Opportunity
Gaming and blockchain are colliding.
Last updated
Gaming and blockchain are colliding.
Last updated
Almost 2.9 billion gamers worldwide make up the over $180 billion business for video games, outpacing more conventional forms of entertainment like movies and music.
Takeaway:
More than 3.2 billion individuals are projected to play video games worldwide by 2025, with the market expected to generate $256.97 billion in sales.
The gaming industry undergoes constant evolution and the year 2021 saw the emergence of web3 gaming.
Blockchain technology integration into the gaming industry opened up much more than just the unsustainable play-to-earn paradigm. In-game assets can be owned indefinitely, secondary market liquidity can be verified, while the community governance, shared ownership arrangements, and developer financing possibilities are much improved, among other things.
By establishing a new economic model where players may own game assets and developers can earn royalties from exchanging these assets, blockchain is poised to disrupt the gaming industry. As they will receive royalties for each sale of game components, this new model gives game makers a potent new chance to generate revenue. This recurring revenue business model gives games a better economic structure and gives players the ability to actually own and trade their in-game assets.
According to the DappRadar x BGA Games Report report, so far over $10 billion has been invested in gaming studios developing their games on the blockchain. Those games and their developers will inevitably seek infrastructure solutions that would enable them to easily scale and match their games with a group of non-crypto gamers.
Takeaway:
Gaming is undoubtedly one of the web3 space's fastest-growing businesses thanks to the synergy between blockchain technology and gaming. This prospect has attracted investors, as evidenced by the over $10 billion spent in on-chain games.
In terms of widespread acceptance, blockchain gaming is still in its infancy. This is a further indication that a huge influx of top-notch blockchain games is to come. These games will look for a solution that enables them to compete with non-crypto gamers in order to scale. They are thus ideal partners for GameSwift.
