Blockchain Gaming Market – Global
A blockchain game utilizes technology to improve or redesign classic video games. The digital assets used in games created on the blockchain have real-world value as non-fungible tokens (NFTs).
Blockchain technology enables players to track the ownership and transfer of their virtual assets. It offers players control over their game assets and transactions, allowing them to make secure transactions without the help of intermediaries.
Market Size and Forecast
➟ In 2022, the Global Blockchain Gaming market was valued at $4.6 billion and is expected to grow and reach $65.7 billion by 2027.
➟ During the forecasted period 2023-2027, the Global Blockchain Gaming market will be growing approximately at a CAGR of 70.2%.
➟ The rising popularity of blockchain technology, growing demand for decentralized games and assets, and the potential for blockchain games to offer new gaming experiences and opportunities are all predicted to boost market growth throughout the forecast period.
➟ Blockchain game investments are fueling industry growth. As blockchain technology alters the gaming business, several game firms and developers have collaborated with blockchain platforms.
Top Companies
Market Segmentation
By Region
➟ In 2022, the Asia Pacific region held the highest share of approximately 40% of the total Global Blockchain Gaming market.
➟ This was followed North America (20%), Europe (15%), and Rest of the World.
By Game Type
➟ In 2022, the Role-Playing segment dominated the Global Blockchain Gaming market and held around 60% of the total market categorized by game type.
➟ It was followed by Open World segment (30%), and the Collectible segment (10%).
Market Dynamics
Drivers
➟ Advanced Technology Of Blockchain Games
➟ Increasing Demand For Decentralized Games And Assets
➟ Increase In Internet Accessibility And Smartphone Use
Challenges
➟ Regulatory Challenges
➟ Insufficient Knowledge of Blockchain and NFT Technologies
Investments in Blockchain Games
➟ In 2021, there was around $4 billion investment in the blockchain gaming industry.
➟ In Q1 and Q2 2022, $2.5 billion was invested in blockchain games, respectively. This included investments for play-to-earn games as well as other types of blockchain games.
➟ In 2022, the overall investments in this industry reached approximately $12 billion.
➟ In October 2022, Animoca Brands made a strategic investment in Cool Cats, which will assist Cool Cats in becoming a recognized NFT brand worldwide.
Notable Gaming Blockchain
➟ In Q2 2022, the most notable gaming blockchain was Wax, with almost 400,000 unique active wallets (UAWs).
➟ In the same year, Hive was the second biggest gaming blockchain network with approximately 283,000 UAWs.
Data Sources: Markets and Markets, Grand View Research, Cudos, Allied Market Research, Appinventiv, and other sources.
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