What is GameFi Market Scope?
The term GameFi is formed from two words game and finance that runs on the blockchain network and allows to earn rewards in the form of digital assets or cryptocurrency. The revolution of the gaming industry and the growing adoption of crypto have accelerated the growth of GameFi among the traditional pay-to-play game players. Increased adoption of GameFi among the investors to earn, trade, and invest in crypto will boost the market in the nearer future. GameFi allows earning crypto by completing game tasks or participating in tournaments. Further, the growing preference of consumers towards online social gaming has created significant opportunities for the GameFi.
The GameFi market study is being classified by Type (NFT Games and Crypto Games) and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Sky Mavis (Vietnam), Riveted Games LLC (Scotland), PIXOWL INC. (United States), Binemon (Germany), Asobo Studio (France), double jump.tokyo (Japan), Animoca Brands (Hong Kong), Codebit Labs (Australia), Third Kind Games (United Kingdom) and Dapper Labs (Canada) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global GameFi market by Type, Application and Region.
On the basis of geography, the market of GameFi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In November 2021, Fold has announced a collaboration with the Pokemon Go developer Niantic for the development of an AR video game that allows earning bitcoins. Fold AR is part of the metaverse and will be a kind of Pokémon GO that allows users to earn rewards every 10 minutes.
Influencing Market Trend
- Increased Focus on Innovation and Development of Online Games by Using AI-Assisted Technology
- Growing Popularity of GameFi or Blockchain-based Games Among the Traditional Pay-to-Win Video Game Players
- High Growth of GameFi as a New Income Opportunity for Investors and Ordinary Players
- Evolution of Metaverse and Rapid Growth of NFT Across the Globe Will Create Significant Opportunities
- Lack of Awareness and Slow Adoption in the Developing and Underdeveloped Countries
- Increasing Frauds and Privacy Concern Due to High Growth Cyberattackers or Hackers
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, GameFi Providers, Online and Social Gaming Companies, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the GameFi market expands?
The Global GameFi market is expected to see a growth of % during projected year 2021 to 2027.
2. Who are the prominent players of the Global GameFi market?
The prominent players of Global GameFi market are Sky Mavis (Vietnam), Riveted Games LLC (Scotland), PIXOWL INC. (United States), Binemon (Germany), Asobo Studio (France), double jump.tokyo (Japan), Animoca Brands (Hong Kong), Codebit Labs (Australia), Third Kind Games (United Kingdom) and Dapper Labs (Canada), to name a few.
3. What are the top priorities to focus for GameFi market’s growth?
In this highly competitive & fast evolving GameFi industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.