📈Market overview

According to the latest Crypto.com Research and Insights Team: Global crypto owners increased by 39% in 2022, rising from 306 million in January to 425 million in December. August and September saw exceptionally strong monthly growth rates of 5% and 8.1%, respectively.

So, crypto adoption in 2022 achieved new milestones, with the number of crypto owners reaching 425 million in spite of macro headwinds, namely high inflation, the conflict in Europe, supply chain disruptions, and lingering effects of the COVID-19 pandemic.

Current Playerbase of GameFi Is Around 1M Daily Gamers. As for the GameFi market, it has exponential growth. It is estimated Crypto.com that the total GameFi market cap is $55.38B, as of 11 February 2022. DappRadar estimated that there were 1.09M daily blockchain gamers, as of 13 February 2022.

Starting with 1.06M in Q1 2022 (1 February 2022), the number of daily gamers in GameFi is on track to reach 12M by Q4 2023.

GameFi could see more than a 7X increase on the 1.4 million active wallets that interacted daily with blockchain gaming apps as of late 2021. We will see 10 million wallets interacting daily with blockchain games before the end of 2023.

Co-founder YGG, Gabby Dizon.

GameFi Market Expected to Grow at 100% CAGR. Naavik and BITKRAFT Ventures estimated that the blockchain gaming market will grow at a CAGR of 100%, from $1.5B in 2021 to $50B in 2025. This is 10 times the forecasted ~10% CAGR for the traditional gaming industry.

According to a report from Naavik and BITKRAFT, the primary revenues of blockchain gaming ($1.5B) will come from video game NFT primary sales ($0.1B), blockchain virtual world NFTs ($0.1B), and revenues from game economies ($1.3B).

We outline some of the factors that could be the key economic drivers of our growth estimation.