Gaming Industry To Value $340 Bln By 2027; Crypto Play Vital Role
Triple A’s latest crypto ownership data has made some startling revelations that might amaze the crypto community. Triple A’s data has shown that in the future 48.6% of crypto owners will consider spending cryptocurrency on online gaming or gambling.
This is greater than 25.1% of crypto owners who had used cryptocurrency for this purpose, last year. It is to be noted that online gaming or gambling has witnessed a boom in the last few years, and the gaming market is anticipated to reach a value of US$340 billion by 2027. This has come at a time when the heavy presence of crypto-gambling on Twitch streamers for over a year, is attracting more audiences and garnering increasing controversy.
Gamers constitute over 1/3 of the total population in the world. The top gaming companies which have entered the cryptocurrency space include – Microsoft Xbox, G2A, and Twitch.
Be it in terms of mode of payments or gamefi, Cryptocurrency has changed the gaming industry a great deal. A close analysis of the industry thus tells us that gaming companies will see a vast market opportunity in the coming years given the increased acceptance of cryptocurrencies among gamers and the organisers.
Bitcoin price up by 540,000% from 2012 to 2021
Triple A’s data shows that Bitcoin’s price has jumped as high as 540,000% between 2012 to 2021. Bitcoin also constituted 47% of the total market capitalization of cryptocurrencies in 2021.
This apart, the cryptocurrency market is forecasted to grow with a compound annual growth rate (CAGR) of 56.4% from 2019 to 2025.
US holds highest number of crypto holders
As per the data, the top five countries basis of the highest number of crypto holders include the US, India, Pakistan, Nigeria, and Vietnam. The United States top the list with 46,020,521 crypto owners.
In addition to the gaming industry, other prominent sectors which accept cryptocurrency include E-commerce, luxury goods, and Remittance. It is believed that Crypto remittance is 388 times faster and 127 times cheaper compared to traditional remittance methods.
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