[115+ Pages Research Study] According to Polaris Market Research, the global blockchain gaming market Size & share was valued at USD 5.41 Billion in 2022 and is predicted to increase at a CAGR of 68.9%, to reach USD 1,020.02 Billion by 2032. Rising investments are anticipated to accelerate market expansion. A growing number of game companies and developers are working with blockchain platforms as blockchain technology continues transforming the gaming industry. Some of the key players covered are Sky Mavis, Mythical Games, Dapper Labs, Open Sea, Voxie Tactics, Rokosoft, Gamestation, Pocket Arena, Planet Sandbox, Splinterlands, Animoca Brands and others.
New York, NY, March 09, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Blockchain Gaming Market Share, Size, Trends, Industry Analysis Report, By Game Type (Collectible Games, Role Playing Games, Open World Games); By Platform; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research study, the global blockchain gaming market size & share is anticipated to be valued at approximately USD 5.41 Billion in 2022 and is projected to hit a revenue of around USD 1,020.02 Billion By 2032, at a CAGR of around 68.9% between 2023 and 2032.”
What is Blockchain in Gaming? How Big is Blockchain in Gaming Market?
Blockchain is a decentralized collection of data chunks controlled by a large computer network. These data units are connected by means of encryption. They can record information with the aid of cryptography. It has produced a brand-new gaming experience for both gamers and businesses who utilize NFTs and cryptocurrencies to buy in-game assets that could be exchanged for cryptocurrency and real-life money. Blockchain offers enhanced security, protecting sensitive information, such as preventing tampering with or hacking user transactions, game data, and player information.
Blockchain seems to have a promising future in the gaming sector. Web3 gaming will transform the game industry by giving users control over their gaming assets and the ability to make decisions. The increase in investments in blockchain games is anticipated to drive market growth. Several game companies and developers make collaborations with blockchain platforms as blockchain technology transforms the gaming industry. Such collaborations are expected to accelerate the blockchain gaming market size.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Highlights of The Report
- All-inclusive information on the product portfolios of the top players in the market.
- An in-depth assessment of the geographic and business segments of the market.
- Market segmentation on the basis of the type of product, application, and region.
- It offers a forward-looking perspective on the developing elements driving or controlling the business area’s development.
- The recent research and development projects performed by each key player.
- A thorough analysis of the market’s value chain and assess the effect of Porter’s five forces.
Some of the Top Market Players Are:
- Sky Mavis
- Mythical Games
- Dapper Labs
- Open Sea
- Voxie Tactics
- Pocket Arena
- Planet Sandbox
- Animoca Brands
- AlwaysGeeky Games
- G.JIT Japan
- Horizon Blockchain Games Planetarium
- Codebit Labs
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Key Growth Driving Factors
- Increasing the use of blockchain-based games over traditional ones to push the market growth
Blockchain-based games are popular because they are simple to access online and on mobile devices, which is propelling the growth of the market. The rising shift from traditional games to blockchain-based games is expected to enhance the blockchain gaming market demand. Unlike traditional games, blockchain enables players to use in-game digital assets. Thus, decentralized gaming is becoming more popular with players, accelerating market expansion. Several bitcoin gaming ventures offer rewards and in-game goods that players can access. With blockchain games, there are various real-world methods for players to profit. The Play-To-Earn (P2E) model is an example of this approach.
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Recent Trends Influencing the Market
A surge in initiatives to promote technology adoption is likely to flourish the industry expansion
- Real-time ownership of items, improved game security, and the possibility for players to gain genuine rewards are some benefits of adopting blockchain in gaming. This is one of the key factors supporting the blockchain gaming market growth.
- Several initiatives support and encourage innovative cryptocurrency gaming companies to accelerate technology adoption worldwide, which in turn drives industry expansion. Animoca Brands and Binance Smart Chain have partnered together in order to accelerate the adoption of technology globally, which then fuels business growth.
- Role-playing game segment is anticipated to grow at the fastest rate
By game type blockchain gaming market segmentation, the role-playing game category is likely to register the fastest growth over the forecast period. In role-playing games (RPGs), participants adopt the identity of a fictional character who develops in a made-up world. Similar to an actor in a video game, a player in a role-playing game takes on the character of the character they are controlling. Also, in this game type, players can earn Ethereum currency to be rewarded for their achievements, such as for completing tasks, figuring out puzzles, and winning events.
- ETH segment witnessed the second-largest revenue share in 2022
In terms of platform, the ETH category is predicted to register the major blockchain gaming market share in 2022. The ETH platform is used by game creators because it reduces security risks and enables companies to confirm that the money and data of their customers are secure. CryptoKitties was the first blockchain game built on the Ethereum network. Players can make, sell, and buy NFTs using Ethereum in the game. Further, Axie Infinity, Gods Unchained, Decentraland, The Sandbox, and CryptoKitties are some additional well-known games that use the ETH blockchain platform.
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Blockchain Gaming Market: Report Scope
|Revenue forecast in 2032||USD 1,020.02 Billion|
|Market size value in 2023||USD 9.12 Billion|
|Expected CAGR Growth||68.9% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||Sky Mavis, Mythical Games, Dapper Labs, Open Sea, Voxie Tactics, Rokosoft, Gamestation, Pocket Arena, Planet Sandbox, Splinterlands, Animoca Brands, Wemade, AlwaysGeeky Games, G.JIT Japan, Immutable, Horizon Blockchain Games Planetarium, Codebit Labs, Binamon.|
|Segments Covered||By Game Type, By Platform, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
- The demand in Asia Pacific is estimated to grow at a significant rate
On the basis of geography, the blockchain gaming market in the Asia Pacific is projected to generate significant growth and market share in 2022. The rising number of new gamers and investments from various global market players fuel the market growth in the region. In November 2021, The Asia Blockchain Gaming Alliance was formed to encourage blockchain gaming in Asia. ABGA boosted the development of the industry's ecosystem.
Moreover, the favorable government blockchain policies contribute to the blockchain gaming business in the Asia Pacific, fostering industry expansion. For example, Japan is introducing blockchain-friendly regulations. For cryptocurrency custody providers, the Japan Cryptocurrency Industry Association has released new rules.
Browse the Detail Report “Blockchain Gaming Market Share, Size, Trends, Industry Analysis Report, By Game Type (Collectible Games, Role Playing Games, Open World Games); By Platform; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/blockchain-gaming-market
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- In October 2022, A strategic investment from Animoca Brands was disclosed by Cool Cats Group. In this collaboration, Animoca Brands will assist Cool Cats in becoming a recognized NFT brand worldwide.
Important Questions Answered by Report
- What is the present size of the market?
- What are the names of key players working in the market?
- What are trending strategies utilized by market enterprises to expand their businesses?
- What are key regions of the market?
- Which region of the market is expected to show promising expansion avenues in the assessment period?
- What is the projected size of the market at the end of the forecast period?
- What are the opportunities and threats to which players are exposed in the market?
Polaris Market Research has segmented the blockchain gaming market report based on game type, platform, and region:
By Game Type Outlook
- Collectible Games,
- Role Playing Games,
- Open World Games
By Platform Outlook
- BNB Chain
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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