Shift from traditional games to blockchain-based gaming sectors

Global Blockchain Gaming Market

Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) — “Blockchain Games Market by Game Type (RPG, Open World, Multiplayer), Platforms (ETH, BNB Chain, Polygon) and Region (North America, Europe, Asia-Pacific , Rest of the World) – The Global Forecast to 2027” report has been added ResearchAndMarkets.com’s Offering.

The global blockchain gaming market is estimated 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. One of the factors driving the market growth is increasing funding for blockchain games.

By game type, role-playing games account for the highest market share in the forecast period

The P2E game model works on blockchain, crypto and NFTs to transform the traditional free-to-earn concept into P2E. Role-playing games (RPGs) are actively played all over the world, and these games have always been a trendy genre in the industry. In these games, players directly control characters while participating in real-time combat, and players can earn NFTs and crypto rewards while playing these games. Role-playing games have a number of sub-genres, such as action-oriented role-playing games and turn-based role-playing games. Role-playing games allow users to enjoy unique gaming experiences with in-game weapons, avatars and skills.

Unlike traditional games, RPG games are integrated with in-game assets, such as NFTs, skins, weapons, and others. The various sub-genres of RPG games such as action-based, multiplayer and others make them very popular among the masses. In an RPG game, players assume the roles of characters in a fictional setting.

It is the players’ responsibility to act out these roles in a narrative. It can be through literal action or through a process of structured decision-making regarding character development. In these games, players need to acquire more and better weapons or similar items to improve their character, which is why RPGs on the blockchain are heavily connected to NFTs. Axie Infinity, Binemon, Blanko’s Block Party, My Crypto Heroes and Lost Relics are some of the famous blockchain based RPG games.

The story continues

By platform, BNB Chain will grow at the highest CAGR during the forecast period

According to Binance, BNB Chain dominated the blockchain gaming sector with a market share of 36.6% – meaning it has the highest number of games built on the chain. The blockchain gaming space is growing at an alarming rate. The average daily UAW transactions on the BNB chain increased by 8% month-over-month to more than 92,000 in August 2022. Such trends have made the BNB Chain gain rapid traction in the market, and this blockchain platform is expected to grow on it highest CAGR during the forecast period.

BNB Chain has collaborated with many companies to increase its presence in the market. For example, in September 2022, BNB Chain partnered with Google Cloud. This collaboration will help accelerate early-stage Web3 and blockchain startups to create and scale high-performance, efficient and sustainable innovations. These initiatives to boost Web3 and blockchain startups can help the blockchain gaming market.

Market dynamics

Drivers

• Advantages of Blockchain technology

• Increase investment and funding in blockchain games

• Shift from traditional games to blockchain-based games

Limitations

Possibilities

Challenges

Key topics covered:

1. Introduction

2 Research methodology

3 Summary

4 Premium Insights

5 Market overview and industry trends

6 Blockchain Gaming Market, by Architecture
6.1 Introduction
6.2 Decentralized Monolithic
6.3 Decentralized layered architecture
6.4 Hybrid architecture

7 Blockchain Gaming Market, by Game Type
7.1 Introduction
7.2 Role playing
7.3 Open World Games
7.4 Collection games

8 Blockchain Gaming Market, by Platform
8.1 Introduction
8.2 Eth
8.3 Bnb chain
8.4 Polygon
8.5 Other Platforms

9 Blockchain Gaming Market, by Region

10 Competitive landscape

11 Company profiles

12 adjacent markets

13 Appendix

Companies mentioned

For more information on this report visit https://www.researchandmarkets.com/r/1brdh

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