MetaJuice, trustee of one of the metaverse’s most popular on-platform native wallets that’s building blockchain-driven economies has revealed the virtual retail trends in the U.S. for December 2022 and early January 2023 that buck retail trends for physical goods.
The popularity of these NFT-based digital collectable goods has also catapulted the numbers of Web3 Wallets on IMVU (3D Avatar Social App) past 1 million in less than two years.
John Burris, President of MetaJuice said, “We want to make NFTs affordable to the masses and have true utility so owners can use, wear, trade, and gain social currency to improve their daily digital lives. Sales of digital goods in games and metaverses have grown steadily and NFTs will further propel their popularity through scarcity, uniqueness, and proof of ownership.”
The trend shows that Millennials and Gen Z (18-35-year-olds) are leading, with virtual fashion, beauty and streetwear items priced at between $3-100 selling out in the tens of thousands in an average of 7.5 minutes per release. In the first month, MetaJuice was amongst the top 10 in global NFT collectable transactions on DappRadar, an NFT marketplace that tracks all blockchain transactions.
JP Morgan analysts have estimated that a whopping $54 billion is spent yearly on virtual goods, while McKinsey & Company have predicted that the nascent metaverse space could be valued at $5 trillion come 2030.
Below are the 10 fastest-selling goods on IMVU:
- Pop Neon Hair
- Idol Fade Hair
- Streetwear Blue Sneakers
- Streetwear Pink Hoodie
- Streetwear Dreadlocks
- Idol Undercut Hair
- Pop Bob Hair
- Idol Slicked Hair
- Glam Dress Shoe
- Streetwear Skater Hair
“We are bringing non-crypto users into crypto without them realizing it,” Burris said. “Users care less that they are NFTs and more that they are unique, ownable, resellable and provide social currency. They are creating wallets, using VCOIN, and buying and selling NFTs. This trend will greatly increase our revenue from catalogue sales.”
And while many users enjoy using the NFTs with their avatar on IMVU, many items are being collected and re-sold by buyers on the IMVU marketplace. Below are the hottest item collections on the secondary market (based on the total per cent of collections sold):
- Idol Hair
- Blue Streetwear
- Pink Streetwear
- Pop Hair
- Grunge (Male)
- Grunge (Female)
- Y2K (Male)
- Glam Dress
- Glam Suit
- Y2K (Female)
Some users have displayed excitement with their experience with NFT Exclusives with one user saying “Do you want to feel special? Check out the NFT shop. there is always something to wear that makes you feel special and unique.”
Another user adds, “They say you can’t buy happiness but you can buy shoes. Me: I buy #IMVUNFT shoes,” said user mike_ moon007.
The trend also shows that more than 80% of the above virtual goods have been bought and sold by users aged between 18-35. IMVU boasts of nearly 1M daily active users that spend around 55 minutes on the platform, the majority (65%) of whom self-identify as female.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
