The blockchain gaming market in North America is poised to soar to a staggering $600 billion by 2030, according to a recent report by Fortune Business Insights. Currently experiencing a robust growth rate of 21.8% CAGR, the global blockchain gaming market is anticipated to reach an impressive $614 billion over the next seven years, reflecting a substantial surge from its current valuation of approximately $154 billion.
The comprehensive analysis, spanning the years 2017 to 2021, revealed a remarkable CAGR of 21.8%, underscoring the industry’s potential for exponential growth. This forecast implies a phenomenal absolute growth rate of nearly 299% by the year 2030. Fortune’s researchers delved into global sales data, categorizing the world into five regions: North America, South America, Middle East/Africa, Europe, and Asia Pacific.
Notably, North America claimed the lion’s share of blockchain game item purchases in 2022, exceeding $30 billion and constituting approximately 24% of the total market. The researchers anticipate this dominance in North America to persist in the foreseeable future. The report also identified role-playing games as a standout category, poised for the highest growth rate due to their distinctive features such as special characters, themes, and additional in-game elements. In 2022, role-playing games represented over 33% of the market.
Web-based blockchain games currently reign as the largest segment, expected to maintain their dominance, although the researchers noted the rising prevalence of Android-based games. Despite the optimistic outlook, the report acknowledged challenges within the industry. A November 30 CoinGecko study highlighted that over 75% of blockchain games launched between 2018 and 2023 have faced failure.
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In response to the growing market, blockchain gaming companies are innovating to enhance user onboarding. Notably, Immutable introduced Transak as an additional purchase option on December 11. While the industry is witnessing notable successes, it is not without its setbacks, emphasizing the dynamic nature of the blockchain gaming landscape.
