“The global blockchain gaming market is estimated 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%.”

NEW YORK , Dec. 20, 2022 /PRNewswire/ — The global blockchain gaming market is projected to grow from US$4.6 billion in 2022 to US$65.7 billion by 2027 at a compound annual growth rate (CAGR) of 70.3% in during the forecast period. One of the factors driving the market growth is increasing funding for blockchain games.

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• By game type, role-playing games should account for the highest market share in the forecast period

The P2E game model works on blockchain, crypto and NFTs to transform the traditional free-to-earn concept into P2E.Role Playing Games (RPGs) are actively played all over the world and these games have always been a trendy genre in industry.

In these games, players directly control characters while engaging in real-time combat, and players can earn NFTs and crypto rewards while playing these games. RPG games have a number of subgenres, such as action-oriented role-playing games and turn-based role-playing games.

Role-playing games allow users to enjoy unique gaming experiences with in-game weapons, avatars and skills. Unlike traditional games, RPG games are integrated with in-game assets, such as NFTs, skins, weapons, and others.

The various sub-genres of RPG games such as action-based, multiplayer and others make them very popular among the masses. In an RPG game, players assume the roles of characters in a fictional setting. It is the players’ responsibility to act out these roles in a narrative. It can be through literal action or through a process of structured decision-making regarding character development. In these games, players need to acquire more and better weapons or similar items to improve their character, which is why RPGs on the blockchain are heavily connected to NFTs. Axie Infinity, Binemon, Blanko’s Block Party, My Crypto Heroes and Lost Relics are some of the famous blockchain based RPG games.
• By platform, BNB Chain will grow at the highest CAGR during the forecast period

According to Binance, BNB Chain dominated the blockchain gaming sector with a market share of 36.6% – meaning it has the highest number of games built on the chain. The blockchain gaming space is growing at an alarming rate. The average daily UAW transactions in the BNB chain increased by 8% month-over-month to more than 92,000 in August 2022. Such trends have made the BNB Chain quickly gain traction in the market, and this blockchain platform is expected to grow at the highest CAGR during the forecast period.
BNB Chain has collaborated with many companies to increase its presence in the market. For example, in September 2022, BNB Chain partnered with Google Cloud.

This collaboration will help accelerate early-stage Web3 and blockchain startups to create and scale high-performance, efficient and sustainable innovations. These initiatives to boost Web3 and blockchain startups can help the blockchain gaming market.

Distribution of primary participants:
• By company type: Level 1 = 40%, Level 2 = 35% and Level 3 = 25%
• By designation: C-level executives = 40%, directors = 35% and others = 25%
• By Region: North America = 30%, Europe = 20%, Asia Pacific = 45%, Rest of World = 5%

Major vendors in the global blockchain gaming market include Sky Mavis (Vietnam), Splinterland (USA), 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 (USA), Lucid Sight (USA), Rokosoft (Istanbul), Horizon Blockchain Games (Canada), Xaya (Malta), Planetarium (South Korea), Binamon (Argentina) and Codebit Labs (Australia ) ).
The study includes an in-depth competitive analysis of the key players in the blockchain gaming market, with their company profiles, recent developments, and key market strategies.

Research coverage:
The report segments blockchain games by game type (role-playing games, open-world games, and collectible games), platforms (ETH, BNB chain, Polygon, and other platforms), and region (North America, Europe, Asia-Pacific, and Rest of the World).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments and key market strategies.

Key benefits of purchasing the report:
The report will help the market leaders/new entrants in this market with information about the nearest approaches to the revenue figures of the overall blockchain gaming market and sub-segments. It will help stakeholders understand the competitive landscape and gain more insight to position their businesses. better and plan appropriate go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges and opportunities.

Read the full report: https://www.reportlinker.com/p06373922/?utm_source=PRN

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