FameEX Hot Topics | Anticipated Growth: Global Blockchain Gaming Market Set to Surpass $300 Billion by 2030

A recent report by Grand View Research, a reputable markets and intelligence firm, reveals that the global blockchain gaming market is on the brink of substantial growth over the next seven years. The report projects a market cap of $301.53 billion by 2030, attributing this surge in value to the shift from traditional gaming to blockchain-based alternatives. The report, titled "Blockchain In Gaming Market Size," highlights several factors driving the transition towards blockchain gaming. These include the desire for ownership of in-game assets, increased transparency, and the potential for enhanced monetization. The unique features offered by blockchain gaming are expected to fuel the sector's growth with an impressive compound annual growth rate (CAGR) of 68.3% from 2023 to 2030.

One significant trend that is expected to entice gamers towards blockchain-based alternatives is the rise of gaming metaverses. These virtual environments allow players to interact and engage in various activities, creating immersive experiences. The COVID-19 pandemic has further accelerated the demand for such immersive gaming experiences, leading to the integration of metaverse functions into the blockchain gaming sector. Additionally, the inclusion of decentralized finance (DeFi) elements within games is anticipated to drive market growth. This means that players will have the opportunity to monetize their gaming sessions and utilize DeFi protocols to generate additional earnings. This integration of DeFi elements opens up new avenues for monetization within the blockchain gaming space.

While the blockchain gaming market is currently smaller in comparison to the overall gaming industry, valued at approximately $92 billion in 2022, the report predicts continuous expansion. Traditional AAA game companies have shown limited involvement in blockchain gaming thus far, but notable industry players like Square Enix and Ubisoft have taken the lead in embracing this technology. For example, Square Enix has incorporated blockchain technology into its business program since 2021 and has plans to launch various blockchain-related experiences this year, including Symbiogenesis, a narrative-driven non-fungible token (NFT) experience. Ubisoft has also introduced NFTs in some of its products, although results have been mixed.

Recent reports indicate that the Epic Games store, a popular PC game storefront, has nearly 20 blockchain games in the pipeline for release in 2023, with some already available for early testing. According to Steve Allison, an executive at Epic Games, some of these blockchain games have shown promising performance, according to Axios. As the blockchain gaming market continues to evolve and attract more players, its value is projected to experience remarkable growth. The transition from traditional gaming to blockchain alternatives, the rise of gaming metaverses, and the integration of DeFi elements are key factors that will contribute to the sector's expansion in the years to come.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.