In 2023, blockchain gaming recorded investments of 2.3 billion dollars. Those data, provided by DappRadar, a monitoring platform for decentralized apps, shows that $600 million was invested in the blockchain gaming sector in the third quarter of 2023.
Among investments in Q3 2023, $213 million went into the development of games and technologies related to the metaverse, despite some declaring it dead. According to DappRadar, the remainder of the quarter's investments went to gaming infrastructure and Web3 investment firms.
The unstoppable growth in the Blockchain gaming market tells about a well-stocked duo: video games and blockchain technology. Hard data collected by Fortune Business Insights indicates an annual growth of the blockchain gaming market between 2017 and 2021 of 21.8%, confirming not only the current robustness of the sector, but also a constantly rising trend. The outlook for 2030 promises an era of unprecedented innovation in the gaming world.
Growing interest in non-fungible tokens (NFTs) and the ever-widening adoption of blockchain technology in gaming is driving a wave of growth. Regions such as North America, Europe and the Asia-Pacific, especially China, Japan and South Korea, are set to play a leading role in this development. North America Leads the Blockchain Gaming Field. In 2022, there was generated over $30 billion from industry sales, capturing approximately 24% of the global market share. This dominance seems destined to persist over time, keeping North America as the undisputed leader. Role Playing Games thanks to their immersive worlds and distinctive characters integrate perfectly with blockchain technology, offering innovative opportunities. In 2022, they accounted for more than 33% of the blockchain gaming market's total sales. The conclusion we have to underline is that this growth shows an important way of using blockchain for free time purposes and this means a new revolutions are coming with the web 3 as protagonist.
SOURCES: Cryptonews
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
