The current market is growing by a 21.8% CAGR, according to a report from Fortune researchers.
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The global blockchain gaming market will grow to an estimated $614 billion over the next seven years, according to an analysis from Fortune Business Insights released on December 11. The market currently accounts for an estimated $154 billion in spending.
The report analyzed global sales data for blockchain game products from 2017-2021. It found that sales were increasing by a compound annual growth rate (CAGR) of 21.8%, implying that by 2030 the market will have reached $600 billion. This implies an absolute growth rate over the six year period of nearly 299%.
Fortune’s researchers divided the world into five regions: North America, South America, MiddleEast/Africa, Europe, and Asia Pacific. North America posted the largest share of blockchain game item purchases for any single region in 2022, as it accounted for over $30 billion or approximately 24% of the total. The researchers stated that they expect this North American dominance to continue over the period.
When it comes to the category of games offered, the report stated that it expects role-playing games to have the highest growth rate when compared to other categories. These games have “special characters, themes, additional weapons, accessories, and other features” that make them especially suited to implement blockchain features. Role-playing games represented over 33% of the market in 2022, it stated.
Web-based blockchain games currently represent the largest segment of blockchain games, which the researchers expect to continue to dominate in the future, although they also stated Android-based games are becoming more prevalent.
Related: Enjin migrates over 200M NFTs from Ethereum to its blockchain
Blockchain gaming companies have implemented new features recently to make onboarding easier. For example, Immutable added Transak as an additional option for purchases on December 11. Not all blockchain gaming news is positive though. A November 30 CoinGecko study found that over 75% of blockchain games launched between 2018 and 2023 have failed.
