Metaverse may have a $9–17 billion annual economic impact in Vietnam by 2035: Deloitte

With 37% of the population under 25, the Vietnamese are innovative, entrepreneurial, and young. Due to these characteristics, the nation is able to influence the web's development more than it might otherwise. In the Web3 industry, Vietnam has been among the most active players. 

With the success of its blockchain-focused game Axie Infinity, its tech unicorn, Sky Mavis, helped to popularize the "GameFi" (play-to-earn) concept. Additionally, Vietnam came out on top of the Chainalysis Global Crypto Adoption Index for 2021, indicating a widespread adoption of cryptocurrencies in society.

Gaming, which has a high rate of smartphone usage, makes up the majority of the market and is rapidly growing. Vietnam may benefit from these early advantages to create user-centric experiences and apply cutting-edge digital technologies to enhance the country's digital transformation given the popularity of Sky Mavis, VNG, and the quickly growing Southeast Asian mobile gaming market.

Vietnam's e-learning sector for education is growing significantly. Due to a growing need for skilled workers in the industrial and technological sectors, the Vietnamese government has established a goal to provide online education at 90% of universities and 80% of secondary schools and vocational training facilities by 2030. The metaverse's use in education could improve the effectiveness of such instruction.

This will give the government the impetus it needs to go from low-tech manufacturing to a service-oriented economy, increasing the digital economy from its present 8.2% of GDP to 20% by 2025 and 30% by 2030.

An opportunity to expand its domestic ICT industry, the nation adopted the "Make in Vietnam" policy in 2019. It aims to accomplish so by moving away from assembly and outsourcing and toward a sector with strong local skills for product creation and design.

Vietnam's over a million-strong IT workforce and its made-in-Vietnam metaverse products have a bright future thanks to the Metaverse Village in Da Nang and the growing digital content business.