FameEX Hot Topics | Projected Value of the Global Blockchain Gaming Market to Exceed $300 Billion by 2030

The global blockchain gaming market is poised for significant growth over the next seven years, with a projected market cap of $301.53 billion by 2030, as stated in a report by Grand View Research, a reputable markets and intelligence firm. This surge in value can be attributed to the transition from traditional gaming to blockchain-based alternatives. According to the report titled "Blockchain In Gaming Market Size," the shift towards blockchain gaming is driven by the desire for ownership of in-game assets, increased transparency, and opportunities for monetization. These unique features of blockchain gaming are expected to fuel the sector's growth at an impressive compound annual growth rate (CAGR) of 68.3% from 2023 to 2030.

The rise of gaming metaverses, virtual environments where players can interact and participate in various activities, is expected to play a significant role in enticing gamers to embrace blockchain-based alternatives. The COVID-19 pandemic has also contributed to the growing demand for immersive gaming experiences, further promoting the integration of metaverse functions into the blockchain gaming sector. Furthermore, the inclusion of decentralized finance (DeFi) elements within games is anticipated to drive growth in the market. The report suggests that players will have the ability to monetize their gaming sessions and channel their earnings into DeFi protocols, facilitating additional avenues for monetization.

While the blockchain gaming market is currently smaller in comparison to the overall gaming industry, valued at nearly $92 billion in 2022, the report expects continuous expansion. Traditional AAA game companies have shown limited involvement in blockchain gaming thus far, with Square Enix and Ubisoft leading the charge. Square Enix, for instance, incorporated blockchain technology into its business program in 2021 and has plans to launch several 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, reporting mixed results.

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 to early testers. Steve Allison, an executive at Epic Games, noted that a few of these games have performed well, 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.