The global blockchain gaming market is expected to rise to $614 billion by 2030, driven by regional growth and evolving game types.
This forecast, detailed in an extensive analysis by Fortune Business Insights, reflects a compound annual growth rate of 21.8%. The report’s research on sales data from 2017 to 2021 underlines this trend, predicting an absolute growth rate over the six-year period of almost 299%.
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North America is leading this expansion, contributing more than $30 billion by 2022, which is about 24% of the total, according to the report. The dominance is not expected to wane as the region is expected to remain a leader in blockchain gaming asset purchases.
Role-playing games (RPGs) are seen as the fastest growing category in the blockchain gaming market. The report highlights their appeal as special characters, themes, additional weapons, accessories and other features make RPGs particularly suitable for blockchain integration. In 2022, RPGs represented more than 33% of the market.
Currently, web-based games dominate the blockchain gaming landscape, but the report notes a significant shift towards Android-based games. This trend indicates a diversification of the platforms players prefer.
To improve the user experience, companies like Immutable are innovating; on December 11, the company added Transak to facilitate purchases. However, according to a recent study by CoinGecko, more than 75% of blockchain games launched between 2018 and 2023 failed, highlighting the volatility and risk inherent in this emerging market.
Read more: Venture Capitalist: Blockchain Is Not Ready for Mainstream Gaming