A recent business report has stated optimistic projections for the blockchain gaming market around the world, with huge potential in the near future.
Crypto adoption had steadily progressed in 2023, with multiple use cases, products, and projects. The booming crypto market has also fuelled the growth of blockchain products, with more optimism associated with the industry. With the trend becoming popular, blockchain gaming has become an emerging use case for the technology. A recent business report highlighted it, sharing details and numbers of the growing industry.
According to the report, the global blockchain gaming market is currently valued at $154.46 billion. The number will likely grow to a staggering $614.91 billion by 2030, at a CAGR of 21.80%. The report analyzed various blockchain products and games of the recent past for their findings. Moreover, it also analyzed sales data for such blockchain products from 2017 to 2021. The absolute growth rate for the market till 2030 will amount to around 299%.
The report stated North America was the biggest market for the industry. On the other hand, a direct correlation between such gamers and crypto adoption was mentioned in the report. It said 50% of the gamers owned crypto and used it for their transactions during gaming. As a result, the boost of crypto adoption via gaming was clearly specified.
Asia Pacific was another region in focus for the industry. The report stated that the region could have the highest CAGR during the forecast period. The report went on to describe various projects in the domain that have enabled adoption and popularized the sector.
Blockchain technology has assumed a central stage globally with a few recent events. The COP28 climate event in the UAE saw the launch of a blockchain carbon-trading platform. Meanwhile, a blockchain infrastructure project in Europe could soon see the light of the day.
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