Market Size and Growth.

The global gaming market (hereafter referred to as the market studied) was valued at USD 176 billion in 2020 with 2.7 billion gamers globally, and it is expected to reach a value of USD 217.9 billion by 2023, registering a CAGR of 9.4% over 2018-2023. Over the same period, the blockchain gaming market, which is currently valued at $1.6 billion is expected to grow to $50 billion by 2025. There are currently over 1042 blockchain games in the market. ‘Play-to-Earn’ has unlocked a new understanding of what players should expect from their experiences, and meteoric growth in early Play-to-Earn gaming experiences suggests massive interest from the gamers about how the communities they build should reward them. This trend will only increase.

There has been a massive surge in consumer interest in video games, even from non-traditional demographics. Companies like Microsoft, Nintendo, Twitch, and Activision have posted record numbers. In April 2020, Microsoft reported that subscribers to Xbox Game Pass, a Netflix-like subscription service, topped 10 million. Among those subscribers, Microsoft also reported a 130-percent increase in multiplayer engagement across March and April.