May 29, 2024
Forecast Shows Surge in Blockchain Game Market
Latest Cryptocurrency News

Global Blockchain Gaming Market Set to Skyrocket to $614 Billion by 2030

According to an analysis by Fortune Business Insights released on December 11, the global blockchain gaming market is projected to reach approximately $614 billion in the next seven years, with current spending estimated at around $154 billion. The report scrutinized sales data of blockchain game products worldwide from 2017 to 2021 and noted a compound annual growth rate (CAGR) of 21.8%. This growth trajectory indicates a potential market size of $600 billion by 2030, representing a nearly 299% increase over the past six years.

Fortune’s researchers segmented the world into five regions: North America, South America, the Middle East and Africa, Europe, and Asia Pacific. In 2022, North America led in blockchain game item purchases, accounting for over $30 billion, or approximately 24% of the total. The researchers anticipate that this dominance will persist over time.

Regarding game categories, the report forecasts that role-playing games will experience the highest growth rate due to their incorporation of blockchain features, attributing this growth to their special characters, themes, additional weapons, accessories, and other features. These games represented more than 33% of the market in 2022.

Web-based blockchain games currently hold the largest segment in the market, with expectations to maintain dominance in the future. However, Android-based games are progressively gaining traction. To facilitate easier onboarding, blockchain gaming companies have introduced new features. For instance, on December 11, Immutable included Transak as an additional purchase option.

Despite the overall positive outlook, not all news in the blockchain gaming sector is favorable. A study by CoinGecko on November 30 revealed that over 75% of blockchain games launched between 2018 and 2023 have been unsuccessful.

Image by freepik

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