(MoneyNewsWire.Net, January 10, 2023 ) 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. The market growth is driven by increased funding for blockchain games.
Browse in-depth TOC on "Blockchain Gaming Market by Game Type (Role Playing Games, Open World Games, Collectible Games), Platforms (ETH, BNB Chain, Polygon), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027"
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By Platform, BNB Chain to 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 rebranded into the BNB Beacon Chain. Binance Smart Chain changed its name to BNB Smart Chain but maintained 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, BNB Chain community has made technical upgrades over the past few years. The chain and its apps can be accessed by users without permission, provided that they have a crypto wallet and some BNB to pay for fees. It gives developers the tools to implement cutting-edge smart contracts and dApps. It supports quick, inexpensive, 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 operations. Era7, Chain of Legends, Tiny World, BinaryX, 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 existing game developers and new creatives alike coming up, the Asia Pacific region is one of the key markets in blockchain gaming. There are approximately 3 billion gamers worldwide. Out of this, Asia Pacific accounts for almost half of it. In the popularization of professional gaming culture, a dominant role has been played by the Asian eSports business. Besides the original gaming giants Korea and China, several countries are now beginning to expand their influence in the sector. This expansion is being carried out through active measures and investments in related infrastructure. Global investing firms are reviewing the market’s economic potential as several Asia Pacific countries plan to grow their eSports industry. Due to the existing interest in gaming in the region, Southeast Asia is quickly developing as a blockchain gaming hub for the community. With the rise of crypto and NFTs, Blockchain gaming is also expanding in the Asia Pacific region.
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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).
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