About GameFi
The term GameFi is formed from two words game and finance that runs on the blockchain network and allows to earn rewards in the form of digital assets or cryptocurrency. The revolution of the gaming industry and the growing adoption of crypto have accelerated the growth of GameFi among the traditional pay-to-play game players. Increased adoption of GameFi among the investors to earn, trade, and invest in crypto will boost the market in the nearer future. GameFi allows earning crypto by completing game tasks or participating in tournaments. Further, the growing preference of consumers towards online social gaming has created significant opportunities for the GameFi.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 27.13% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sky Mavis (Vietnam), Riveted Games LLC (Scotland), PIXOWL INC. (United States), Binemon (Germany), Asobo Studio (France), double jump.tokyo (Japan), Animoca Brands (Hong Kong), Codebit Labs (Australia), Third Kind Games (United Kingdom) and Dapper Labs (Canada) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global GameFi market by Type (NFT Games and Crypto Games) and Region.
On the basis of geography, the market of GameFi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Game Type, the sub-segment i.e. Shooter will boost the GameFi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Player will boost the GameFi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Android will boost the GameFi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on Innovation and Development of Online Games by Using AI-Assisted Technology
Market Growth Drivers:
Growing Popularity of GameFi or Blockchain-based Games Among the Traditional Pay-to-Win Video Game Players and High Growth of GameFi as a New Income Opportunity for Investors and Ordinary Players
Challenges:
Increasing Frauds and Privacy Concern Due to High Growth Cyberattackers or Hackers
Restraints:
Lack of Awareness and Slow Adoption in the Developing and Underdeveloped Countries
Opportunities:
Evolution of Metaverse and Rapid Growth of NFT Across the Globe Will Create Significant Opportunities
Market Leaders and their expansionary development strategies
In November 2021, Fold has announced a collaboration with the Pokemon Go developer Niantic for the development of an AR video game that allows earning bitcoins. Fold AR is part of the metaverse and will be a kind of Pokémon GO that allows users to earn rewards every 10 minutes.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, GameFi Providers, Online and Social Gaming Companies, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.