Marvel’s multi-billion dollar IP enterprise is eating up the film and streaming market — but the metaverse is offering new opportunities and creating a whole new market. Marvel is valued at nearly $6 billion for films alone, $40 billion for streaming and about $3 billion for consumer products, according to a 2021 Forbes analysis. While the media giant dominates the lion’s share of graphic novel IP in entertainment within film and streaming, the metaverse offers new opportunities for graphic novel IP. The ‘metaverse in entertainment’ market share is expected to increase to $28.92 billion by 2026.
The entertainment market is essentially expanding with the creation of the metaverse, therefore presenting opportunities to replicate the lucrative success that Marvel has enjoyed. But what made Marvel so popular, and why is the multiverse primed for the metaverse?
Since the inception of the metaverse as a concept, some of the earliest explorations have included the creation — and adaptation of — graphic novels for this new virtual environment. From Method Man’s comic book MEFaverse, to the adaptation of Dan LuVisi’s iconic Last Man Standing: Killbook of a Bounty Hunter, to Killtopia catering to Japan’s ‘Otaku’ community of manga and animé fans.