Everything you need to know about Crypto Gaming Industry
One cannot overlook the crypto’s impact on the gaming industry. The Crypto gaming industry currently makes up more than a third of the global population. We’ll look at crypto gamers’ demographics and how big gaming companies leverage bitcoin to increase their market.
Crypto Gaming Potential
The crypto gaming business generated $321M in revenue, with 41.9 million gamers possessing cryptocurrency. According to Newswagg’s research, Millennials, who range from 21 to 38 years old, make up the largest age group.
Gamers are also considerably more likely to hold cryptocurrency. Fifty-five percent of Millennial gamers own cryptocurrency, compared to only 5% of all Millennials. Eighty percent of gamers who hold crypto want to use it for crypto gaming purchases, and 67 percent believe there will be more opportunities to use cryptocurrencies in gaming in the future.
Owners of the Global Crypto Gaming Industry
With 22.6 million gamers holding cryptocurrencies, the APAC area has the most significant ownership rate. Europe has 5.9 million gamers in the Middle East and Africa, Latin America, and North America regions.
Gaming and cryptocurrency revenue on a global scale
The Asia-Pacific region, with US$157.3 million in revenue (49 percent), was followed by North Americans with US$80.3 million (25 percent), Europe, Latin America, the Middle East, and Africa.
Revenue from crypto gaming platforms
Mobile games brought in the most money (40%) with $128.4 million, followed by Console games ($89.9 million), Downloaded/Boxed PC games ($89.9 million), Tablet games ($89.9 million), and Browser PC games ($89.9 million).
The crypto market has experienced strong growth over the last week with market cap exceeding US$21trn for the first time since Mid Jan.
— Crypto Gaming United | CGU (@CryptoGamingUtd) March 29, 2022
Cryptocurrency data by major gaming corporations:
Players can accumulate and trade virtual assets using cryptocurrencies, which they can exchange and trade anywhere in the world. As a result, it provides a safe and straightforward way for the gaming industry to make money.
Online gaming, in particular, is famous for innovative ideas in this field. Crypto gaming developers are developing creative ways to use cryptos to buy and sell in-game items, cosmetics, unlock characters, and more.
Cherry Credits is a prominent game publisher and developer of micropayment solutions for digital content and gaming channeling. They have teamed up with TripleA to offer cryptocurrencies as a new payment option.
Also, read – Key terms in the world of blockchain gaming
The future of crypto gaming
With big gaming firms like Microsoft Xbox, Twitch, and G2A joining the bitcoin field, cryptocurrency has gained appeal in the gaming business.
Crypto games revolutionize the gaming industry by allowing gamers to earn money while playing. As more gamers accept cryptocurrency, gaming companies will have a vast market potential to reach crypto enthusiasts worldwide.