The use of virtual goods is moving beyond video game environments, helping brands create new markets and online experiences.
Virtual goods have suddenly become a big business.
These non-tangible goods — items you cannot touch and that can only be accessed and traded in virtual environments — are already a $190B market, according to CB Insights’ Industry Analyst Consensus.
E-gamers have been spending fortunes on in-game virtual items such as skins, cosmetics, or accessories for their characters over the past years. Free-to-play video game Fortnite, for example, has generated $2.4B in revenue in 2018 by selling these items.