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The global blockchain gaming market is projected to grow remarkably in the coming years, reaching an estimated $614 billion by 2030. This analysis comes from a report published by Fortune Business Insights on December 11.
The current market size stands at an estimated $154 billion, indicating its significant potential for expansion, as per Crypto News.
Sales Analysis
The report analyzed sales data from 2017 to 2021, revealing that the compound annual growth rate (CAGR) of blockchain game product sales is 21.8%. This implies that the market is set to reach $600 billion by 2030, representing an astonishing absolute growth rate of almost 299% over six years.
Fortune Business Insights researchers divided the world into five regions: North America, South America, Middle East/Africa, Europe, and Asia Pacific. Among these regions, North America accounted for the largest share of blockchain game item purchases in 2022, exceeding $30 billion, equivalent to approximately 24% of the total market. Researchers anticipate that North America will maintain its dominance.
Cointelegraph reported that when it comes to game categories, the report highlights the expected significant growth of role-playing games compared to other categories. These games, characterized by their unique characters, themes, additional weapons, accessories, and other features, are well-suited for implementing blockchain functionalities. Role-playing games accounted for over 33% of the market in 2022.
Web-Based Dominance
Web-based blockchain games currently hold the largest market segment share, and this dominance is expected to continue. However, researchers also mention the industry's emerging prevalence of Android-based games.
Blockchain gaming companies have been actively incorporating new features to facilitate user onboarding. For instance, Immutable recently introduced Transak as an additional purchase option on December 11. These advancements aim to improve the accessibility and convenience of blockchain gaming platforms.
While the blockchain gaming industry shows immense potential, it also faces challenges. A study conducted by CoinGecko on November 30 reported that over 75% of blockchain games launched between 2018 and 2023 have failed. This highlights the need for constant innovation and adaptation to ensure long-term success.
