Industry Background:
Blockchain is the technology that enables the existence of cryptocurrency. It is a play and earns type game. Start 2021 as the most popular blockchain game with around 8000 daily unique active wallets. It is a video game that includes elements that use cryptography-based blockchain technologies. Blockchain elements in these games are most often based on the use of cryptocurrency or non-fungible tokens NFTs which players can buy and sell with other players. The blockchain game market is expected to grow rapidly during the forecast period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Decentraland (Argentina), Mythical Games Inc. (United States), OpenSea (United States), Sky Mavis (Singapore), Dapper Labs Inc. (Canada), ITAM Games (South Korea), Robot Cache (United States), MakerDAO (United States), Kriptomat OÜ (Estonia) and VZ Games (Latvia) |
This growth is primarily driven by Players can Earn Money by Playing Games and A simple way for the Gaming Industry to earn Money.
Globally, a noticeable market trend is evident Advancement in PC and Mobile Gaming
Major Players, such as Decentraland (Argentina), Mythical Games Inc. (United States), OpenSea (United States), Sky Mavis (Singapore), Dapper Labs Inc. (Canada), ITAM Games (South Korea), Robot Cache (United States), MakerDAO (United States), Kriptomat OÜ (Estonia) and VZ Games (Latvia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Global Blockchain Game is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
On 2nd November 2021, Mythical Games Inc. announced the first developer partners for the Mythical Platform. The platform offers a full-service system to build or integrate playable blockchain-based economies into games, facilitating a new level of ownership of digital assets for players, and connecting creators and brands. The partnership enables Mythical to help fund the development of Studio Games, a racing game from independent developer and publisher Creative Mobile.
In September 2022, Sky Mavis launched Axie Infinity, to entitle a more specific brand for Axis. The first mini-game for Coproprietors, and new updates for the Land Alpha game. The Axie perpetuity enables the players to represent uniquely as well as display attainments by the advancement the company made.
Regulatory Insights:
As per the Securities and Exchange Commission (SEC) guidelines, “the issuance of certain crypto tokens are securities and must comply with the securities laws.”
Influencing Trend:
Advancement in PC and Mobile Gaming and The popularity of Blockchain Games
Market Growth Drivers:
Players can Earn Money by Playing Games and A simple way for the Gaming Industry to earn Money
Challenges:
Regulatory Guidelines On the Blockchain Game Developers and Players
Restraints:
High Premium Costs Associated with the Blockchain Games and Concerns Related to Low Scalability and Energy Consumption
Opportunities:
Rising Blockchain Games Demand from Lack of Gamers
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Blockchain Game Market
- Analysis about New Entrants in Blockchain Game Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Blockchain Game Study Sheds Light on
The Blockchain Game Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blockchain Game industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain Game industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.