Market overview

Having our main revenue based on protecting crypto wallets, we firstly looked at the number of wallet users. We started our market size research in terms of potential users from Crypto.com - Crypto Market Sizing Report 2022 that estimates the total number of wallet users to be 300 millions. Taking into consideration that, according to security.org - Personal Antivirus Software Annual Report and Outlook: 2022, 38% of antivirus solutions are very likely to pay for personal customer protection services, we determined that our targetable audience could be up to 114 millions users. Due to being an early-stage project and having an evolving set of products, we decided to focus at this stage on the retail side of the market for easier adoption and sustainable growth. According to Coinbase, Morgan Stanley Research, if 32% of the crypto market are retail users, that would give us a direct audience of 36.4 millions of customers.

In order to determine the market size in terms of value generated, we based our calculations on the average price paid for a personal antivirus yearly subscription. Thanks to statistics assembled by security.org, the average payment for this type of services can be estimated at $30/person/year. Looking from a different perspective, the U.S. Federal Trade Commission found and identified 46,000 individuals that were victims of scams between January 2021 - June 2022 totalling a shocking $1 billion in total losses. The median individual reported loss among these victims was $2,600. This data gives us a hint at how much the next 46,000 possible victims would be ready to pay for avoiding such high losses. Additionally, the FTC claimed that almost 40% of the $3.56 Billions lost to online frauds were lost by crypto scams, amounting a loss of $1.42 Billion in the USA only.