Blockchain Gaming Market

Global Blockchain Gaming Market Size, Growth Analysis & Forecast:

The global blockchain gaming market size is anticipated to reach USD 24.4 Billion in 2025. Looking forward, IMARC Group estimates the market to reach USD 1,172.8 Billion by 2033, exhibiting a CAGR of 62.59% from 2025-2033. Asia Pacific currently dominates the market with 28.7% in 2024. The primary drivers of the market are growing awareness among individuals toward better security and transparency through blockchain technology, as well as increasing integration of non-fungible tokens.

The global blockchain gaming market is gaining momentum due to its increased usage, security features, and transparency in digital asset ownership, attracting developers and players. NFTs have created a revolutionary means of having in-game assets that a player can buy, sell, or utilize across a platform with actual real-world value creation while maintaining an active ecosystem in the games. The increasing interest in play-to-earn (P2E) models has further fueled the growth of the market, which provides players with financial incentives to participate in games. The model has become popular in emerging markets, where users view gaming as a source of income. Furthermore, the increasing number of decentralized gaming platforms and metaverse integration is attracting investments from major tech companies and venture capitalists. Demand for more immersive and personalized gaming experiences has led to a significant push, combined with infrastructure advancements in blockchain, into this market.

The United States has emerged as a key regional market for blockchain gaming and is driven by high internet penetration and advanced digital infrastructure that provides a foundation for blockchain gaming adoption. The growing popularity of cryptocurrency among U.S. consumers offers a natural overlap with blockchain-based gaming, promoting the organic integration of token economies. NFTs have further propelled the market, introduced unique ownership of in-game assets, and allowed gamers to trade and monetize collections. The US is host to some of the innovative gaming studios and blockchain firms, which in turn contributes to innovation within decentralized ecosystems of gaming. Increased attention toward the metaverse, as well as virtual experience, is one of the major drivers, in which case players are moving into deeper immersive environments driven by blockchains. The government is actively working on defining regulatory environments for blockchain applications and high investment activity by venture capital firms also helps in adding to the market's size.

Blockchain Gaming Market Trends:

Adoption of non-fungible tokens (NFTs)

NFTs on blockchain technology are becoming prominent as they allow the development of unique and verifiable digital assets, marking a significant advancement in the gaming industry. These tokens allow players really to own in-game items as they can be sold or transferred independently of the game. One of the common examples is CryptoKitties, a game where players can trade and collect virtual cats, each represented by a unique NFT. This integration has created new gameplay experiences and established new economic models within games. In August 2023, Animoca Brands Corporation Ltd. entered a Memorandum of Understanding (MoU) for a strategic collaboration with CyberConnect to construct a decentralized social layer for the company's NFT collection, Mocaverse. Furthermore, in May 2024, one of the gaming-specialized blockchain networks Oasys teamed up with a finance corporation in SBI Group, SBINFT, to enhance its market share in crypto gaming in Japan. Besides this, non-fungible tokens attract collectors and enthusiasts and create an entirely new market for trading virtual items, which is expanding the blockchain gaming industry size.

Various decentralized platforms

The increasing focus among key players toward shifting control from centralized entities to creators and players is acting as a significant growth-inducing factor. The following platforms include developer tools for creating blockchain-based economies in games: Gala Games and Enjin. In March 2024, Mirror World, a popular platform for web3 application development, announced the first gaming rollup on Solana, marking a breakthrough in decentralized gaming ecosystems. In the same month of March 2024, ZOGI Labs, one of the players in the decentralized GaaS industry, launched its flagship title, Bezogia. In addition, these gaming platforms provide gamers with more control over their in-game assets and data. This, in turn, is positively contributing to the blockchain gaming market dynamics. 

Increasing venture capitalist investments

The high investments made by firms, such as Ubisoft and Andreessen Horowitz, in blockchain gaming startups are strengthening the global market. Furthermore, Illuvium, a blockchain games developer, secured $12 million in Series A funding in March 2024, bringing its total funding to $60 million. The company is creating the first interoperable blockchain game universe, featuring three titles: Illuvium Arena (an autobattler), Illuvium Overworld (a creature collector), and Illuvium Zero (a cross-platform city builder). In addition, in March 2024, Polygon Labs, Immutable, and King River Capital partnered to launch a USD 100 Million web3 gaming fund. In addition to this, traditional gaming companies are now realizing the innovative potential and lucrative opportunities of blockchain gaming. For instance, in April 2024, GFAL, a Web3 gaming startup, successfully closed a $3.2 million seed funding round. This funding round was led by prominent investors including Supercell, known for the hit game Clash of Clans. In line with this, one of the emerging blockchain gaming trends is the increasingly inflated popularity of the metaverse the digital ownership represents along with seamless asset transfers across the different games and various platforms.

Blockchain Gaming Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global blockchain gaming market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on game type and platform.

Analysis by Game Type:

• Role Playing Games
• Open World Games
• Collectible Games

Role-playing games dominate the market with 33.8% of market share, with blockchain technologies enhancing gameplay and user ownership through their unique properties. In blockchain RPGs, players can develop, make, and sell unique characters, items, and other assets, with NFTs securing such digital assets from being sold outside of the in-game ecosystem. Examples of this trend can be seen in games such as "The Six Dragons", which provides massive, open worlds in which everything inside the game-from all the items to character advancement-is tied to the blockchain. This brings a sense of security and authenticity to the experience of gaming, while new economic opportunities for players emerge as well. By combining the use of blockchain, RPGs can offer far more dynamic and interactive experiences between the game and the community. This, in turn, is contributing to the blockchain gaming market growth. For example, in May 2024, 'Guild of Guardians', a much-awaited crypto game, declared its launch on both Apple and Android devices. It also holds the potential to influence the mobile gaming market profoundly due to the integration of Blockchain technology's ownership and transparency features with the engaging gameplay of traditional RPGs. Players also play the role of caretakers, completing quests, fighting monsters, and entering alliances in a lush fantasy world.

Analysis by Platform:

• ETH
• BNB Chain
• Polygon

Ethereum (ETH) represents the leading segment with 32.05% of blockchain gaming market share, providing a base for most decentralized applications and games. It is the largest smart contract platform that enables developers to create complex in-game economies, develop tokenized assets and manage them. These assets, known as Non-Fungible Tokens, enable players to own, trade, and sell unique digital items, leading to the truest sense of ownership and real-world value within games. The game Axie Infinity and other notable blockchain games use the Ethereum blockchain to enable, verify, and make transactions to guarantee transparency, security, and trust among participants. Early scalability issues forced high gas fees and significant transaction delays on the user experience side. Ethereum 2.0, combined with Layer 2 solutions like Polygon and Optimism, is solving these problems by allowing faster and cheaper transactions. These improvements do reduce latency and fees and enhance the overall gaming experience, thus making blockchain games more accessible and appealing to a broader audience. Developers can leverage the robust infrastructure of Ethereum to create immersive, interactive environments and innovative play-to-earn models that attract players and developers alike to the ecosystem. This makes Ethereum a cornerstone in the evolution of blockchain gaming.

Regional Analysis:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

In 2024, Asia Pacific represents the leading region with 28.7% share due to its robust gaming culture and technological advancements. Countries such as China, Japan, and South Korea are at the forefront, with significant investments in technology and a high adoption rate of cryptocurrency. The developers in the region are creating innovative games that leverage blockchain for improved security, transparency, and player ownership. November 2023 A Web3 Gaming Report claimed that Web3 game development leaders are emerging in the Asia-Pacific region, with 40% of developers found there. Japanese title "My Crypto Heroes" and a very famous "Axie Infinity," led by a very large audience base in the Philippines, indicate the enormous potential in the blockchain-based gaming landscape. Additionally, supportive government initiatives along with lenient and supportive regulatory policies of some other nations are fostering a supporting climate for innovation in blockchains. As per blockchain market share analysis, Asia Pacific gains traction along with huge investment and will continue to increase the regional market over the above forecast period.

Key Regional Takeaways:

United States Blockchain Gaming Market Analysis

In 2024, the United States holds 70% of the blockchain gaming market in North America. Game developers are increasingly applying blockchain technologies to provide actual ownership in games through NFTs, which is propelling the market. According to the United States government, millions of people worldwide, and 16% of adult Americans, have invested in digital assets, which has brought about a global market capitalization that reached USD 3 Trillion in November of 2022. This is an upward trend that attracts a growing base of players seeking more control and value from their gaming experience. In addition, the emergence of the play-to-earn models is changing gaming, since it allows earning cryptocurrency or other digital rewards, which contributes to increased engagement in games that are built on a blockchain. At the same time, gaming firms are constantly advancing their blockchain technology to better improve transaction velocities and reduce associated costs, contributing to growing adoption. Gaming studios collaborate with blockchain platforms, with this collaboration promoting further advancement and acceptance in space.

Europe Blockchain Gaming Market Analysis

The blockchain gaming market in Europe is experiencing significant growth, driven by several factors. Blockchain technology is being progressively incorporated into games by developers, allowing players to securely own, trade, and monetize in-game assets. Non-fungible tokens are increasing the use of marketplaces as NFTs are offering one-of-a-kind, unique tradable digital items for better gaming experiences. There has been a growing interest in decentralized platforms in transparency and also without intermediaries, hence earning more trust. According to the International Trade Association, nearly about 60% of Germans were engaged in video games as of 2022, with the average being 37.9 years of age. European governments and organizations are also encouraging blockchain innovation. The adoption of this technology is accelerating in the gaming industry. As play-to-earn models are getting popular, more users are participating in blockchain-based games to earn real-world income. As cryptocurrency wallets become increasingly accessible, it is also simplifying user engagement, which in turn propels market growth.

Asia Pacific Blockchain Gaming Market Analysis

Developers of games are integrating the concept of blockchain technology to assure ownership of in-game assets by offering secure and transparent access for the tech-savvy gamer. According to IBEF, in 2023, India became the world's largest gaming market with a user base of 568 Million gamers and achieved an unprecedented milestone of 9.5 Billion gaming app downloads. Players are increasingly embracing play-to-earn models, which are offering monetary rewards and incentivizing engagement. Blockchain networks are enhancing scalability and reducing transaction costs, ensuring a seamless gaming experience. Governments in key countries are supporting blockchain adoption, fostering industry growth. Finally, the increasing penetration of cryptocurrencies is facilitating in-game purchases, encouraging the expansion of blockchain gaming ecosystems.

Latin America Blockchain Gaming Market Analysis

Robust growth is witnessed in the Latin American blockchain gaming market on account of increased adoption of decentralized technologies, led by rising demand for play-to-earn gaming models. Along these lines, gamers embrace blockchain-based games due to ownership of in-game assets and transparency in the reward systems. According to the government of Canada, the Brazilian gaming market stands as the largest in Latin America and ranks 10th globally, with revenues exceeding CAD 3 Billion (USD 2.1 Billion) in 2021. 

Middle East and Africa Blockchain Gaming Market Analysis

The blockchain gaming market in the Middle East and Africa is growing due to the increased adoption of blockchain technology, making transactions more transparent and secure for gamers. Blockchain developers are using the innovation for the play-to-earn models to attract gamers seeking monetization opportunities. Growing internet penetration and smartphone usage in the region increase accessibility to blockchain games. The UAE government reports that the UAE is one of the most digitally connected countries in the world, with an impressive internet penetration rate of 99.15% in 2019.

Leading Blockchain Gaming Companies:

Market players in blockchain gaming are actively driving innovation by integrating decentralized technology into gaming ecosystems. Companies have developed play-to-earn (P2E) models, where players can win cryptocurrency or NFT through in-game activities and make new revenue streams. A few leading players also made investments in partnerships with blockchain platforms to improve the security, transparency, and scalability of games. Startups and established gaming companies alike are using NFTs to allow the ownership of in-game assets that can be transferred or sold across platforms, thus increasing user engagement. Moreover, joint efforts by game developers and blockchain technology providers are leading to the development of decentralized metaverse environments. Continuous funding rounds and acquisitions are clear indications of the rapid growth of the sector and the investors' confidence in blockchain gaming.

The report provides a comprehensive analysis of the competitive landscape in the blockchain gaming market with detailed profiles of all major companies, including:

• Animoca Brands Corporation Limited
• Dapper Labs Inc.
• double jump. tokyo Inc.
• Illuvium
• Immutable Pty Ltd.
• Mythical Inc.
• Sky Mavis
• Uplandme Inc.
• WeMade Co. Ltd

Latest News and Developments:

• October 2024: Lamborghini and Animoca Brands have teamed up and launched its Web3 initiative with Fast ForWorld, a new digital platform. This integration brings in interoperable digital supercars, which are set to hit the gaming world, hence giving gamers a new immersive experience of interacting with the brand Lamborghini.
• October 2024: Ubisoft, the popular French video game developer and publisher of big franchises such as Assassin's Creed, Far Cry, and the Tom Clancy series, said it would launch its first Web3-enabled game. Champions Tactics: Grimoria Chronicles is also released and integrated into the Oasys layer-2 Home Verse blockchain-driven ecosystem that is specially designed for Web3 gaming.
• December 2024: EtherWizards is a new blockchain-based gaming platform launched that has been causing immense interest across the gaming, investment, and blockchain sectors. GameFi and NFT technologies were integrated with this platform to position itself as an attraction point for gamers, investors, and blockchain enthusiasts.

Blockchain Gaming Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the blockchain gaming market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global blockchain gaming market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the blockchain gaming industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.