Digital currencies have now become the backbone of the gaming industry, attracting more and more enthusiasts to the gaming industry with a stunning growth. In this report, we will examine the potential of this industry by providing statistics and information.
To Report Bitcoinist, according to the data of Triple A company, it is estimated that the value of the game industry will reach something like 350 billion dollars by 2027.
According to this report, 48.6% of digital currency owners are willing to use their currencies in online games or bets in the future. Last year, 25.1% of bitcoin owners used their bitcoins in online games or bets, and this shows the potential of this field. It is predicted that the value of the gaming industry will reach 340 billion dollars by 2027.
Blockchain games are more than just a fad
Like it or not, blockchain is now a popular keyword in the gaming industry. There are different terms to call these games, blockchain game, cryptocurrency game or even non-currency token (NFT) game.
Although the idea that games can be a key factor in attracting users to blockchain platforms is popular among the Web 3 ecosystem, gamers themselves have resisted accepting this idea for a long time.
Blockchain games are not recognized in the large and serious gaming ecosystem of the gaming industry, but why? Of course, for most gamers, environmental issues or the fear of the risk of the wrong people interfering with the use of the term “Blockchain” is not a big issue.
It seems that what has hindered the adoption of blockchain games among the majority of gamers is that there are actually no blockchain games capable of dominating the mainstream gaming market.
More than a third of people in the world are gamers. Microsoft Xbox, G2A, Twitch, these are just some of the big names that have invaded the digital currency industry.
Digital currencies and the evolution of GameFi
Digital currencies, both in terms of payment methods and game economy (GameFi), have created a significant revolution in the commercial sector of games. Due to the increasing acceptance of digital currencies by gamers and intermediaries, evidence suggests that gaming companies will experience significant development in this sector in the coming years.
According to Triple A data, the price of Bitcoin has increased by 540,000 percent between 2012 and 2021. 47% of this market belongs to Bitcoin. Apart from these cases, according to the expectations of some experts, it is predicted that this market will face a compound annual growth rate (CAGR) of 56.4% between 2019 and 2025.
Accordingly, the United States of America, India, Pakistan, Nigeria and Vietnam are the top 5 countries in terms of the number of digital currency owners. The United States tops the list with 46,020,521 cryptocurrency owners.
Now, considering this high potential, the question that arises is why don’t blockchain game developers make the best possible games? If they don’t have a problem with financing and by creating big games, they will be able to attract the audience of ordinary games. It is also necessary to mention that Web 3 projects, especially projects based on non-traditional tokens, attract millions of dollars in capital, and some investments in this field even reach several tens of millions of dollars.
The truth is that making a good game takes more than money. Creators must have the creativity, talent and ability to create a quality game. It is more important to note that they must continuously commit to developing a quality game.