According to research published by Fortune Business Insights, the global Blockchain-based gaming market is expected to reach a market value of approximately $614 billion over the next six years. Currently valued at $154 billion, the market is projected to grow nearly fourfold by 2030, approaching a level close to Bitcoin‘s market value of $800 billion.
The study analyzed global sales figures for Blockchain-based gaming products between the years 2017-2021 and found an annual compound growth rate of 21.8%, predicting that it will exceed $600 billion by 2030. This corresponds to an approximate absolute growth rate of 400% over a six-year period.
Researchers divided the world into five regions: North America, South America, Middle East/Africa, Europe, and Asia Pacific. According to the study, North America held the largest share of Blockchain-based in-game item purchases in 2022 (over $30 billion), or about 24% of the total. Researchers expect North America to continue to increase its dominance in the market.
The report highlights that among the offered gaming categories, role-playing games (RPGs), especially those featuring unique characters, themes, additional weapons, accessories, and other special features, will have the highest growth rate compared to other categories. Researchers noted that RPGs accounted for over 33% of the market share in 2022.
On the other hand, it is observed that companies producing Blockchain-based games are starting to implement new features to facilitate the recruitment process. For example, Immutable added Transak as an additional option for purchases on December 11th. However, not everything is running smoothly for the entire Blockchain-based gaming sector. According to a study published by CoinGecko, more than 75% of Blockchain-based games released between 2018 and 2023 failed.