Worldwide Blockchain Gaming Market Size/Share Cap Forecast to Reach USD 1,020.02 Billion by 2032, Growing at 68.9% CAGR: Polaris Market Research

[115+ Pages Research Study] According to Polaris Market Research, the global blockchain gaming market Size and share was valued at USD 5.41 billion in 2022 and is forecast to grow at a CAGR of 68.9%, to reach USD 1,020.02 billion by 2032. Increasing investments are expected to accelerate market expansion. A growing number of gaming companies and developers are working with blockchain platforms as blockchain technology continues to transform the gaming industry. Some of the key players covered are Sky Mavis, Mythical Games, Dapper Labs, Open Sea, Voxie Tactics, Rokosoft, Gamestation, Pocket Arena, Planet Sandbox, Splinterlands, Animoca Brands and others.

New York, NY, March 09, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Blockchain Games Market Share, Size, Trends, Industry Analysis Report, By Game Type (Collection Games, RPGs, Open World Games); By Platform; By Region; Segment Forecast, 2023-2032” in its research database.

“According to the latest research study, the global blockchain market size and share is expected to be valued at approximately USD 5.41 billion in 2022 and is projected to reach a revenue of around USD 1,020.02 billion by 2032on a CAGR of around 68.9% between 2023 and 2032.”

What is Blockchain in Gaming? How big is Blockchain in the gaming market?

Blockchain is a decentralized collection of data bits controlled by a large computer network. These data units are connected using encryption. They can record information using cryptography. It has produced a completely new gaming experience for both players and businesses that use NFTs and cryptocurrencies to purchase in-game assets that can be exchanged for cryptocurrency and real money. Blockchain offers enhanced security, protecting sensitive information, such as preventing tampering or hacking of user transactions, game data and player information.

The story continues

Blockchain seems to have a promising future in the gaming sector. Web3 games will transform the gaming industry by giving users control over their gaming resources and the ability to make decisions. The increase in investment in blockchain games is expected to drive market growth. More gaming companies and developers are partnering with blockchain platforms as blockchain technology transforms the gaming industry. Such collaborations are expected to accelerate the size of the blockchain gaming market.

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(The selection of this report is readily available upon request. The sample report includes a brief introduction to the research report, a table of contents, a graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Our sample report may include:

• 2032 Updated report introduction, overview and in-depth industry analysis.

• 115+ page research report (inclusion of updated research).

• Provide chapter-wise guidance on requests.

• 2023 Updated regional analysis with graphical representation of size, share and trends

• Includes updated list of tables and figures.

• Updated report includes top market players with their business strategy, sales volume, and revenue analysis.

Highlights of the report

• Comprehensive information about the product portfolios of the best players in the market.

• A thorough assessment of the geographic and business segments in the market.

• Market segmentation on the basis of type of product, application and region.

• It provides a forward-looking perspective on the developing elements that drive or control the business area’s development.

• The latest research and development projects carried out by each key player.

• A thorough analysis of the market’s value chain and assess the effect of Porter’s five forces.

Some of the top market players are:

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Market dynamics

Important growth driving factors

Blockchain-based games are popular because they are easy to access online and on mobile devices, which is driving the growth of the market. The increasing shift from traditional games to blockchain-based games is expected to increase the demand in the blockchain games market. Unlike traditional games, blockchain allows players to use digital assets in the game. Thus, decentralized gaming becomes more popular among players, increasing market expansion. Several bitcoin gaming companies offer in-game rewards and goods that players can access. With blockchain games, there are various real-world methods for players to make money. The Play-To-Earn (P2E) model is an example of this approach.

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Recent trends affecting the market

An increase in initiatives to promote technology adoption is likely to fuel industry expansion

• Real-time ownership of items, improved game security and the ability for players to get real rewards are some benefits of adopting blockchain in games. This is one of the key factors supporting the growth of the blockchain gaming market.

• Several initiatives support and encourage innovative cryptocurrency gaming companies to accelerate technology adoption worldwide, which in turn drives industry expansion. Animoca Brands and Binance Smart Chain have partnered to accelerate technology adoption globally, which then fuels business growth.

Segment analysis

By game type blockchain game market segmentation, the role-playing game category is likely to register the fastest growth over the forecast period. In role-playing games (RPGs), participants adopt the identity of a fictional character who develops in a complex world. Like an actor in a video game, a player in an RPG takes on the character of the character they control. In this game type, players can also earn Ethereum currency to be rewarded for their achievements, such as completing tasks, figuring out puzzles, and winning events.

In terms of platform, the ETH category is predicted to record the major blockchain game market share in 2022. The ETH platform is used by game creators because it reduces security risks and enables companies to verify that their customers’ money and data are safe. CryptoKitties was the first blockchain game built on the Ethereum network. Players can create, sell, and buy NFTs using in-game Ethereum. Furthermore, Axie Infinity, Gods Unchained, Decentraland, The Sandbox and CryptoKitties are some other famous games that use the ETH blockchain platform.

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Blockchain Gaming Market: Report Scope

Geographic overview

Based on geography, the blockchain gaming market in Asia Pacific is estimated to generate significant growth and market share in 2022. The increasing number of new players and investments by various global market players are driving the market growth in the region. In November 2021, the Asia Blockchain Gaming Alliance was formed to encourage blockchain gaming in Asia. ABGA increased the development of the industry ecosystem.

Moreover, the favorable government blockchain policy is conducive to the blockchain gaming business in Asia Pacific, promoting industry expansion. Japan, for example, is introducing blockchain-friendly regulations. For cryptocurrency storage providers, the Japan Cryptocurrency Industry Association has released new rules.

Browse the detail report “Blockchain Games Market Share, Size, Trends, Industry Analysis Report, By Game Type (Collection Games, RPGs, Open World Games); By Platform; By Region; Segment Forecast, 2023-2032” with detailed table of contents: /industry-analysis/blockchain-gaming-market

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Recent developments

• In October 2022, a strategic investment from Animoca Brands was revealed by Cool Cats Group. In this collaboration, Animoca Brands will help Cool Cats become a recognized NFT brand worldwide.

Important questions answered by report

• What is the current size of the market?

• What are the names of the key players working in the market?

• What are trending strategies used by marketing companies to expand their businesses?

• What are the key regions of the market?

• Which region of the market is expected to show promising expansion opportunities during the assessment period?

• What is the projected size of the market at the end of the forecast period?

• What opportunities and threats are the players exposed to in the market?

Polaris Market Research has segmented the blockchain gaming market report based on game type, platform and region:

By game type Outlook

• collectible games,

• role play,

• Open World Games

By platform Outlook

• ETH

• BNB chain

• Polygon

• Others

By Region Outlook

• North America (USA, Canada)

• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)

• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)

• Latin America (Brazil, Mexico, Argentina)

• Middle East and Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris market research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across various businesses. We at Polaris are committed to serving PMR’s diverse customer base that is present across industries in healthcare, technology, semiconductors and chemicals among various other industries found around the world. We strive to provide PMR’s clients with up-to-date information on innovative technologies, high-growth markets, emerging business environments and the latest business-centric applications, thereby helping them to always make informed decisions and exploit new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts consisting of SMEs, analysts and consultants, we at Polaris try to deliver value-added business solutions to PMR’s customers.

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