Cryptocurrency in the Gaming industry
Gamers make up almost 1/3 of the world’s population today. It is undeniable that cryptocurrency has made a difference to the gaming industry. Here we will explore the demographics of crypto gamers and how major gaming companies leverage crypto to unlock more market opportunities.
The crypto gaming industry had market revenue of US$321 million in 2020 with around 41.9 million gamers owning crypto. According to Newswagg’s research, 38% of them are Millennials aged between 21-38 years old, and they are the biggest age group.
Gamers are also much more likely to own crypto as compared to others— 55% of the Millennials gamers own crypto as compared to just 5% of all Millennials.
There’s an immense potential for crypto to be more involved in the gaming industry. Among gamers who own crypto, 80% of them are interested in using cryptocurrency for gaming purchases, and 67% hope there are more opportunities for using cryptocurrency in gaming.
The APAC region has the highest ownership rate with 22.6 million gamers that hold cryptocurrency, followed by Europe with 5.9 million gamers, Middle East & Africa, Latin America, and North America regions.
Crypto gamers in the Asia-Pacific region generated the highest revenue of US$157.3 million (49%), followed by North Americans with US$80.3 million (25%), Europe, Latin America, as well as Middle East & Africa.
Mobile games generated the highest revenue of US$128.4 million (40%), followed by Console games with US$89.9 million (28%), along with Downloaded/Boxed PC games, Tablet games, and Browser PC games.
Cryptocurrency has gained popularity in the gaming industry, with top gaming companies like Microsoft Xbox, Twitch, and G2A entering the cryptocurrency space.
Crypto games are now transforming the games market by letting players earn while playing. As more gamers accept crypto, gaming companies have a vast market opportunity to reach crypto gamers worldwide.
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