The Metaverse market size is expected to exceed $1.5 trillion by 2030. The market here includes products covering augmented reality, virtual reality, mixed reality, augmented reality and artificial intelligence all under one roof.
The Metaverse is increasingly turning into the worlds depicted in movies. As the first of its kind, the interactive Marshmallo concert held in Fortnite in February 2019 had an extraordinary success with the participation of approximately 11 million people. A year later, on April 24, 2020, the Travis Scott concert, which was also held in Fortnite, had a greater success with the participation of over 27 million users, 12 million of which were on the platform. Moreover, just like in real concerts, many commercial items were sold at these events. These included avatar skins and dance moves NFTs. Adding NFT and physical product sales, Travis Scott made a total of $ 20 million from this concert. The revenue from this single concert is 37 percent of the $53.5 million revenue Travis Scott made during his physical Astroworld concert tour in 2019.
One of the biggest reasons for the success of these concerts held in Fortnite is that players interact with the concert one-on-one using Fortnite game features, purchased skins and dance moves, and contribute visually to the concert, which includes great visual effects and even changes dimensions, becoming a part of the concert, even the video clip. was.
With the help of high-volume NFT projects such as Bored Ape Yacht Club, Doodles and Crypto Punks, the NFT market reached a sales volume of approximately $17 billion last year and a growth rate of 20,000 percent. Investors and collectors, who take advantage of the sluggish markets nowadays, are exploring new areas to invest. The fact that NFTs find new uses and benefits with Metaverse technology also attracts the attention of these investors.
According to the latest report published by Non-Fungible.com, globally Metaverse NFTs only make up 3 percent of the total NFT market, which corresponds to a volume of 513 million dollars. Other NFT types mentioned in the report are: Utility, Art, Gaming and Collections. While Utility is roughly the same volume as the Metaverse sub-branch, Art has sales volumes of $2 billion, Gaming about $3.9 billion, and collectible NFTs about $6.2 billion.
On the other hand, in the research conducted on the Nansen NFT 500 list, NFT types and subcategories were formatted in more detail. In terms of ROI, metaverse NFTs assumed the leading position in the market in the first quarter of 2022. In addition, NFTs with social use lead the list, followed by Metaverse and Gaming NFTs. Artistic NFTs, on the other hand, were the least popular category in March-April. When the sub-categories of the leading Social NFTs are compared, the profile picture category is the leading sub-segment. On the other hand, when we compare Metaverse NFTs according to the same report, it is seen that the biggest interest is on Land and Real Estate. This is followed by Avatar, Asset and Utility tokens.