Blockchain gaming is a rapidly growing industry that has the potential to revolutionize the way we play video games.
As more gamers, developers, and publishers embrace blockchain gaming, it is expected that this market will grow from $4.6 billion in 2020 to an estimated $65 billion by 2027.
But when will blockchain gaming go mainstream? Will 2023 be the year of adoption? This article explores these questions and more as it dives into what’s happening in the world of blockchain gaming today.
What is Blockchain Gaming?
Blockchain gaming refers to the use of blockchain technology in the creation and distribution of games.
Therefore, blockchain games are built on decentralized networks, allowing users to own their in-game assets and protect them from third parties. And unlike traditional online games which rely on centralized servers controlled by developers, blockchain games offer players more control over their data and in-game assets.
This makes it possible for gamers to trade game items with each other without needing permission from the game developer or relying on a centralized server.
As a result, blockchain gaming is becoming increasingly popular among gamers who want more ownership over their in-game experience and greater security for their investments.
With its unique advantages, blockchain gaming has the potential to transform the world of online gaming – making it safer, fairer, and more rewarding than ever before.
Overview of the Blockchain Gaming Market
The blockchain gaming industry has had its fair share of struggles in recent years. However, in 2022, the market has begun to show signs of recovery and increased adoption. A recent DappRadar report points to the resilience of the blockchain gaming sector.
Despite the collapse of FTX, November saw blockchain gaming activity surge with an average of 800,875 daily unique active wallets. This is a significant increase from October which had an average of 614,902 daily unique active wallets.
Furthermore, Wax has established itself as one of the leading gaming protocols. With over 340,000 average daily unique…