Blockchain gaming set to explode: market expected to reach $65.7B by 2027
Get ready for the future of gaming: blockchain market set to grow at a CAGR of 70.3%
Blockchain gaming is set to explode in popularity over the next five years, according to a new report by MarketsandMarkets. The revenue impact and advisory company predicts that the market will reach a staggering $65.7 billion by 2027, with a CAGR of 70.3% over the forecast period.
The report highlights the increase in investments and funding in blockchain games as a key driver of market growth, along with the rising popularity of the play-to-earn model and the growth of NFTs. BNB Chain is expected to see the highest CAGR growth of any platform during the forecast period.
Ethereum (ETH) is expected to have the largest market size during the forecast period, thanks to major blockchain games on the platform such as CryptoKitties, The Sandbox, Gods Unchained, My Crypto Heroes, and Battle Leet. The Asia Pacific region is expected to account for the largest market size over the next five years, with Southeast Asia quickly becoming a hub for blockchain gaming.
The current market size for blockchain gaming is $4.6 billion, but this is expected to rapidly increase over the next five years. The report by MarketsandMarkets suggests that the Asia Pacific region will be the driving force behind this growth, with around half of the world's 3 billion gamers located in the region.
Southeast Asia is particularly interesting for the blockchain gaming community, with the report identifying it as a quickly developing hub for the industry. The region's current interest in blockchain gaming is expected to fuel growth and drive the market forward.
In addition to the growth of the Asia Pacific region, the report also highlights the importance of key players in the blockchain gaming market. BNB Chain is expected to see the highest CAGR growth of any platform during the forecast period, while the Ethereum (ETH) segment is expected to have the largest market size.
With increasing investments and funding, the rise of the play-to-earn model, and the growth of NFTs, the market is set to reach new heights over the next five years. Gamers around the world will be excited to see what the future holds for this exciting industry.
Gamers around the world will be excited to hear that the future looks bright for blockchain gaming. With a wealth of exciting developments on the horizon, now is the perfect time to get involved in this growing market. Be sure to check out the full 155-page report on the MarketsandMarkets website to get all the latest details.