The global blockchain gaming market is set to expand significantly, with a projected growth of USD 43.45 billion from 2024 to 2028, according to Technavio.
Blockchain technology is transforming how video games are played and consumed through the play-to-earn gaming model, where players earn real value in the form of cryptocurrencies or virtual assets. This model is contributing to a diverse player base, attracting people looking to make extra cash. It improves overall player engagement and ownership through the integration of digital assets like NFTs in the gaming world.
However, problems such as network congestion and high gas fees can arise in the blockchain gaming market, as seen with Cryptokitties and other cryptocurrencies. The development of horizontal scaling solutions and the introduction of decentralized finance (DeFi) present opportunities for growth.
The market is segmented by type (role-playing games, open world games, collectible games), platform (ETH, BNB chain, Polygon, others), and geography (APAC, North America, Europe, South America, Middle East, and Africa).
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