DUBLIN–(BUSINESS WIRE)–The “Blockchain Gaming Market by Game Type (RPG, Open World, Collective), Platform (ETH, BNB Chain, Polygon), and Region (North America, Europe, Asia Pacific, Rest of the World) – Added Global Forecast to 2027 report ResearchAndMarkets.com Offer.
The global blockchain gambling market is expected to grow from USD 4.6 billion in 2022 to USD 65.7 billion in 2027 at a compound annual growth rate (CAGR) of 70.3% over the forecast period. One of the factors driving the market growth is the increasing funding of blockchain games.
By game type, role-playing games accounted for the highest market share during the forecast period
The P2E gaming model works with blockchain, crypto and NFTs to transform the traditional free-to-earn concept into P2E. Role-playing games (RPGs) are actively played all over the world, and these games have always been a trending genre in the industry. In these games, players directly control the characters as they fight in real-time and players can earn NFTs and crypto rewards while playing these games. RPG games have a variety of subgenres, such as; B. action-oriented RPGs and turn-based RPGs. RPG games allow users to enjoy unique gaming experiences with weapons, avatars and in-game skills.
Unlike traditional games, RPG games are integrated with in-game assets like NFTs, skins, weapons, and others. The different subgenres of RPG games, such as B. action-based, multiplayer and others, make them very popular with the masses. In an RPG game, players take on the roles of characters in a fictional setting.
It is the players responsibility to play these roles within a narrative. This can be done through literal action or through a process of structured decision making related to character development. In these games, players need to acquire more and better weapons or similar items to improve their character, which is why RPGs are strongly associated with NFTs on the blockchain. Axie Infinity, Binemon, Blankos Block Party, My Crypto Heroes and Lost Relics are some of the famous blockchain based RPG games.
By platform, the BNB chain is projected to grow at the highest CAGR over the forecast period
According to Binance, BNB Chain dominated the blockchain gaming sector with a 36.6% market share — meaning it has the highest number of games built on the chain. The blockchain gaming space is growing at an alarming rate. The average daily UAW transactions on the BNB chain increased by 8% mom to over 92,000 in August 2022. Such trends have caused the BNB chain to quickly gain a foothold in the market and this blockchain platform is expected to grow at the highest CAGR during the forecast period.
BNB Chain has partnered with many companies to expand its presence in the market. For example, BNB Chain partnered with Google Cloud in September 2022. This collaboration will help accelerate early stage Web3 and blockchain startups to innovate and scale powerful, effective and sustainable. These web3 and blockchain startup boosting initiatives could help the blockchain gaming market.
Benefits of blockchain technology
Increasing investment and funding in blockchain games
Switch from traditional games to blockchain-based games
Initial investments and complexities associated with playing blockchain games
Hacks and financial losses
NFTs and play-to-earn model trends
Unique active wallet trends
Limited awareness of blockchain and NFT technologies
Main topics covered:
2 research methodology
4 premium insights
5 Market Overview and Industry Trends
6 Blockchain Gaming Market, by architecture
6.2 Decentralized monolithic
6.3 Decentralized Layered Architecture
6.4 Hybrid Architecture
7 Blockchain Gaming Market, by game type
7.2 Role Playing
7.3 Open World Games
7.4 Collector Games
8 Blockchain Gaming Market, by platform
8.3 Bnb chain
8.5 Other Platforms
9 Blockchain Gaming Market, by Region
10 competitive landscape
11 company profiles
12 neighboring markets
Figure 33 Wemade: Company snapshot
Horizon blockchain games
For more information about this report, visit https://www.researchandmarkets.com/r/xyjegt
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