The Global Blockchain Gaming Market size is expected to reach $104.5 billion by 2028, rising at a market growth of 68.2% CAGR during the forecast period.
Video games incorporating elements that employ blockchain technology based on cryptography are known as "blockchain games" (also known as "NFT games" or "crypto-games"). Players may purchase, sell, or trade in-game goods with other players when a video game uses blockchain technology, particularly cryptocurrencies and non-fungible tokens (NFTs). As a method of commercialization, the game publisher deducts a charge from each transaction.
Due to the technologies they include that let players earn Bitcoin via gaming, a subset of these games is sometimes called "play-to-earn" games. Numerous AAA publishers want to use this technology in the future. However, blockchain technology has drawn criticism from gamers, game creators, and game corporations for being superfluous, unsustainable, and exploitative.
Cryptocurrencies and NFTs, which use blockchain technology, are prospective revenue streams for video games. Many online games allow players to customize their characters using skins or other in-game goods, which they can acquire and exchange with other players for in-game cash. Certain games' features are the ability to trade virtual goods for real-world money. Blockchain games often enable players to swap in-game things for cryptocurrency, which may be converted into real cash. Because of the traceability of the blockchain, this may avoid specific issues with grey markets.
Undoubtedly, the COVID-19 pandemic has had a significant effect on companies. Companies and organizations had to change how they operated to accommodate an online working environment. Operators, publishers, and game developers could continue operating thanks to work-from-home options, despite some productivity issues. People are now playing blockchain games to pass the time. People were seeking methods to keep themselves amused while maintaining social connections, and they discovered blockchain games. As esports adjusted their modes of operation to deal with the issue during the COVID-19 period, live events gave place to live broadcasts. The COVID-19 pandemic has had a good effect on the companies and organizations involved in the subscription-based gaming sector, resulting in excellent sales and income.
Mobile gaming players worldwide have increased due to the accessibility of high-quality smartphones. Because more people have access to smartphones and the internet is more widely used, users' expectations for mobile gaming are continually rising. In addition, users of mobile-based blockchain games have increased as a result of smartphone technology advancements, including broader displays, more storage capacity, and high RAM integration. As a result, while casual games are still popular, hard-core gamers' phone screen time has significantly increased.
Online gaming has advanced thanks to recent technological advancements to the point where there is hardly a difference between reality and fiction. The game's excitement, originality, and design aroused the player's brains. Blockchain gaming is becoming more popular due to rapid technological advancements since they provide players with a unique experience and higher levels of enjoyment. As a result of technological advancements like virtual reality, artificial intelligence, and augmented reality, games are becoming more engaging and exciting for players.
Lack of understanding of the blockchain, the technology that underpins blockchain gaming, is the greatest obstacle to its acceptance and adoption by the general public. Blockchain is one of the newest and most exciting technologies on the market right now. End customers still need help grasping the technical aspects of the blockchain idea, nevertheless. Although there are numerous blockchain solution suppliers on the market and this technology offers many advantages, adopting blockchain solutions still needs improvement.
Based on platform, the blockchain gaming sector is classified into ETH, BNB Chain, Polygon, and other platforms. The blockchain gaming industry saw a considerable revenue share acquisition by the BNB Chain sector in 2021. The Web3 game industry, often known as GameFi, is quickly adopting the Binance blockchain environment. BNB Chain has developed into a decentralized, permission less, and community-driven blockchain ecosystem. The BNB Chain community has made technological advancements over the last several years to provide increasing decentralization.
Based on game type, the blockchain gaming sector is divided into role-playing games, open-world games, and collectible games according to the kind of game. The blockchain gaming industry was led by role-playing games in 2021, with the highest revenue share. The selling of role-playing games and associated services provided by businesses, partnerships, and single proprietors who create these games is included in the role-playing genre sector. The organizations are also involved in designing, installing, producing, distributing, and supporting services for role-playing games.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 2.9 Billion |
| Market size forecast in 2028 | USD 104.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 68.2% from 2022 to 2028 |
| Number of Pages | 150 |
| Number of Tables | 272 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Game Type, Platform, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the blockchain gaming market is classified into North America, Europe, Asia Pacific, and LAMEA. With the highest revenue share in 2021, the Asia Pacific region took the lead in the blockchain gaming Market. Since there is a sizable population of gamers in the area, gaming is already a multi-billion dollar business in the Asia Pacific. As a result, blockchain game providers will have access to a large consumer base. Furthermore, the blockchain gaming sector also benefits from government laws on the blockchain.
Free Valuable Insights: Global Blockchain Gaming Market size to reach USD 104.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sky Mavis Pte. Ltd., Splinterlands, Animoca Brands Corporation Ltd., Wemade Co., Ltd, Dacoco GmbH, Dapper Labs, Inc., Immutable Pty Ltd., Alwaysgeeky games, Mythical, Inc.By Platform
By Game Type
By Geography
The global Blockchain Gaming Market size is expected to reach $104.5 billion by 2028.
Increase in Internet Accessibility and Smartphone Use are driving the market in coming years, however, Insufficient Knowledge of Blockchain and NFT Technologies restraints the growth of the market.
Sky Mavis Pte. Ltd., Splinterlands, Animoca Brands Corporation Ltd., Wemade Co., Ltd, Dacoco GmbH, Dapper Labs, Inc., Immutable Pty Ltd., Alwaysgeeky games, Mythical, Inc.
The expected CAGR of the Blockchain Gaming Market is 68.2% from 2022 to 2028.
The ETH market is leading the Global Blockchain Gaming Market by Platform in 2021; thereby, achieving a market value of $51.0 Billion by 2028.
The Asia Pacific market dominated the Global Blockchain Gaming Market by Region in 2021; thereby, achieving a market value of $40.7 Billion by 2028.
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