The Market
Last updated
Last updated
“The global gaming market was valued at USD 162.32 billion in 2020 and is expected to reach a value of USD 295.63 billion by 2026, registering a CAGR of 10.5% over the forecast period (2021 – 2026).”[1] “According to data presented by SafeBettingSites.com, the total number of gamers hit over 3.2 billion this year, more than 40% of the world’s population.”[2] In another report “Accenture (NYSE: ACN) estimates that the full value of the gaming industry now exceeds $300 billion, more than the combined markets for movies and music, driven by a surge in mobile gaming and an emphasis on social interaction during the COVID-19 pandemic.”[3] Numbers may vary but all reports agree that the gaming industry is big and it is growing ever faster with the pandemic.
The blockchain space on the other hand is one of the few candidates for a faster growth. A report published on Grand View Research estimates a higher CAGR for the blockchain sector during the same period: ”The global blockchain technology market size was valued at USD 3.67 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 82.4% from 2021 to 2028.”[4]
Gaming and blockchain are among the most attractive domains for investment. With the NFT boom the obvious is becoming real. Games are now joining the blockchain-NFT ride and vice versa. “Play to earn” is the buzzword of both domains in 2021. GameFi is the next big thing, they say in both realms. No one doubts, since it is the breed of the attractive parents, joining the two worlds which are meant to be together. We the gamers and coiners have always thought that gaming is a perfect use case for blockchain and vice versa. We easily grasp the use case of NFT for game items, unlike for digital content which can be downloaded and utilized freely.
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