Increased investments in blockchain games

 

Increased investments in blockchain games

The market for blockchain gaming is anticipated to increase, rising from USD 4.6 billion in 2022 to USD 65.7 billion by 2024.

By 2027 at an annual growth rate (CAGR) of 70.3% during the forecast period.

One factor driving market growth is increased funding for blockchain games.

By game type

role playing games represent the highest market share during the forecast period

The P2E gaming model works on blockchain

encryption and NFT to convert the traditional free concept of earning into P2E.

Role-playing games (RPGs) are actively played around the world, and these games have always been a modern type in the industry.

In these games

• In real-time combat, players have direct control over characters.

• and players can win NFT rewards

• and encryption rewards while playing these games.

Role-making games have a variety of subgenres, such as action-oriented role-making games and role-based role-making games.

Role play games enable users to enjoy unique gameplay experiences using weapons, avatars and in-game skills.

Unlike traditional games

RPG games are integrated with in-game assets, such as NFTs, leather, weapons, etc.

Different subtypes of role-making games, such as motion-based games, multiplayer and others

It makes it widely popular among audiences.

In a game of role playing

players take on character roles in a fantasy environment.

• It is the responsibility of players to represent these roles within the narrative.

• It can be through craft representation

• or through structured decision-making regarding personality development.

In these games

Players must acquire more powerful weapons.

or similar elements to improve their personality

That's why blockchain role-playing games are strongly linked to NFTs.

Axie Infinity

Binemon 

1. Blankos Block Party, My Crypto Heroes
2. and Lost Relics are some of
3. the popular blockchain-based RPG games.

By statute

the BNB series grows at the highest CAGR during the forecast period

According to Binance

BNB Chain dominated the blockchain gaming sector with a 36.6% market share that is, it has the largest number of series-based games.

Blockchain game space grows at an alarming rate. Average daily UAW transactions on BNB series have increased

8% monthly to over 92,000 in August 2022.

• These trends have made BNB Chain gain rapid market momentum

• and this blockchain platform is expected to

• grow at the highest annual composite growth rate during the forecast period.

BNB Chain cooperates with many companies to grow their presence in the market.For instance, Google Cloud and BNB Chain worked together in September 2022.

This collaboration will help accelerate the early start-up of Web3 and blockchain to create and scale high-performance, effective and sustainable innovations.

These initiatives can help to boost Web3

and blockchain startups in the blockchain gaming market.