The gaming sector is set to be worth $340 billion by 2027 as the crypto sector evolves
Gaming is gradually gaining attention in the crypto space. The use of blockchain in the development of some gaming platforms is increasing as more people now embrace virtual assets. Non-fungible tokens (NFT) have also acted as the catalyst to accelerate user engagement in virtual games.
While considering the trend in the gaming industry, which is tilting towards the use of digital assets, Tripple A provided shocking data.
According to the latest ownership data of Triple A, there will be an increase in digital assets spreading on virtual games. The data indicated that over 48.6% of cryptocurrency owners would engage in such spending in the future.
Triple A data on games
The value that Triple A data cited has shocked the digital community. Over 25.1% of assets registered last year used digital assets for online gaming. The data noted that over the past few years, there has been an increase in online gaming and gambling. It also expects a more significant increase in the gaming market by 2027, as it could reach $340 billion.
As for gamers worldwide, it is a shocking record that they made up a third of the global population. The digital currency space now has some prominent gaming companies such as Twitch, Microsoft Xbox and G2A.
Additionally, some online gaming streamers have significantly impacted crypto gambling by joining the digital space. As a result, the overall impact over the past year has attracted more audiences even as controversies increase.
Digital assets as a payment option in the gaming industry have also changed some processes. More organizers and players are moving with the new trend, which has increased the acceptance of digital assets. Moreover, a future prediction creates wider market opportunities for gaming companies.
In addition to the gaming industry, other sectors are accepting digital assets. These include remittances, e-commerce and luxury goods. The use of digital assets in remittances is gradually taking over traditional measures. Crypto transfer turns out to be 127 times cheaper and 388 times faster than conventional alternatives.
Triple A’s data further revealed the top 5 nations with the highest number of crypto holders. These are the US, Pakistan, Vietnam, Nigeria and India, with the US having over 46 million token holders.
Analysis of growth and performance of the crypto sector
In addition, Triple A data used Bitcoin analysis to estimate the potential profitability that awaits the gaming industry. The data captured that the leading global cryptocurrency represents approximately 47% of the total crypto market capitalization in 2021.
Bitcoin also experienced an increase of around 540,000% from 2012 to 2021. The data also examined the crypto market’s compound annual growth rate (CAGR). The forecast for 2019 to 2025 places the CAGR at 56.4%.
Featured image from Pixabay, chart from TradingView.com
