Blockchain Gaming Market by Platform (Ethereum, Polygon, Solana, Cardano, EOS, Binance Smart Chain), Model (Free-to-play, Pay-to-play, Play-to-earn), Genre, and Geography - Global Forecast to 2030

Blockchain Gaming Market is projected to reach $165.4 billion by 2030, at a CAGR of 51.7% during the forecast period 2024–2030. The growth of this market is driven by the proliferation of player-driven economies, the increasing need for secured and transparent gaming environments, and growing investments and funding in blockchain gaming. Additionally, cross-game interoperability in multiple games or platforms, non-fungible tokens (NFTs), and play-to-earn model trends are expected to create market growth opportunities. However, complex standards & regulations for blockchain gaming restrain the growth of this market. Cybersecurity & data privacy issues are major challenges for players in this market. Integration of game finance (GameFi) and decentralized finance (DeFi), metaverse and other virtual worlds are a prominent trend in the blockchain gaming market.

Increasing Need for Secured and Transparent Gaming Environments is Expected to Drive Market Growth

The need for secure and transparent gaming environments has become increasingly important as the gaming industry expands and evolves. Traditional gaming often faces challenges related to cheating, lack of transparency, and centralized control. Blockchain technology addresses these issues by providing secure, transparent, and decentralized solutions that appeal to gamers. It offers a robust solution by providing an immutable and transparent ledger, strong security measures, and decentralized control.

In traditional gaming, player accounts and in-game assets are vulnerable to hacking, fraud, and unauthorized access. Blockchain gaming utilizes cryptographic techniques to ensure the security of player accounts and transactions. The decentralized nature of blockchain prevents a single point of failure, making it difficult for hackers to compromise the system. Companies use smart contracts in blockchain gaming to ensure game mechanics and rules are executed transparently, reducing the risk of cheating or manipulation.

Blockchain gaming also addresses the issue of centralized control and ownership. In traditional gaming, players often have limited control over their in-game assets, and game developers can dictate their rules, availability, and value. With the integration of blockchain technology in gaming, players have true ownership and control over their digital assets through NFTs. Players can freely transfer, trade, and sell their assets without interference from central authorities. The growing popularity of in-game economies, virtual assets, and digital collectibles necessitates a secure, transparent, and trustworthy framework. Thus, the increasing need for secure and transparent gaming environments is supporting the blockchain gaming market.

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Some of the developments in the blockchain gaming market are as follows:

• In March 2024, Wemade Co., Ltd (South Korea) partnered with Space and Time (SxT) (U.S.) to power blockchain and gaming services and offered gamers greater ownership and control over their digital assets.
• In March 2024, Thunder Token Ltd. (Taiwan) partnered with Yield Guild Games Southeast Asia (YGG SEA) (Philippines) to launch a developer program to tackle the growing demand for blockchain games and virtual worlds.
• In October 2022, Catheon Gaming (U.S.) partnered with Cointelegraph (U.S.) to drive mainstream adoption of blockchain gaming and entertainment through educational content, thought leadership, and exclusive insights.
• In August 2022, Splinterlands (U.S.) announced its partnership with MLS Players Association (MLSPA) (U.S.) to create and develop a Play-to-Earn (P2E) blockchain soccer-based game.

Key Findings in the Blockchain Gaming Market Study:

In 2024, the Ethereum Segment is Expected to Dominate the Blockchain Gaming Market

Based on platform, the global blockchain gaming market is segmented into Ethereum, Polygon, Binance Smart Chain (BSC), Cardano, Flow, Solana, Electro-Optical System (EOS), and other platforms. In 2024, the Ethereum segment is expected to account for the largest share of the global blockchain gaming market. The large market share of this segment is attributed due to its compatibility with various programming languages for flexible development options; established network and infrastructure for reliable and secure transactions, smart contract functionality, & programmable in-game logic; and growing need for transparency, immutability, seamless transfer of digital assets across games.

However, the Binance Smart Chain segment is projected to register the highest CAGR during the forecast period due to its lower transaction fees, higher transaction throughput, cross-chain asset transfers, collaborative gaming experiences, and access to a broader range of players from different ecosystems.

In 2024, the Free-to-play Games (F2P) Segment is Expected to Dominate the Blockchain Gaming Market

Based on model, the global blockchain gaming market is broadly segmented into free-to-play (F2P), pay-to-play (P2P), play-to-earn (P2E), and other models. In 2024, the free-to-play segment is expected to account for the largest share of the global blockchain gaming market. This segment's large market share is attributed to its easy accessibility to a wide audience without upfront purchase or subscription fee, continuous content updates, the rise of smartphones and mobile gaming, and its ability to allow players seamlessly switch between different devices and continue their progress.

However, the play-to-earn (P2E) segment is projected to register the highest CAGR during the forecast period due to its features for players to earn digital assets, cryptocurrencies, or in-game rewards that hold value in the real world, increasing leverage of blockchain technology to enable true ownership of in-game assets, and growing need for a decentralized and transparent environment for gamers.

In 2024, the Action/Adventure Segment is Expected to Dominate the Blockchain Gaming Market

Based on genre, the global blockchain gaming market is segmented into action/adventure, sandbox, simulation and sports, role-playing, player vs. player, a multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror, and other genres. In 2024, the action/adventure games segment is expected to account for the largest share of the global blockchain gaming market. The large market share of this segment is attributed due to its ability to attract a diverse range of players by offering engaging narratives, immersive gameplay experiences, character progression, and customization, increasing the availability of action/adventure games across multiple platforms, including consoles, PCs, and mobile devices, and increasing investment from game developers and publishers for higher-quality productions, larger marketing campaigns, and greater market visibility for action/adventure games.

However, the role-playing segment is projected to register the highest CAGR during the forecast period due to its ability to create compelling and engaging gameplay experiences, expansive and open-world environments for players to explore, integration of new technologies, such as virtual reality (VR)/augmented reality (AR) for immersive and interactive experiences, convenience and accessibility of playing RPGs on smartphones, incorporation of new game design elements to cater to changing player preferences, and integration of online multiplayer features in RPGs.

Asia-Pacific to be the Fastest-growing Regional Market

Based on geography, the global blockchain gaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register the highest CAGR during the forecast period due to the advancements in technology and infrastructure, including robust internet connectivity and widespread adoption of mobile devices, the rising popularity of online gaming, the supportive regulatory environment for blockchain-related businesses, including blockchain gaming ventures, and growing esports market in countries including China, India, Japan, and South Korea.

Moreover, cross-border collaborations and partnerships between gaming companies, blockchain developers, and technology providers, and strong crypto and gaming culture, with a high level of interest and familiarity with digital currencies and virtual assets in the region, are also contributing to the growth of the blockchain gaming market in Asia-Pacific.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the blockchain gaming market in the last three to four years. The key players profiled in the blockchain gaming market report are Sky Mavis (Singapore), Enjin Pte. Ltd. (Singapore), Immutable (Australia), Decentraland Foundation (China), Gala Games (U.S.), Animoca Brands Corporation Limited (Hong Kong), MyCryptoHeroes (Japan), Dapper Labs, Inc. (Canada), WAX (Worldwide Asset eXchange) (U.S.), Forte Labs, Inc. (U.S.), Lucid Sight (U.S.), Chromia (Sweden), Ultra (France), Mythical Games (U.S.), Splinterlands (U.S.), Wemade Co., Ltd (South Korea), Dacoco Gmbh (Switzerland), Illuvium (Australia), Uplandme, Inc. (U.S.), and Sorare (France).

Scope of the Report:

Blockchain Gaming Market Assessment, by Platform

• Ethereum
• Polygon
• Binance Smart Chain (BSC)
• Cardano
• Flow
• Solana
• Electro-Optical System (EOS)
• Other Platforms

Blockchain Gaming Market Assessment, by Model

• Free-to-play (F2P)          
• Pay-to-Play (P2P)
• Play-to-Earn (P2E)
• Other Models

Blockchain Gaming Market Assessment, by Genre

• Action/Adventure
• Sandbox
• Simulation and Sports
• Role-playing
• Player VS. Player
• Multiplayer Online Battle Arena
• Real-time Strategy
• Shooters
• Racing
• Puzzlers and Party Games
• Survival Horror
• Other Genres

Blockchain Gaming Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Netherlands
  • Denmark
  • Austria
  • Switzerland
  • Rest of Europe (RoE)

• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Singapore
  • Australia & New Zealand
  • Malaysia
  • Rest of Asia-Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America (RoLATAM)

• Middle East & Africa
  • Israel
  • UAE
  • Rest of the Middle East & Africa (RoMEA)

Key questions answered in the report: