The global blockchain gaming market 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%

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Dec 21, 2022, 10:30 ET

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- The global blockchain gaming market 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. One of the factors driving the market growth is rising funding for blockchain games.

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â€¢ By game type, role-playing games to account for the highest market share during the forecast period

P2E gaming 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 engaging in real-time combat, and players can earn NFTs and crypto rewards while playing these games.RPG games have a variety of subgenres, such as action-oriented RPGs and turn-based RPGs.

RPG games empower users to enjoy unique game 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 different subgenres of RPG games, such as action-based, multiplayer, and others, make them widely popular among the masses. In an RPG game, players assume the roles of characters in a fictional setting. It's the responsibility of players to act out these roles within a narrative. It can be through literal acting 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 strongly connect with NFTs. Axie Infinity, Binemon, Blankos Block Party, My Crypto Heroes, and Lost Relics are some of the famous blockchain-based RPG games.
â€¢ By platform, BNB Chain to grow at the highest CAGR during the forecast period

As per Binance, BNB Chain dominated the blockchain gaming sector with a 36.6% market share â€" that is, 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 soared by 8% month-over-month to more than 92,000 in August 2022. Such trends have made BNB Chain gain quick traction in the market, and this blockchain platform is expected to grow at the highest CAGR during the forecast period.
BNB Chain has been collaborating with many companies to grow its presence in the market.For example, in September 2022, BNB Chain collaborated with Google Cloud.

This collaboration will help accelerate early-stage Web3 and blockchain startups to create and scale high-performance, effective, and sustainable innovations. These initiatives to boost Web3 and blockchain startups could help the blockchain gaming market.

Breakdown of primary participants:
â€¢ By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
â€¢ By Designation: C-Level Executives = 40%, Directors = 35%, and Others = 25%
â€¢ By Region: North America = 30%, Europe = 20%, Asia Pacific = 45%, Rest of World = 5%

Major vendors in the global blockchain gaming market include Sky Mavis (Vietnam), Splinterlands (US), Animoca Brands (Hong Kong), Wemade (South Korea), Dacoco (Switzerland), Dapper Labs (Canada), Immutable (Australia), Uplandme (US), AlwaysGeeky Games (Canada), Decentraland Foundation (China), Mythical Games (US), Illuvium (Australia), Sorare (France), PopCap Games (US), G.JIT Japan (Japan), Double Jump.Tokyo (Japan), Gala Games (US), Lucid Sight (US), Rokosoft (Istanbul), Horizon Blockchain Games (Canada), Xaya (Malta), Planetarium (South Korea), Binamon (Argentina), and Codebit Labs (Australia).
The study includes an in-depth competitive analysis of the key players in the blockchain gaming market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report segments blockchain gaming by game type (role playing games, open world games, and collectible games), platforms (ETH, BNB chain, Polygon, and other platforms), and region (North America, Europe, Asia Pacific, and Rest of World).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blockchain gaming market and the subsegments.It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p06373922/?utm_source=PRN

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