PlayFuel is a platform that bridges blockchain and gaming together. Read how e-Sports progressively penetrates the gaming industry.
Electronic sports, or simply e-Sports, is a type of competition that involves the use of video games. Others say it is just a waste of time, yet some prefer to call it art. Whether you are one of those hooked gamers who pull all-nighters just to finish a game or you only watch and cheer your friends who do it, we can all agree that video games are just pure fun.
“Video games are bad for you? That’s what they said about rock ’n’ roll.” — Shigeru Miyamoto, Nintendo
More than before, video games are becoming the center of the gaming business. Players nowadays engage through gaming in a whole different way. Growth in interest and engagement led to an entirely new segment of game enthusiasts.
There are now over 2.5 billion video gamers around the world who are projected to spend an estimated amount of $149 billion on game purchases. Notably, an increase of +7.2% per year is expected within this sector.
Global Gaming Market
In 2019, mobile gaming retained its seat as the largest segment in the Global Games Market, with $54.7 billion worth of revenue. When combined, the smartphone and tablet gaming segments have generated a revenue of $68.2 billion, accounting for 46% of the total global market sales.
Among all the fields in the market, the gaming industry is in a healthy state as it shows growth in each of its segments. Console games were also a hit as it is the second-largest segment with revenues of $45.3 billion.
Significantly, the entire PC segment has generated $35.3 billion in 2019 and is the third-largest segment. On a GDC-State-of-the-Gaming-Industry survey, developers were asked on which platform they prefer to develop their games. The PC games rank first with an average of 60% versus other gaming platforms.
Expanding Market
Key Insights on Gaming Market Size — Global Forecast 2019–2023
The gaming market has gone through significant changes over the years due to technological advancements such as artificial intelligence (AI) and virtual reality (VR). Following the steps of these innovations, the integration of blockchain technology is now considered to be one of the key drivers for the gaming market.
The blockchain technology will disrupt the gaming industry and this will be felt not only by gamers but also the developers and entrepreneurs. Benefits for the gaming community include real-world ownership, cross-game communication, cost reduction, and value creation. Through blockchain integration, the growth rate of the gaming market size is expected to accelerate more.
Between 2019–2023, the outlook for the global gaming market’s CAGR is positive as it will step up by over 10%. The PlayFuel Team sees this as a window of opportunity to target the growing global gaming market. Our unique blockchain intends to connect the blockchain and gaming industries together to provide a whole new level of gaming experience.
Rise of e-Sports
The rapid growth of consumer interest in gaming and eSports has caught the attention of many gamers especially the millennials and Generation Z. eSports tournaments are huge and competitive events wherein blockchain can play an important role in terms of securing and providing a more efficient game flow.
Based on the survey conducted by Newzoo, the eSports audience grew to over 450 million in 2019.
According to the survey, out of the total number of eSports audience, more than 200 million of them are eSports enthusiasts. This number is forecasted to multiply by 28.2 million year-on-year and is expected to reach 300 million in 2022. On the other hand, the number of global occasional viewers has increased to over 250 million. This number is believed to increase to approximately 348 million by 2022.
Moreover, mainstream entertainment is one of the major factors that help drive the eSports awareness worldwide through linear video platforms and other media. China stands to be the leading contributor to eSports awareness, contributing to over 500 million eSports-aware people around the world.
Conclusion
PlayFuel is a blockchain-based gaming platform that allows gamers on its platform to earn while they play. It also provides developers a sanctuary where they can create groundbreaking games that conquers the craving of every gamer.
PlayFuel also aims to revolutionize the gaming landscape through its state-of-the-art technology. Read more on the 10 reasons how PlayFuel will disrupt the gaming industry.
