Metaverse Social Market
Last updated
Last updated
The global metaverse market size was valued at USD 63.83 billion in 2021. The market is projected to grow from USD 100.27 billion in 2022 to USD 1,527.55 billion by 2029, exhibiting a CAGR of 47.6% during the forecast period based on market analysis and data from Fortune Global Insights.
Through it's unique Metaverse social ecosystem, Chain World is positioned to capture a good piece of the pie.
When Facebook changed its name to Meta (FB.O), social networking in the Metaverse gained a new outlet. Baidu's "Xiyang," Tianxiaxiu's "Hong Universe Hongverse," and ByteDance's "Party Island" were created. The Metaverse social track is overflowing with participants. According to a Sensor Tower report, an average of one "metaverse" app has been added every day since the concept of "metaverse" emerged.
In 2020, there will be 2.7 billion video game players worldwide. According to a 5.6 percent year-on-year growth forecast, this number will rise to 3.07 billion in 2023; the global social game market revenue in 2020 will be 159.3 billion US dollars, with Asia-Pacific accounting for nearly half of this figure. Chain World develops and supports earning rewards through gameplay so that the community can share in the value generated.
The global virtual social events market is worth USD 94.04 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 23.7 percent from 2021 to 2028. The Asia-Pacific region is the fastest growing, with a CAGR of more than 26.0 percent between 2021 and 2028. Chain World has created an MVP for use with Credit Suisse and PricewaterhouseCoopers. Host a Metaverse virtual networking event with partners such as Ernst & Young and the Swiss MBA Association, which has over 3,500 members from leading universities in 40 countries.
On the other hand, during the period 2020-2030, the global non-fungible token market is expected to grow at a CAGR of 39.6 percent, with revenue rising from $340 million to $357,316.3 million. The Chain World metaverse social ecosystem is built around NFT.
