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The metaverse is one of the fastest-growing and most talked about opportunities in the business world today. With so much untapped opportunity for brands and businesses, getting ‘metaverse ready’ is a hot topic in boardrooms around the world.
The metaverse, although not totally new, is a somewhat fresh term for many, and there is a race on to see who can ‘get there’ first. Brands can see its immense potential, with new ways to engage with audiences, market and sell to them.
We have worked with some of the biggest brands in the world to help them get metaverse ready, from developing 3D products for HP, to an augmented reality experience for Vaseline and a totally new online virtual exhibition space for UPS. As more brands begin to enter the metaverse, so will their customers.
But don’t just listen to us, here are 12 metaverse facts and stats to back it up:
1. 71% of consumers say they would shop more often if they could use AR more. (threekit)
2. 1.7 billion mobile augmented reality users are expected by 2024. (InfluencerMarketingHub)
3. $501 million were spent on metaverse real estate in 2021 alone, forecasted to double throughout 2022 (CNBC)
4. A digital Gucci bag was sold for $4,115, this was $800 more than the physical counterpart of the product. It is expected that digital items in the metaverse will become as, if not more expensive than their physical counterparts. (scmp)
5. No single company is developing or will own the metaverse, major players have the largest influence, but hundreds are working towards it. The metaverse will be a digital world where people can interact with many spaces, people, brands and more. (XR Today)
6. The metaverse industry could be worth up to $800 billion by 2024, which would be enough to surpass the revenue of gaming software, services, and advertising. (Bloomberg)
7. Snoop Dogg’s “snoopverse” brought in $14 million of revenue on its first day. And someone paid £450,00 to be Snoop’s digital neighbour. (fortune)
8. 27% of internet users would like to use augmented or virtual reality to help in decision-making when purchasing clothing. (Insider Intelligence)
9. $700+ million has been spent on virtual land in the metaverse, with the biggest single sale costing $2.4 million. (NonFungible)
10. 10,000 jobs were created by Meta (Facebook) alone for their metaverse ventures, developments, and experiences. (The Small Business Blog / The Guardian)
11. AR/VR sales are expected to exceed 76 million units in 2024. With AR and VR growth rate from 2020 to 2024 predicted to be approximately 86%. (medium)
12. 74% of internet users would join or consider joining the metaverse. With indulging in new experiences being the biggest motivator. (Statista)
At REYDAR, our team of experienced creatives and technical wizards have the capabilities to propel your brand into the metaverse. From 3D and augmented reality viewers to unique and custom-branded virtual stores and exhibitions. Contact us to book a free demo.
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