Blockchain Gaming Market to be Worth $165.4 Billion by 2030

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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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).

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