Market overview
The blockchain gaming market is actively developing, so we give an insight into this industry in this section.
The future of gaming
With the advent of new technologies, we are starting to see a shift in the way games are made, played, and experienced – defining the future of gaming.
The next generation of gaming is being shaped by a few major forces. First, new platforms and technologies, such as virtual and augmented reality, artificial intelligence, and cloud gaming, are rising.
Then there’s the increasing importance of the metaverse. It will be a shared online space where players can interact with each other in a variety of ways while transacting both information, but also value.
So how can we dip our toes into the future of gaming?
Virtual and augmented reality
Games are becoming more powerful at an accelerating pace. And what creates that power is the line that separates reality from a virtual world – that any player can cross.
Artificial intelligence
Another field that takes mega corporations to invest in gaming is Artificial Intelligence (AI). Over the years, we got to see AI in different areas, from the control of non-player characters (NPC) to the improvement of the gaming experience with the help of analytics.
Cloud gaming
The cloud is changing the way we live and work. The games of the future will not only be more immersive and exciting, but they will also require less hardware to run.
Ownership and the rise of game communities
When we speak about the future of games, we need to consider that game communities play an important role in reputation and branding. In these communities, players support the game and create content and social engagement on different platforms.
The rise of game communities has increased with the adoption of the Internet, allowing them to connect, exchange information, and create together. It is something never seen before.
The metaverse
Combining all these futuristic elements, the metaverse is a certain next step for gaming. The metaverse can be seen as the next evolution of the Internet, where people can interact and transact with each other through various virtual worlds, gaming spaces, and social hubs.
The games of tomorrow: A summary
The future of the gaming industry is looking bright. With the rise of new technologies, the democratization of the industry, and the empowerment of gaming communities, there are endless possibilities for the next generation of games.
According to statistics, by 2026, about 25% of people will spend at least one hour a day in the metaverse communicating, working, shopping, traveling, and educating or entertaining themselves.
So, if you want to join the gaming industry, now is the time to start.
Blockchain Gaming Market
The revenue impact and advisory company, MarketsandMarkets, has shared its Global Blockchain Gaming Market report. The report covers a forecast period between 2022 and 2027, predicting the market will reach $65.7 billion by 2027.
The current market size of $4.6 billion is expected to grow at a CAGR of 70.3% within five years.
The increase in investments and funding in blockchain games have been identified as core drivers of market growth. Other drivers have been determined as the elevation in popularity of the play-to-earn model, along with the rising NFT trends.
Investment in the blockchain gaming space has been growing exponentially. The total capital raised in 2019 was $27.7 million, which increased to $191 million in 2020, and $3.7 billion in 2021. In 2022, the total capital raised reached a staggering $7.6 billion, indicating a growing interest and confidence in the space.
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