A recent report from Fortune Business Insights highlights the significant growth of the blockchain gaming industry, projecting a remarkable surge in value to over $600 billion by 2030. The report defines blockchain gaming as video games integrating cryptography-based blockchain technology and predicts a market value of $154.46 billion for 2023.
However, the estimate for 2030 stands at an impressive $614.91 billion, indicating a compounded annual growth rate of approximately 22% between 2023 and 2030. Factors contributing to this surge include the Covid-19 pandemic, which spurred increased activity on virtual gaming platforms during lockdowns.
The report also attributes this growth to rising demand for enhanced gaming experiences and the expansion of decentralized gaming, offering players ownership of in-game assets, transparency, and improved security.