Blockchain Gaming Market Worth $65.7 Billion by 2027
CHICAGO , 13 December 2022 /PRNewswire/ — The global Blockchain gaming market size is projected to grow from USD 4.6 billion in 2022 to USD 65.7 billion by 2027 at a compound annual growth rate (CAGR) of 70.3% during the forecast period, according to a new report from MarketsandMarkets™. Market growth is driven by increased financing of blockchain games.
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By platform, BNB Chain will grow at the highest CAGR during the forecast period
IN February 2022–Binance Chain and Binance Smart Chain merged to form the BNB chain. Binance Chain also transformed into BNB Beacon Chain. Binance Smart Chain changed its name to BNB Smart Chain, but kept its abbreviation, BSC. The Binance blockchain ecosystem is rapidly being adopted in the Web3 gaming space, also called GameFi. BNB Chain has grown to become a community-driven, permissionless and decentralized blockchain ecosystem. To offer progressive decentralization, the BNB Chain community has made technical upgrades in recent years. The chain and its apps can be accessed by users without permission, provided they have one crypto wallet and some BNB to pay fees. It provides developers with tools to implement cutting-edge smart contracts and dApps. It supports fast, affordable and efficient DeFi transactions. BNB Smart Chain and Ethereum use a gas model for transaction fees, which measures the complexity of a single transaction. BNB Smart Chain has cheaper transaction fees and faster operation. Era7, Chain of Legends, Small worldBinaryX and Elfin Kingdom are some of the famous games that use BNB Chain.
By region, Asia Pacific to account for the largest market size during the forecast period
With both existing game developers and new commercials coming up, will Asia Pacific the region is one of the key markets in blockchain gaming. There are approximately 3 billion players worldwide. Out of this, Asia Pacific accounts for almost half of it. In the popularization of professional gaming culture, the Asian eSports business has played a dominant role. Besides the original gaming giants Korea and China, several countries are now beginning to expand their influence in the sector. This expansion is carried out through active measures and investments in related infrastructure. Global investment companies assess the market’s financial potential as several Asia Pacific country plans to expand its eSports industry. Due to the existing interest in gaming in the region, Southeast Asia is rapidly developing as a blockchain gaming hub for the community. With the rise of crypto and NFTs, Blockchain games are also expanding i Asia Pacific region.
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Key players:
Large global suppliers Blockchain gaming market include Cloud Mavis (Vietnam), Splinterlands (USA), Animoca Brands (Hong Kong), we made (South Korea), Dacoco (Switzerland), Dapper Labs (Canada), immutable (Australia), Uplandme (US), AlwaysGeeky Games (Canada), Decentraland Foundation (China), Mythical Games (USA), Illuvium (Australia), Sorare (France), PopCap Games (USA), G.JIT Japan (Japan), Double Jump.Tokyo (Japan), Gala game (USA), Lucid Sight (USA), Rokosoft (Istanbul), Horizon Blockchain Games (Canada), Xaya (Malta), Planetarium (South Korea), Binamon (Argentina), and Codebit Labs (Australia).
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SOURCE Markets and Markets
