Game Studios / Game Industry
Last updated
Last updated
The video game industry is predicted to be $500 Billion by 2028, and Web3 games. Video games are a bigger industry than movies and American sports combined, thanks to the pandemic. 318 Million people watch esports regularly and another 322 Million watch occasionally. The last four years esports popularity has soured bringing new fans, semi-pro and pro players together engaging more closely in platforms such as YouTube, Twitch. And TikTok.
In 2021, lead by the efforts of Axie Infinity, Decentraland, Sandbox, and other metaverse projects the Web3 gaming space was catapulted into the heart of gamers of all kinds. In today’s markets there are no gamers that do not know about Web3 gaming, even if they are no longer playing then. Now with in-game assets moving to blockchain and in-game rewards exploring cryptocurrency, we are going to start seeing a new style of gamers where they want to capitalize their time and efforts to more monetary and further social interactions of making a living from gaming. This is no longer a hobby, it's a full time system of earnings similar to trading collectables on Ebay and gambling on online casinos.
“The global video game market is currently estimated to be somewhere between $150-200 billion as of late 2021, with some estimating the market could actually be as large as $336 billion “ - Supra Oracles “Crypto and blockchain gaming is perhaps the fastest-growing and most exciting trend in both the video gaming and the blockchain industries.” - Supra Oracles https://supraoracles.com/academy/crypto-and-blockchain-gaming-the-complete-guide/
In 2023, we’ll continue to see web2 game studios push deeper into Web3 and enter what we consider “Stage 4” of Web3 gaming adoption.
Stage 1: Monitoring and internal experiments (e.g., Ubisoft’s Entrepreneurs Lab accelerator program, which has admitted Web3 gaming studios).
Stage 2: Invest in Web3 gaming start-ups to obtain an even deeper understanding of how Web3 enhances web2 gameplay and the underlying technology (e.g., Ubisoft’s and Take Two Interactive’s investment in Horizon Blockchain Games).
Stage 3: Web2 game studios create Web3 gaming subsidiaries, often in partnership with crypto-native companies and investors (we can’t publicly disclose any of these, but we saw quite a few of them in 2022).
Stage 4: Established web2 game publishers will incorporate elements of Web3 — specifically NFTs and crypto payments — directly into their web2 games (not via stand-alone subsidiaries). - Blockworks https://blockworks.co/news/web3-gaming-2023
The rapidly growing gaming space is projected to reach $260bn by 2025
https://www.galaxy.com/research/whitepapers/history-of-gaming-and-web3-future/
