GameFi market set for $301.5b surge amid ecosystem expansion

New data shows that the blockchain gaming market is expected to reach hundreds of billions of dollars by 2030, thanks to a strong annual increase.

The blockchain gaming industry is on track for significant expansion, with estimates suggesting it could reach $301.5 billion in the next six years, reflecting an annual growth rate of approximately 68%.

Analysts at blockchain analysis firm Nansen attributed this increase in a recent blog post to the decentralized nature of blockchain technology, which allows players to own in-game assets such as non-fungible tokens and tokens.

In-game economy comparison between Seraph, Illuvium and Axie Infinity | Source: Nansen

Across genres, role-playing games are “particularly well-suited to benefit” from blockchain due to the genre’s emphasis on character progression, analysts say.

“RPGs make up 22% of all web3 games, followed by action games at 17%.”

Nansen

Nansen noted that AAA games on GameFi currently “make up only 1% of web3 games,” with AAA and AA games making up 6%, and the popular video cap at 4% for traditional web2 AAA and AA games distributed on Steam. He added that he overcame it. gaming market.

The growth of blockchain games points to opportunity for traditional game developers

Analysts also noted that despite the challenging crypto environment, daily trading volume of blockchain games increased by nearly 9% in August, and networks such as opBNB, Ronin, and Polygon are well positioned to support this growth.

Traditional game developers are also exploring opportunities in web3 games. As crypto.news previously reported, Ubisoft, known for hit series like Assassin’s Creed and Far Cry, is entering this space with its tactical role-playing game Champions Tactics: Grimoria Chronicles, which will be released on Ethereum’s gaming hub HOME Verse. layer-2 network, Oasys.