According to a new market research report titled,
‘Blockchain Gaming Market by Platform (Ethereum, Polygon, Solana, Cardano, EOS,
Binance Smart Chain), Model (Free-to-play, Pay-to-play, Play-to-earn), Genre,
and Geography - Global Forecasts to 2030,’ the blockchain gaming market is
expected to reach $165.4 billion by 2030, at a CAGR of 51.7% from 2023 to 2030.
Blockchain technology in the gaming industry offers new
opportunities for monetization, security, and transparency. It creates unique
digital assets that can be traded and sold on blockchain-based marketplaces,
creating new revenue streams for game developers and players. Blockchain-based
games offer the potential for more efficient and cost-effective
microtransactions, enabling players to pay for small items or features in games
without the need for intermediaries, and game developers can receive direct
compensation.
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Several companies are integrating blockchain technology in
games for secure and transparent tracking of transactions and ownership of
in-game items. The growth of this market is mainly driven by the proliferation
of player-driven economies, the increasing need for secured and transparent
gaming environments, and growing investments and funding in blockchain gaming.
Additionally, cross-game interoperability in multiple games or platforms,
non-fungible tokens (NFTs), and play-to-earn model trends are expected to
create market growth opportunities. However, complex standards &
regulations for blockchain gaming restrain the growth of this market.
Cybersecurity & data privacy issues are major challenges for players in
this market.
Integration of game finance (GameFi), decentralized finance
(DeFi), metaverse, and other virtual worlds are prominent trends in the
blockchain gaming market.
The blockchain gaming market is segmented by platform
(Ethereum, Polygon, Binance Smart Chain (BSC), Cardano, Flow, Solana,
Electro-Optical System (EOS), and other platforms), model (free-to-play (F2P),
pay-to-play (P2P), play-to earn (P2E), and other models), and genre
(action/adventure, sandbox, simulation and sports, role-playing, player vs.
player, multiplayer online battle arena, real-time strategy, shooters, racing,
puzzlers and party games, survival horror, and other genres), and geography.
The study also evaluates industry competitors and analyses the market at the
regional and country levels.
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Based on platform, the global blockchain gaming market is
broadly segmented into Ethereum, Polygon, Binance Smart Chain (BSC), Cardano,
Flow, Solana, Electro-Optical System (EOS), and other platforms. In 2023, the
Ethereum segment is expected to account for the largest share of the global
blockchain gaming market. This segment's large share is attributed to its
compatibility with various programming languages for flexible development
options, established network and infrastructure for reliable and secure
transactions, smart contract functionality and programmable in-game logic,
growing need for transparency, immutability, and the seamless transfer of
digital assets across games. However, the Binance Smart Chain segment is
projected to register the highest CAGR during the forecast period.
Based on model, the global blockchain gaming market is
broadly segmented into free-to-play (F2P), pay-to-play (P2P), play-to-earn
(P2E), and other models. In 2023, the free-to-play segment is expected to
account for the largest share of the global blockchain gaming market. This
segment's large market share is attributed to its easy accessibility to a wide
audience without upfront purchase or subscription fee, continuous content
updates, the rise of smartphones and mobile gaming, and its ability to allow
players seamlessly switch between different devices and continue their
progress. However, the play-to-earn (P2E) segment is projected to register the
highest CAGR during the forecast period.
Based on genre, the global blockchain gaming market is
broadly segmented into action/adventure, sandbox, simulation and sports,
role-playing, player vs. player, multiplayer online battle arena, real-time
strategy, shooters, racing, puzzlers and party games, survival horror, and
other genres. In 2023, the action/adventure games segment is expected to
account for the largest share of the global blockchain gaming market. The large
market share of this segment is attributed due to the increasing availability
of action/adventure games across multiple platforms, including consoles, PCs,
and mobile devices, and increasing investment from game developers and
publishers for higher-quality productions and greater market visibility for action/adventure
games. However, the role-playing segment is projected to register the highest
CAGR during the forecast period.
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Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/27563564?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-07-2023
Based on geography, the global blockchain gaming market is
segmented into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa. In 2023, Asia-Pacific is expected to account for the
largest share of the global blockchain gaming market, followed by Europe and
North America. The large market share of Asia-Pacific is mainly attributed to
the increasing advancements in technology and infrastructure, including robust
internet connectivity and widespread adoption of mobile devices, the rising
popularity of the esports market in countries including China, India, Japan,
and South Korea, and the growing supportive regulatory environment for
blockchain gaming ventures. This market is also expected to witness rapid
growth during the forecast period.
The report also includes an extensive assessment of the key
growth strategies adopted by the leading market participants in the last three
to four years. The key players operating in the blockchain gaming market are
Sky Mavis (Singapore), Enjin Pte. Ltd. (Singapore), Immutable (Australia),
Decentraland Foundation (China), Gala Games (U.S.), Animoca Brands Corporation
Limited (Hong Kong), MyCryptoHeroes (Japan), Dapper Labs, Inc. (Canada), WAX
(Worldwide Asset eXchange) (U.S.), Forte Labs, Inc. (U.S.), Lucid Sight (U.S.),
Chromia (Sweden), Ultra (France), Mythical Games (U.S.), Splinterlands (U.S.),
Wemade Co., Ltd. (South Korea), Dacoco Gmbh (Switzerland), Illuvium
(Australia), Uplandme, Inc. (U.S.), and Sorare (France).
To gain more insights into the market with a detailed
table of content and figures, click here: https://www.meticulousresearch.com/product/blockchain-gaming-market-5540?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=27-07-2023
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