Metaverse Development Cost Breakdown | Cost to Build Metaverse

The immense growth & popularity of Metaverse has compelled business owners, startups, tech giants, and entrepreneurs worldwide to invest.

• Experts project that the market for the Metaverse will grow from its current size of about USD 47.48 billion to a peak of around USD 678.1 billion by 2030.
• The global metaverse market was worth USD 63.83 bn in 2021 and is expected to grow to USD 1527.55 bn by 2029, with a CAGR of 47.6%, starting from USD 100.27 bn in 2022.

Based on these numbers, Metaverse is the future of the digital world. More companies focus on entering this ever-changing field, which will heat the competition. 

Therefore, it is crucial to know how much metaverse platform development will cost if you want to make a mark in the industry. 

Metaverse development cost depends upon many factors like the type of platform development, the industry of platform development, development team and many more.

However, the overall cost depends on multiple factors, varying from $25,000 to $370,000. Let us try to understand the factors that will decide the cost of your metaverse platform.

You can also schedule a call with our experts for a handshake deal. We provide you with an exact estimation of your platform based on selected technology, feature, functionality, and more services. Don’t delay your dreams anymore. Call Us Now!

Metaverse Platform Development Cost Factors

1. Metaverse Platform Development Type
2. Metaverse Platform Features
3. Metaverse Integration Services
4. Blockchain Technology Implementation
5. Tech Stacks
6. Metaverse Development Team
7. Location Of Development Team

Let’s dive deep into the sea of metaverse costing to understand it.

Type of Metaverse Platform

Below we have mentioned various types of metaverse platforms along with metaverse solutions cost. Find out what will be your platform cost.

Gaming

The cost of a metaverse gaming platform development depends on several factors, such as the size and complexity of the platform, graphics quality, user experience, number of players, type of players, and underlying technologies. A simple 2D platform costs as low as $40000, whereas a 3D metaverse platform could be between $30,000 - $200,000.

Some popular play-to-earn Metaverse games are The Sandbox, Minecraft, Axie Infinity, Alien Worlds, and many more.

Enterprise

The building enterprise metaverse platform is based on the type of virtual environment you want to create, like meeting rooms, conference halls, interview areas, and personal space for your employees. Based on features, functionalities, and infrastructure, the cost to develop a platform varies between $50,000 to $500,000. Besides that, time is required between considering other aspects of the project, including planning, design, development, testing, deployment, and ongoing maintenance and support effect costing.

Social Media

Social Metaverse platform costing significantly depends on the scope and complexity of the virtual world, the number of users, the features and functionality required, and the underlying technology and infrastructure. The cost of web3 social media platform development falls between $25,000 to $450,000, offering a community and compelling social interaction experience.

E-commerce Platform

Metaverse Ecommerce platforms vary in size and complexity in the virtual world, like whether you are going to sell a few category-based products or planning for multiple category products on your platform, such as Amazon. The price fluctuates due to changes in platform size. It can be designed and developed between $70,000 to $500,000.

Live Concerts

Live concerts and event platforms in the metaverse are trending these days. The platform has the ability to offer amazing user experiences while interacting with favorite celebrities via digital avatars. Like physical concerts, NFT tickets will be sold in exchange for cryptocurrency. The platform comes with the integration of a crypto wallet and NFT marketplace features and can be developed between $40,000 to $500,000.

The list does not end here; there are many other metaverse platforms like education, real estate, banking, and the list goes on. One common thing in all platforms is the development cost that depends on the project's specifications, features, and functionalities.

Cost-Based On Metaverse Platform Features

Features play a significant role to add cost. Here we have highlighted essential features for your metaverse platform development. 

3D Digital Avatars

Digital avatars are the essential aspects of metaverse technology. It offers a seamless user experience while entering the digital world and enables full access to the technology. Digital avatars are not just a replica of the creator or of their own preference. Adding varieties of replica creation features on the platform adds cost.

Fully Immersive User-Experience

Metavere creates a fully immersive environment where avatars can use all the likes of sight, hearing, touch, taste, and smell. AR and VR metaverse technologies involve elements like multi-definition sounds and surround images that enable a user to have a real-like experience in the virtual world.

Real-Time 3D Spaces

These virtual spaces can either be a whole new location or even the exact digital replica of any existing physical location. In both cases, developers need to spend more time creating a customized platform, especially when one needs a replica of physical space.

Customizability

3D virtual worlds in the metaverse offer highly customizable experiences at the design venue as per users' preference. For instance, an education platform mentor can design a classroom as per their needs. Same way, when it is going to be used for a seminar or other purpose, the platform will be different in looks and experience. But adding all these features adds cost to the platform development.

E-wallets and Cryptocurrencies

E-wallets and cryptocurrencies go hand in hand. Web3 wallets are also supported by Metaverse, allowing businesses to control transactions across their virtual ecosystem. These wallets are designed with blockchain technology such as Ethereum, Solana, Polygon, and others to support and control transactions across their virtual ecosystem. The design and development of an e-wallet platform based on selected technology also adds cost.

Multi-Device Functionality

Another significant characteristic of the metaverse is that the platform can be accessed and operated from any device and at any time. For this, your platform is tested on multiple devices during the development phase to serve you hassle-free results. The QA team tests the platform multiple times and on multiple devices.

Cost of Metaverse Integration Services

Blockchain Technology Cost

The following table represents the cost distribution of blockchain technology based on an inhouse team.

The blockchain implementation on the metaverse platform is spent on multiple activities and phases. Some of the highlighted below;

3rd Party Tools That Contribute In Metaverse Development Cost

• Monitoring Services like Uptime Robot and Statuspage.io: Sending notifications for downtime ($10 to $50)
• Analytics with Flurry or Mixpanel: Analytics of data, funnel, insights, and reporting ($0 to $150)
• Amazon Web Services: Computing, Delivery, and Storage ($100 to $1000, depending on the number of users)
• Bug Tracking Tools like Instabug and Bugsee: Gathering and reporting live bugs ($10 to $100 per month)
• Notification Services like Twilio, Kumulos, and Amazon SNS ($10 to $100 per month)
• Enabling notifications within the app ($10 to $50)

Cost of Using Tech Stacks To Build Metaverse Platform

Front-End Development

The aspect focuses on the visual elements of a decentralized application where users interact. It is developed with the following;

• JavaScript-based framework; React-native.
• HTML
• CSS
• WebSocket
• Web3js

Backend Development

Blockchain-based solutions are mainly run by smart contracts where code runs across a decentralized peer-to-peer network and regulates the dApp.

• Solidity
• Rust
• Node.js
• React Native
• DocumentDB
• MongoDB
• Auth0
• Web3Js

AR and VR Technologies

For engaging user's experience AR & VR technologies play a crucial role in every metaverse platform. Some of the essential technologies are:

Unity- A feature-packed development platform for creating real-time events while supporting multiple OS- Windows, macOS, and Linux as well as 14+ platforms, including desktop, mobile, console, and VR devices.

ARToolKit- An open-source and free library offering ultimate features like automated camera alignment, multi-language support, and compasses support to develop real-time applications.

Apple ARkit- Toolkit enables the blockchain developers to activate image filters and facial expressions of the 3D characters. It enhances lightning in digital objects.

Unreal Engine- Open and advanced real-time 3D editor designed to create photorealistic and immersive events for diverse projects, from gaming to media & real estate.

Google ARcore- A Google-owned toolkit with features such as environmental comprehension, light estimation, and motion tracking that pair well with the new-age tools; Unity and Unreal to support the development of AR and VR solutions.

Maxst AR- A plugin that allows the maps to extend as per the camera’s movement and even beyond the camera to create an enhanced, vivid experience on extended reality solutions.

Artificial Intelligence

• AWS sage maker says Amazon web service-based public cloud offers essential tools to build, optimize, and deploy artificial intelligence and machine learning models.
• Scikit - Learn is a key library designed to support use in Python programming languages, typically used in machine learning and artificial intelligence.
• TensorFlow, An open-source library launched by Google for deep learning and traditional application development.

3D Reconstruction

To build a high definition environment in the virtual world can be constructed with unity, unreal, and CRYENGINE like popular 3D development tools.

Unreal Engine: Unreal Engine 5 offers the following features;

• Next-generation real-time rendering
• Open world toolset
• Built-in advanced animation tool and characters
• Enhanced UI editor

Unity

A complete solution for real-time 3D, AR & VR, from ecosystem tools to support developers in creating immersive user experiences. Its features involves;

• Unity pro- a most advanced 3D editor
• Inhouse artist tools and well-curated documentation.
• Unity gaming services- tools and resources to take your gaming projects to the next- level.

CRYENGINE

A popular 3D development tool designed to assist game developers. The platform offers unique features like;

• Stunning visuals and lifelike characters
• Support the development of simple and feature-rich VR apps
• For highly immersive digital experiences, built-in audio solutions designed

 IoT Development

• Azure IoT hub
• AMQP
• Lorawan

Development Cost

Development cost involves all the experts contributing to building the platform. Here we have mentioned an expert list employed on your metaverse platform development.

• 3D Modellers
• Decentralized Database creation expert
• Full-stack Developers
• React.js and Node.js Developers
• UI/UX Designers
• UNITY/UNREAL/CRYENGINE Developer
• Decentralized Wallet Developer
• Decentralized dApp Developer

These experts can charge around $10,000 for their services. But these can also vary based on the location of developers. Below we have discussed in-detail location-based costing to build a metaverse platform.

Development cost also involves infrastructure cost, maintenance, promotion, and more changes. Read out the table to know in detail.

Cost Based on Location

Location of Metaverse development firm has a greater impact on the platform development cost. Here’s a list of some estimated prices quoted by major metaverse development companies around the corner.

Note: The above mentioned charges apply at the time of writing. These could vary due to change in trends, technology prices, developers cost and more reasons.

Call our experts to find your metaverse solutions cost breakdown!!!