Web3 Gaming Market Size & Share, Growth Outlook 2024-2032 (2024)

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Report ID: GMI10209
Published Date: Jul 2024
Report Format: PDF

Web3 Gaming Market Size

Web3 Gaming Market size was valued at USD 26.38 billion in 2023 and it is anticipated to register a CAGR of over 19.2% between 2024 and 2032. The rising popularity of NFTs is substantially impacting the market. NFTs represent digital assets such as music art, videos, and in-game items. These assets traded with cryptocurrencies and they typically encoded with same underlaying software as cryptos. This uniqueness and ability to prove ownership and provenance digitally have made NFTs particularly valuable.

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In the gaming industry, NFTs provide players with true ownership of in-game assets. This means players can buy, sell, and trade items, such as characters, weapons, and virtual land, just as they would physical goods. This ownership is secured by blockchain, which ensures that these assets cannot be duplicated or tampered with. The ability to monetize gameplay through sale of NFTs creates new economic opportunities for players. For instance, in June 2024, Wild Forest, a web3 real-time strategy game, launched an NFT collection called the Lords.

Web3 Gaming Market Report Attributes
Report Attribute	Details
Base Year:	2023
Web3 Gaming Market Size in 2023:	USD 26.38 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	19.2%
2024 – 2032 Value Projection:	USD 125 Billion
Historical Data for:	2021 – 2023
No. of Pages:	270
Tables, Charts & Figures:	367
Segments covered:	Game type, device type, in-game purchase, mode, industry, and region
Growth Drivers:	Increasing adoption of blockchain technology Growth of Non-fungible Tokens (NFTs) Growing popularity of Play-to-earn (P2E) models Enhanced security and transparency Increasing investment and funding
Pitfalls & Challenges:	Technical complexity Volatility of cryptocurrencies and NFTs

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Frequently Asked Questions (FAQ) :

The market size of Web3 gaming reached USD 26.38 billion in 2023 and is set to witness over 19.2% CAGR from 2024 to 2032, due to the rising popularity of NFTs.

The virtual worlds game type segment in the web3 gaming industry recorded over 27.5% revenue share in 2023, as they offer immersive expansive environments where players can interact, create, and explore.

The VR/AR device segment in the web3 gaming market is estimated to record over USD 18 billion by 2032, led by the increasing affordability and accessibility of VR/AR devices.

North America market accounted for over 35% share in 2023, owing to strong technological infrastructure and high concentration of blockchain, gaming companies, and tech-savvy gaming population.

Web3 Gaming Market Scope

Web3 Gaming Market Size

Web3 Gaming Market Trends

Web3 Gaming Market Analysis

Web3 Gaming Market Share

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Premium Report Details

Base Year: 2023
Companies covered: 25
Tables & Figures: 367
Countries covered: 21
Pages: 270

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