Metaverse Platform Development Cost 2024 | Metaverse Solutions Cost

How Much Does It Cost To Develop A Metaverse?

By Suffescom Solutions

July 27, 2023

How Much Does It Cost To Develop A Metaverse?

Every business, whether real estate, banking, fashion, or even event management, looks to transform the business into the virtual world. 

Recent data indicates that 48% of internet users express interest in utilizing the metaverse for art and live entertainment, while the remaining 52% employ it for work. Additionally, 40% embrace the metaverse for educational purposes, 32% use it to make friends and find dates online, while 28% engage in video games.

If you plan to reach a wider audience and offer state-of-the-art services with an advanced platform. You are on the right track to take your business to the next level. But the only thing that strikes every budding entrepreneur is How Much Does It Cost To Develop A Metaverse Platform? If it's your question, too, you are at the right place.

Instead of scrolling the whole blog to determine the cost, we sum up the exact cost range in a single line. The metaverse development cost depends on the specific industry and varies between $30,000 - $3,00,000 as per business requirements.

Consult With Experts For Metaverse Platform Building Cost

Multiple factors that can fluctuate the cost of metaverse development solutions, such as complexity, graphic quality, gameplay mechanics, and multiplayer features. and type of metaverse projects. We are here to provide you lowest cost metaverse solutions for each and every field. Consult Now!!

Now, that you are clear about the cost range, we’ll further discuss the factors responsible for development cost.

Why Should Businesses Invest in The Metaverse Development?

  • Experts expect the metaverse market to reach $800 billion in revenue by 2024.
  • The Europe metaverse market is expected to grow from $18.04 billion in 2022 to $348.14 billion by 2030, with a CAGR of 44.8%.
  • In 2022, the United Kingdom contributed the largest amount to this market, $5.03 billion. By 2030, the contribution is expected to grow to $94.68 billion, reflecting a Compound Annual Growth Rate (CAGR) of 44.3%.
  • Experts estimated the value of the German market at $4.45 billion in 2022, and they expect that number to increase to $89.37 billion by 2030, reflecting a compound annual growth rate (CAGR) of 45.5%.

Metaverse Platform Cost Depends on Various Factors. These Involve.

  1. Industries
  2. Metaverse Services
  3. Features of The Platform
  4. Technologies Used
  5. Number of Expertise Involved
  6. Top Open-Source Tools And Frameworks
  7. Cost Breakdowns

You can also click here to schedule a call with our expert. Suffescom Solution Inc. is a leading metaverse development company with an exclusive solution for every industry. We have a team of 500+ handpicked skilled blockchain platform developers including, project managers, designers, developers, analytics, and marketing, to provide everything in one place. We have designed and developed web3 and metaverse-related projects in various blockchain technologies.

Metaverse Platform Development Cost Across Industries

The cost of metaverse platform development depends on industries. Some industries require fewer funds, and others require more. Find out which is your industry and how much experts can charge.

NFT Marketplace Development

A platform designed to buy, sell, mint, or non-fungible exchange tokens with the power of blockchain technology. The average cost of developing an NFT marketplace comprises $50,000 to $500,000, depending on the features and complexity of the project.

Metaverse Ecommerce Platform Development

The platform can range between $25,000 to $400,000. But it can reshape your ecommerce business with the ability of 3D. Users can try clothes, shoes, accessories, and more, then make a decision. This is the reason the majority of businesses are shifting from existing platforms to metaverse ecommerce stores.

Metaverse Game Development

Metaverse gaming platforms development require rich-look avatars, unique accessories, outfits, weapons, and more details. These require advanced tools and technologies that result in enhancing your users' experience. More, the type of gaming platforms like move to earn, play to earn, watch to earn, The Sandbox, Minecraft, Axie Infinity, Alien Worlds, etc., are other factors adding value to cost. Therefore, it may vary between $30,000 to $300,000.

Metaverse Social Media Platform Development

The future of social media will lie in the metaverse, where digital avatars will interact, play, walk, watch movies, and more. Apart from communication or entertainment, it will be a perfect platform for commerce. The cost of Metaverse Social Media platform development can range between $25,000 to $400,000.

Metaverse Real Estate Platform Development

Metaverse in real estate can enable quick viewing, buying, and selling of properties. It can help interact with clients and finalize properties virtually. The cost of building Metaverse Real Estate can vary between $35,000 to $300,000.

Metaverse Event Platform Development

Metaverse Event Platform involves virtual gatherings of people hosted over a metaverse platform. The important element of the platform involves the venue, feature addition, characters, and facilities for the visitors, placements of banners and videos for promotion, allocation of booths to sponsors & exhibitors, etc. Companies can charge between $35,000 to $350,000 for the metaverse event management platform development.

Metaverse Virtual Office Development

Virtual office in the metaverse is an exciting workplace with the ability of 3D virtual reality and augmented reality. The office involves meeting rooms, conference rooms, interview rooms, training rooms, and more. Metaverse virtual office development generally range between $25,000 to $350,000 based on multiple factors.

Metaverse Fashion Development

Metaverse can provide an incredible experience for luxury and fashion players. Therefore, many major brands are shifting to a powerful virtual reality and 3D power-based platform. The platform allows users to try before buying. You can build Metaverse Fashion Development between $30,000 to $250,000.

Explore the Cost Before Investing In Your Own Metaverse in 2024?

Diving into the metaverse: Navigating the key factors and costs of building your own platform. The cost of developing a metaverse platform is highly variable, ranging from millions to tens of millions of dollars, depending on complexity, features, and scalability requirements.

Metaverse Healthcare Development

Metaverse Healthcare's platform is designed to provide top-notch services that allow healthcare professionals to deliver more collaborative treatment. The patient detail and the rest of the things can be stored in blockchain technology, making them easy to access anywhere and anytime. The average cost of building these platforms involves $30,000 to $300,000.

Metaverse Banking Platform Development

The platform is designed to serve a new breed of digitally-native gen-z consumers with existing services. The platform will provide all services of branches via virtual branches. The concept of metaverse banking is backed by Blockchain, AR, VR, Artificial Intelligence, and Machine learning, and the cost can vary between $50,000 to $500,000.

The above-mentioned figures involve the overall cost of platform development. These costs can be further bifurcated according to services, features, and technology selection. Let’s check out some of these.

Check the table below with the metaverse platform development cost based on different industries.

Metaverse Industry DevelopmentCost
NFT Marketplace$50,000 to $500,000
Metaverse Ecommerce Platform $25,000 to $400,000
Metaverse Game$30,000 to $300,000
Metaverse Social Media Platform$25,000 to $400,000
Metaverse Real Estate Platform$35,000 to $300,000
Metaverse Event Platform$35,000 to $350,000
Metaverse Virtual Office$25,000 to $350,000
Metaverse Fashion$30,000 to $250,000
Metaverse Healthcare$30,000 to $300,000
Metaverse Banking Platform$50,000 to $500,000

Cost Based On Metaverse Services

Metaverse platforms involve various services such as application development, API integrations, marketing tools, data tools, and more to provide a better user experience. But these involve cost, too, especially when you are purchasing premium versions of tools for a better security approach. Here is the cost for these.

Metaverse Application $20,000 to $300,000
Metaverse API integration $25,000 to $150,000
NFT Marketplace Integration $50000 to $116040
Data Integration $12,000 to $40,000
Tools Integration $1000–$15,000
Defi Integration $15000 to $110000
dApp Integration $35,000 to $150,000
Decentralized Autonomous Organization (DAO) $10,000 to $30,000
Cryptocurrency Wallet$125,000 to $200,000

Must Have Features of the Metaverse Platform

Decentralized Identity Management System

Metaverse allows users to manage their identity by creating digital avatars on blockchain technology. The ability of blockchain can store information of the same such as name, age, address, and other details. It makes it easier for others to identify users without sharing personal details such as contact numbers, bank details, or more!

Digital Assets & Asset Exchange

The feature allows you to use digital assets when you create a metaverse platform. For instance, in gaming platforms, users can buy or exchange special skin and weapons in exchange for cryptocurrency. In other words, the platform allows you to trade assets effectively.

Wallet & Payment Gateway

Wallet helps users to store non-fungible assets securely with payment gateway facilities. The feature operated with smart contracts and ensured both parties fulfilled all the conditions or not. The process ensures speed and transparency through the process.

Tokenization Platform & Protocols

Tokenization features allow users to issue tokens with blockchain-backed security like Ethereum, NEO, or EOS. Users can exchange tokens for cryptocurrency when they are released into the market. The non-fungible marketplace is a prominent example of it.

AR & VR Technology

Mixed reality and AR/VR technologies serve immersive experiences in the metaverse. These technologies provide a more authentic view of bringing games to life, concerts and plays, and professional or educational and more platforms.

Want To Dive Into The Metaverse? Get A Custom Quote For Your Project Today 

Navigating the Metaverse beckons a thrilling adventure, but what about the financial landscape? Crafting your virtual realm demands consideration of development costs. From immersive experiences to blockchain intricacies, expenses vary widely—ranging from thousands to millions. Dive into the Metaverse wisely, understanding the nuanced price tags that pave the way to your digital escapade.

Incorporation of Avatars

Each person has their own digital identity, which can be animated to express oneself in the virtual world. With their virtual or animated entity, users can walk, move, play, exercise, attend meetings, seminars, and more.

The features do not end here, and there are a lot more based on business goals and user needs. And every added feature adds cost to the platform.

The cost can split based on development company location. Some of the examples are;

Geo Monthly Rate (all levels average)
United States $100,000 – $200,000
Central Europe (Estonia, Albania, etc.) $50,000 – $70,000
Germany$90,000 – $150,000
Brazil$40,000 – $75,000
India$40,000 – $75,000

The development cost of a metaverse platform is similar to other platforms, and you just need to clear your goals and company objectives before development. Once these things are in place, the development process can proceed with coding.

Tech Stacks Used To Build Virtual Office In The Metaverse

Technology Tools

Now, whether you plan to develop your own or take help from experts, there are some tools you must be aware of.

  • Webaverse
  • HyperCube
  • XREngine
  • JanusWeb
  • Unity
  • Unreal
  • WebXR Device API
  • Open Metaverse Interoperability Group
  • Blender

Back-end Programming Languages

  • Solidity
  • Golang
  • Rust
  • JavaScript
  • Java
  • Node.js

Front-end Development Stack

  • Angular.JS
  • BootStrap
  • React
  • jQuery

Cloud Services

  • Amazon Web Services (AWS)
  • Google Cloud’s Blockchain Kit
  • Microsoft Azure
  • Digital Ocean

Experts Required For Metaverse Platform Development

  • Solutions Specialist
  • Technical Lead
  • UX Lead
  • Business Analyst
  • BlockChain Consultant
  • Blockchain Developers
  • Blockchain Technical Lead
  • Technical Architect
  • Product Manager
  • Blockchain Architect
  • Quality Assurance
  • Team Leads
  • Scrum Master
  • Quality Assurance
  • Delivery Manager

How to Launch Your Metaverse Project With Suffescom Solutions Inc.?

Suffescom Solution Inc is an emerging web3 and metaverse store development company. We help clients with blockchain consultancy to design, develop and deploy services. We have 13+ years of experience in the IT industry and 6+ years of experience in blockchain development. You can also check our client's testimonials, case studies, and online reviews to know more about us.

Creating A Metaverse Is More Affordable Than You Think.

From concept to creation, our metaverse platform development offers affordable virtual reality experiences.

Wrapping Up!!

Hoping the above guide will provide you with the clarity to understand the cost of metaverse platform development. The future-ready platform is added with cost benefits, security features, prevention against hacking, and more, and it lets you enjoy maximum ROI.

Our dedicated metaverse platform development team can let you enjoy best-in-class services at affordable prices. Contact us to learn more about our services and your business needs!!

Note: The above-mentioned metaverse platform development cost figures apply at the time of writing content. These can vary due to time, features, functionalities, tools, and other factors. Better to consult our experts when you plan for costs.

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