BROOKLYN, NEW YORK, USA, January 30, 2024 /EINPresswire.com/ — The IMARC Group’s latest research report, titled “Blockchain Gaming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the blockchain gaming market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global blockchain gaming market size reached US$ 8.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 854.4 Billion by 2032, exhibiting a growth rate (CAGR) of 65.2% during 2024-2032. Get Sample Copy of Report at – https://www.imarcgroup.com/blockchain-gaming-market/requestsample Factors Affecting the Growth of the Blockchain Gaming Industry: • Blockchain Technology Integration: The integration of blockchain technology is a pivotal factor driving the growth of the blockchain gaming industry. Blockchain technology offers several advantages that have revolutionized the gaming landscape. One of the key benefits is decentralization, which allows gamers to have true ownership of in-game assets. In traditional gaming, virtual items are controlled by centralized entities, but with blockchain, players have secure ownership and can trade these assets freely. Moreover, blockchain ensures transparency and immutability of transactions, reducing fraudulent activities such as cheating, item duplication, and unauthorized modifications within games. The use of smart contracts automates in-game transactions, enabling developers to create unique and provably scarce assets, which can be a significant draw for players. • NFTs and Digital Collectibles: Non-fungible tokens (NFTs) have taken the gaming industry by storm and are a driving force behind its growth. NFTs are unique digital assets that can represent in-game items, characters, or even entire game worlds. These digital collectibles have become a lucrative market for both gamers and developers. NFTs grant players true ownership of their in-game assets, allowing them to buy, sell, or trade these items in secondary markets. This ownership has created a sense of scarcity and rarity, making NFT-based games highly appealing to collectors and gamers alike. The potential for high-value transactions and the thrill of owning one-of-a-kind digital items have attracted a significant player base. • Community Engagement and Play-to-Earn: Community engagement and the concept of “play-to-earn” are pivotal factors contributing to the growth of the blockchain gaming industry. Unlike traditional games, blockchain games involve players in the decision-making process and reward them for their participation. Blockchain games often have governance tokens that grant players voting rights in the development process, allowing them to have a say in-game updates and changes. This level of involvement fosters a sense of community and loyalty among players, leading to sustained player bases. Furthermore, the play-to-earn model enables gamers to earn cryptocurrency or in-game assets by actively playing the game, completing tasks, or participating in various in-game activities. This has attracted players looking to earn a living or supplement their income through gaming. Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/blockchain-gaming-market Global Blockchain Gaming Market Trends: The global market is primarily driven by the rise of stablecoins, which are cryptocurrencies pegged to real-world assets like the US dollar, and provide a stable and less volatile currency for in-game transactions. Additionally, the increasing accessibility of smartphones and the Internet in regions like Southeast Asia, Latin America, and Africa has stimulated market growth. Moreover, the blockchain gaming industry has been propelled into the mainstream through extensive media coverage and celebrity endorsements. Furthermore, it is increasingly attracting established intellectual property (IP) holders and licensing agreements which making their way into blockchain games, leveraging their existing fan bases to drive adoption. Besides this, the environment impacts traditional gaming, which has raised concerns among environmentally conscious players which is further fueling the market growth for this product. Competitive Landscape with Key Players: • Animoca Brands Corporation Limited• Dapper Labs Inc.• double jump.tokyo Inc.• Illuvium• Immutable Pty Ltd.• Mythical Inc.• Sky Mavis• Uplandme Inc.• WeMade Co. Ltd. Blockchain Gaming Market Report Segmentation: By Game Type: • Role Playing Games• Open World Games• Collectible Games Role-playing games represented the largest segment due to their ability to leverage blockchain technology for in-depth character customization, true ownership of in-game assets, and the play-to-earn model, all of which resonate strongly with the gaming community. By Platform: • ETH• BNB Chain• Polygon ETH represented the largest segment because Ethereum’s blockchain infrastructure has been widely adopted for creating and trading NFTs, making it a preferred choice for blockchain game developers looking to tokenize in-game assets. By Region: • North America (United States, Canada)• Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)• Europe (Germany, France, United Kingdom, Italy, Spain, Others)• Latin America (Brazil, Mexico, Others)• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) Asia Pacific’s dominance in the market is attributed to its significant population of tech-savvy gamers, growing interest in blockchain technology, and the appeal of play-to-earn models that align with economic opportunities in the region. Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization. Browse More Reports: • Global E-Cigarette Market Report 2024• Global Precision Agriculture Market Report 2024• https://www.imarcgroup.com/ev-charging-cables-market• https://www.imarcgroup.com/electric-vehicle-charging-station-market• https://www.imarcgroup.com/print-on-demand-market About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations. Elena Anderson IMARC Services Private Limited +1 631-791-1145 email us here
Blockchain Gaming Market Report 2024, Global Size, Industry Trends, Top Companies, Outlook and Forecast by 2032
