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Blockchain Gaming Market to be Worth $165.4 Billion by 2030

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Savi Bangar
Blockchain Gaming Market to be Worth $165.4 Billion by 2030

Meticulous Research®—a leading global market research company, published a research report titled, ‘Blockchain Gaming Market by Platform (Ethereum, Polygon, Solana, Cardano, EOS, Biance Smart Chain), Model (Free-to-play, Pay-to-play, Play-to-earn), Genre, and Geography - Global Forecast to 2030.’


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According to this latest publication from Meticulous Research®, the global blockchain gaming market is projected to reach $165.4 billion by 2030, at a CAGR of 51.7% from 2023 to 2030. The growth of this market is driven by the proliferation of player-driven economies, the increasing need for secured and transparent gaming environments for players, and growing investments and funding in blockchain gaming. Additionally, the 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 global blockchain gaming market is segmented by platform, model, and genre. The study also evaluates industry competitors and analyzes the market at the region/country level.


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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. The large market share of this segment is attributed due to its compatibility with various programming languages for flexible development options, robust token standards for creating and managing non-fungible tokens (NFTs), smart contract functionality and programmable in-game logic, and growing need for transparency, immutability, & seamless transfer of digital assets across games.


However, the Binance Smart Chain segment is projected to register the highest CAGR during the forecast period due to its lower transaction fees, higher transaction throughput, cross-chain asset transfers, seamless integration with other blockchain platforms and networks, and access to a broader range of players from different ecosystems.


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.

 

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Based on genre, the global blockchain gaming market is broadly segmented into action/adventure, sandbox, simulation and sports, role-playing, player vs. player, a 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, larger marketing campaigns, and greater market visibility for action/adventure games.


However, the role-playing segment is projected to register the highest CAGR during the forecast period due to its ability to create compelling and engaging gameplay experiences, expansive and open-world environments for players to explore, integration of augmented reality (AR)/virtual reality (VR) technology for immersive and interactive experiences, convenience and accessibility of playing RPGs on smartphones, incorporation of new game design elements to cater to changing player preferences and integration of online multiplayer features in RPGs.


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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 North America and Europe. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the increasing internet and smartphone penetration, supportive regulatory frameworks that provide clarity and guidance for blockchain gaming companies, growing interest in innovative gaming models, and growing esports market in countries including China, India, Japan, and South Korea.


Key Players:


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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