According to the latest report by IMARC Group, titled “Blockchain Gaming Market by Game Type (Role Playing Games, Open World Games, Collectible Games), Platform (ETH, BNB Chain, Polygon), and Region 2023-2028,” the global blockchain gaming market size reached US$ 4.6 Billion in 2022. Blockchain gaming refers to the integration of blockchain technology with video games, creating a new form of gaming experience that offers players more control over in-game assets and greater transparency in gaming transactions. It helps promote fair play, as game rules and outcomes are recorded on the blockchain, making it impossible for anyone to manipulate the game or cheat. In blockchain gaming, players can use non-fungible tokens (NFTs) and cryptocurrencies to purchase and trade in-game assets, such as virtual currency, items, and characters, on decentralized blockchain networks. This gives players full ownership and control over their in-game assets and allows them to potentially earn real-world value. Blockchain gaming platform ensures that all transactions and interactions between different parties are verified and legitimate and helps minimize fraudulent activities.
Global Blockchain Gaming Market Trends:
The rising popularity of blockchain gaming across the world represents one of the key factors driving the market growth. Besides this, the surging proliferation of smartphones, laptops, tablets, and other internet-enabled devices, the growing acceptance of cryptocurrency, and the launch of unique active wallets, are aiding in market expansion. Moreover, various technological advancements in smartphone technology, such as broader displays, more storage capacity, and high random access memory (RAM) integration, are prompting increased consumer inclination towards mobile-based blockchain games, which, in turn, is creating a positive outlook for the market. In addition to this, the widespread integration of artificial intelligence (AI) in blockchain gaming to improve the overall gameplay experience and prevent cheating is contributing to the market growth. In line with this, the advent of augmented and virtual reality (AR/VR)-based gamification platforms that use AI algorithms to generate random terrain, objects, or other elements of the game is acting as another significant growth-inducing factor. Furthermore, the introduction of various government initiatives to create regulatory frameworks that can help protect players, prevent fraud and cheating, and encourage fair competition in the blockchain gaming sector is presenting remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 117.5 Billion by 2028, expanding at a CAGR of 67.40% during 2023-2028.
- On the basis of the game type, the market has been divided into role playing, open world, and collectible games. Among these, role playing games is the most popular segment.
- Based on the platform, the market is classified into ETH, BNB chain, and polygon. Currently, ETH platform dominates the market, holding the largest market share.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. At present, Asia Pacific is the leading market for blockchain gaming.
- The competitive landscape of the market has also been examined, with some of the key players being Animoca Brands Corporation Limited, Dapper Labs Inc., double jump.tokyo Inc., Illuvium, Immutable Pty Ltd., Mythical Inc, Sky Mavis, Uplandme Inc, WeMade Co. Ltd., etc.
|Base Year of the Analysis
|Game Types Covered
||Role Playing Games, Open World Games, Collectible Games
||ETH, BNB Chain, Polygon
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Animoca Brands Corporation Limited, Dapper Labs Inc., double jump.tokyo Inc., Illuvium, Immutable Pty Ltd., Mythical Inc, Sky Mavis, Uplandme Inc, WeMade Co. Ltd., etc.
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