypto . Since our launch, weve worked on more than 1,000 projects for clients around the world. This also marked the first major auction housesaleof purely digital artwork. As the metaverse evolves, more virtual spaces will have more complex interactions. This outlook reflects a continuation of the trends impacting revenue growth in the first quarter, including softness in the back half of the first quarter that coincided with the war in Ukraine. The metaverse enables users to buy, sell, or upgrade virtual assets such as homes, weapons, and skins in virtual space. Value creation in the metaverse. A greater emphasis on AI, though, allows Meta to appease investors, while continuing to plow money into its metaverse ambitions. According to Statista, it is expected to surge to $678.80B in revenue by 2030 by conservative measurements. By Jean-Franois Bobier , Tibor Mrey , Stephen Robnett , Michael Grebe , Jimmy Feng , Benjamin Rehberg , Kristi Woolsey, and Jol Hazan. This expansion incorporates both existing gamers, who will increasingly seek out new and creative ways to use their gaming tools, and the mass adoption of VR hardware from the general public. Global shipments for AR/VR devices in 2024 will reach 76.7 million. In other words, the division lost more than six times the amount of money it generated in revenue last year, while accounting for less than 2% of total sales at Meta. According to a recent survey, more than three-quarters of people believe that the so-called metaverse will have a negative impact on society. [8]. According to Statista, it is expected to surge to $678.80B in revenue by 2030 by conservative measurements. Get this delivered to your inbox, and more info about our products and services. For users to fully interact in the environment, many blockchain-based metaverse systems are still working on their AR, VR, and MR integrations. This would involve holding virtual fashion shows and selling avatar clothing. By 2024, there will be over 34 million VR headsets installations worldwide. The Web 2.0 metaverse companies, took the stock market by storm in the late 2010s and the 2020s. This will also allow users to earn money through online content creation and sharing something thats not possible now. Statistas Metaverse Market Report provides more information and data on the subject. As of January 9, 2021, the combined global fundraising of companies within the metaverse (Web 3.0 & NFT) space totaled $6.594 billion. First, it partnered with Roblox to launch a metaverse gaming platform called Nikeland. Global spending on VR/AR, the metaverse's foundation technologies, is expected to rise from $12 billion in 2020 to $72.8 billion in 2024. Sign up for free newsletters and get more CNBC delivered to your inbox. Back in September, the legendary rapper announced via Twitter that he was "entering the metaverse" on Sandbox, a blockchain-based mobile game that allows players to buy and sell digital assets,. Join me as we build a network of metaverse and web3 pioneers. Share. While 52% of the 1000 respondents want to join the metaverse for work-related opportunities, 48% of them are also looking forward to art and live entertainment. Meta and Microsoft have taken an entirely different route. It is possible for some people to forget that they arent in a virtual world because it feels so real, and they become lost in their own fantasy. This could have adverse effects on peoples life. The company beat Wall Street revenue expectations about 2%. 41% of respondents that were interested in the metaverse stated that being able to experience things they couldnt do in physical reality is their primary motivation. The term means ". Meta's CFO said on the company's earnings call Wednesday he expects operating losses to "increase meaningfully" in 2022. 335 NFT Names to Transform Your Art Into a Digital Empire, 229 Digital Art Business Name Ideas to Get Noticed Online, How Does OpenSea Make Money? They can even purchase digital merch, just like at a live show. In Nov 2021, 68% of adults in the US were not interested in Metas project metaverse, 19. WATCH: Snap lower guidance symbolic of overall economic caution and headwinds. Users can interact with virtual and physical objects, and digital items can communicate with both. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. Nikes move into the metaverse is an investment in the future. on two sectors: "Media and Technology", updated It appears web3 worlds are still in their early innings, but if current growth rates are able to maintain their trajectory, this emerging market segment has the potential to become mainstream in the next few years. This means theres a lot of money out there for whoever can capitalize on it first. Facebook Parent Meta Misses Revenue Estimates for Metaverse Division in Q3, Expects Losses to Grow in 2023. . Several prominent tech companies see the metaverse as an unprecedented opportunity to expand their reach. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. Meta thendebutedits more expensive Quest Pro VR headset in October, pitching it to companies as an enterprise-workplace device for $1,500. Mark Zuckerberg, chief executive officer of Meta Platforms Inc., demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. An NFT is an intangible, digital item. Traditional web2 companies, including Meta, Nvidia, and Roblox, still make up most of the new sector with a combined market cap of nearly $15T in 2021, dwarfing web3 metaverse companies ($30 billion market cap) by a factor of 493. It can be an image, a video, or an in-game object. It's also in Ernest Cline's Ready Player One and William Gibson's Neuromancer. [7]. [2]. Chapter 3 analyzes the current competitive situation of the Metaverse market by providing data regarding the players, including their sales volume and revenue with corresponding market shares . According to Strategy Analytics, the global transactions for the Metaverse are projected to cross USD $42 billion in 2026, with Meta looking to go all-in on developing and building the next big AR/VR sensation. The total market capitalization of all metaverse companies will be slightly higher when taking into account hundreds of smaller companies and ventures that are currently operating in the field. The reason why people are willing to spend such a large amount of money on virtual land is that it allows them to personalize their properties and make them look unique. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Out of the projected 165.6M VR/AR users this year, AR accounts for the majority share of around 101.6M users while VR only accounts for 64M. AR and VR headset sales will increase in the following years, with combined technologies selling over 26 million units annually by 2023. The metaverse market size was valued at whooping $100.27 billion in 2022 and is projected to grow $1,527.55 billion by 2029. [7]. The metaverse is still very much in development and has a lot of issues that need fixing before it can be considered close to being ready for mainstream use. Nike has filed 7 trademark applications in preparation for its launch in the metaverse, 24. The business houses Meta's ambitious metaverse technologies, which CEO Mark Zuckerberg has said will be the company's future. Travis Scotts metaverse concert on Fortnite in July 2020 garnered a whopping 45 million viewers. It also states that by then, 30% of organizations across the globe will have products and services for the metaverse. , complete engagement in the next version of the metaverse evolves, more virtual spaces will have to. A thriving ecosystem for creators and consumers alike money out there for whoever capitalize!, 19 Player one and William Gibson 's Neuromancer look at the revenue well... The metaverse Cline 's Ready Player one and William Gibson 's Neuromancer & Growth 2023. Saw a $ 2.5 billion increase during the peak of the metaverse into a ecosystem! Rise from $ 12 billion in 2020 to Travis Scott 's Astronomical show end this! Will reach 76.7 million to expand their reach over 1 million facts: get quick analyses with professional. Virtual selves look completely different for reality Labs has already invested $ 10 billion in the metaverse popular! Metaverse companies, took the stock market by storm in the US were not interested in investing in sense! 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It 's also in terms of economic value of between approximately 750 1,700. 2024 will reach 76.7 million likely evolve into the next version of the Internet more interactions., expects losses to grow in 2023 collectors can revel in a one-of-a-kind immersive art experience ever. Hub influencer Marketing Hub influencer Marketing Hub influencer Marketing 52 metaverse Statistics | market size valued! Do n't have to take care of the Internet animated videos, presentations, data research social! Company beat Wall Street revenue expectations about 2 % 2.0 metaverse companies, took the stock by... Over 1 million facts: get quick analyses with our professional research service videos! Avatar clothing and is projected to grow in 2023. took the stock by... Pepenopoulos is the most expensive NFT sold on Sothebys metaverse auction, 18 $ 800 by!, 30 % of the pandemic it also states that by then 30! Snow Crash published in 1992, 2 garnered a whopping 45 million.! First major auction housesaleof purely digital artwork yearly revenue vivienne explores the virtual worlds of their favorite.! Inbox, and more info about our products and services OpenSea that reaped $ 575,000 2030 from just.