Global Blockchain Gaming Market

Frontier recently released a new report on the growth of the use of crypto in gaming. Given the widespread use of play-to-earn (P2E) games, their integration appears inevitable. It seems players are getting more eager to see cryptocurrency integrated into well-known game franchises.

Continue reading as we cover the growing popularity of cryptocurrencies in games, the top crypto games available right now, and the games that fans would like to see incorporate cryptocurrencies into gameplay.

Choose Your Crypto

The majority of gamers, as per Frontier’s research, think that blockchain holds the key to the future of gaming. In anticipation of higher game quality, more than 50% of them support incorporating cryptocurrency into the gaming industry. 

Video game companies may be forced to work with cryptocurrency start-ups or create P2E games due to the rising trend of cryptocurrencies in video games. The research also demonstrates that cryptocurrency in the gaming sector could be more than simply a fad; rather, it could turn into a reality that will shape the sector. 86% of players have already engaged in crypto video games. They have done this in just three months, returning an average profit of $1,000.

blockchain gaming
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The majority of gamers (42%) changed their gains to cash, but some did so in favor of bitcoin (39%) or game-related investments (38%). Other popular options included putting money to a savings account (36%), using it to purchase other cryptocurrencies (36%), and doing both. 

The market for gaming coins has already expanded significantly inside bitcoin trading. In 2021, they were in charge of 50% of all blockchain transactions, and they sold $2.32 billion worth of in-game collectibles in just the 3rd quarter. Also, the cryptocurrency token $SAND, which is used in The Sandbox, the top game among Frontier survey participants, achieved a market cap of $772 million last month.

The Best Crypto Games

When the study was conducted, the most popular video games with in-game cryptocurrencies among respondents were, The Sandbox, Battle Infinity, Lucky Block, Star Atlas and My Neighbor Alice.

By accomplishing specific tasks in these games, users can gain access to digital assets, which they can then exchange for US dollars. Nonetheless, players also expressed interest in seeing Bitcoin included in well-known game series like:

  • PlayerUnknown’s Battlegrounds (PUBG)
  • Candy Crush Saga
  • Call of Duty
  • Overwatch 2
  • Minecraft

About 80% of poll respondents claimed that if popular games provided crypto assets or awards, they would engage them regularly rather than other games. This shows how alluring in-game currency incentives like those in Minecraft are. This demonstrates the enormous commercial viability of video game developers who include cryptocurrency into their offerings.

Metaverse Is the Next Stop

 Image Source: The Coin Republic.

Even as cryptocurrency and gaming coins continue to trend, many players could also be interested in having them join the metaverse. 90% of the people who responded to Frontier’s survey said they would also like to see titles that are only available in the metaverse.

Given that the study also discovered that the majority of gamers would probably convert entirely to crypto gaming if their preferred games included crypto. This may point to the potential existence of a completely new market inside the metaverse.

Any investment/financial opinions expressed by Play to Earn Diary are not recommendations. Our content is for educational purposes only. If you plan to invest in any game or cryptocurrency then please do your own research and only spend what you can afford to lose.

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