Blockchain in Gaming Market Growth & Trends

According to a recent report by Grand View Research, Inc., the global blockchain in gaming market size is projected to reach USD 301.53 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 68.3% between 2023 and 2030. This rapid growth is largely driven by the ongoing transformation of the gaming industry, which is witnessing a substantial transition from conventional gaming models to blockchain-powered platforms. The shift is fueled by growing consumer demand for true ownership of in-game assets, enhanced transparency, and innovative monetization mechanisms.

In traditional gaming environments, players typically do not have actual ownership of the assets they acquire during gameplay. These digital items are controlled by game developers, and access to them can be restricted, modified, or revoked at the discretion of the game publisher. Blockchain technology disrupts this model by introducing decentralized systems where in-game assets are securely recorded on the blockchain. This empowers players with full ownership and control over their virtual items, such as characters, skins, weapons, and collectibles.

Moreover, blockchain enhances transparency and security across the gaming ecosystem, significantly reducing the potential for fraud or unauthorized manipulation. The immutability and traceability of blockchain records make them an ideal solution for the gaming industry's trust and authenticity challenges.

Another key trend shaping the market is the emergence of gaming metaverses—fully immersive virtual worlds underpinned by blockchain. These digital universes allow users to engage in social, commercial, and recreational activities, offering a seamless and decentralized gaming experience. In metaverse environments, players can interact with each other, participate in missions or competitions, and buy or trade digital assets using cryptocurrencies. As interest in metaverses continues to surge, they are anticipated to become a significant force driving the growth of blockchain in gaming over the coming years.

In addition, the integration of Decentralized Finance (DeFi) protocols into blockchain-based games is unlocking new revenue streams and investment opportunities. Game developers are incorporating DeFi elements such as staking, yield farming, and token swaps, allowing players to earn cryptocurrency rewards through gameplay. These tokens can be exchanged on decentralized platforms or used to purchase valuable in-game assets, making the gaming experience more lucrative and immersive for users. This model supports a "play-to-earn" ecosystem, where players can effectively monetize their skills and time.

The COVID-19 pandemic had a notably positive influence on the blockchain gaming industry. As lockdowns and restrictions limited in-person interactions, people increasingly turned to digital entertainment, leading to a surge in demand for online gaming and virtual experiences. This shift created fertile ground for blockchain-based games to thrive, further accelerating the adoption of decentralized gaming platforms.

Blockchain in Gaming Market Report Highlights

• Collectible Games Segment: This segment is expected to exhibit the fastest growth during the forecast period. Blockchain-based collectible games are designed for interoperability, allowing players to use their digital assets across multiple platforms and games. This cross-platform utility enhances the value and functionality of assets, making collectible games particularly appealing.
• ETH Segment: Ethereum held the dominant market share in 2022. This is attributed to its robust and active developer community, which has been instrumental in building a diverse range of decentralized applications (dApps), including games. The Ethereum blockchain continues to drive innovation in the gaming space through tools such as smart contracts and NFTs.
• Web Segment: In 2022, web-based blockchain games led the market. These games offer broad accessibility, as they can be played on any internet-enabled device with a browser—ranging from desktops and laptops to tablets and smartphones. This flexibility has made blockchain gaming more inclusive and convenient for users globally.
• Asia Pacific Region: The Asia Pacific region emerged as the leading market in 2022. This leadership is driven by the presence of numerous pioneering gaming and blockchain companies across countries like China, Japan, South Korea, and Singapore. These firms are actively developing and deploying innovative blockchain gaming solutions that include features like tradable in-game assets and decentralized marketplaces, further propelling regional growth.

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Blockchain In Gaming Market Segmentation

Grand View Research has segmented the global blockchain in the gaming market based on game type, platform, device, and region:

Blockchain In Gaming Game Type Outlook (Revenue, USD Million, 2017 - 2030)

• Role Playing Games
• Open World Games
• Collectible Games

Blockchain In Gaming Platform Outlook (Revenue, USD Million, 2017 - 2030)

• ETH
• BNB Chain
• Polygon
• Others

Blockchain In Gaming Device Outlook (Revenue, USD Million, 2017 - 2030)

• Android
• Web
• IOS
• Others

Blockchain In Gaming Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

Key Players in the Blockchain In Gaming Market

• Dapper Labs, Inc.
• Sky Mavis
• Splinterlands
• Animoca Brands Corporation Limited
• Immutable
• Uplandme, Inc.
• Illuvium
• Mythical Inc.
• ROKO GAME STUDIOS
• Autonomous Worlds Ltd.

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