Why the Crypto Gaming Industry is Gaining Traction

Crypto Gaming Industry

Last Updated on March 13, 2024 by Team Experts

You should use caution when choosing an industry to engage in, as investing does not come without danger.

Naturally, some industries can provide higher profits even though they are seen as riskier. However, even if certain investments are much safer than others, it may take some time before you get a sizable return. However, gaming is one of the more intriguing industries among the many you might invest in.

The gaming industry and community are growing faster than other forms of entertainment.

The billion-dollar gaming sector has many players playing games professionally nowadays. You should keep reading even if you have no interest in online games since you’ll discover how you can become a successful investor.

The popularity of online gaming and the major gaming companies has grown over the past few years. 

In today’s blog, we’ll discuss why investing in the gaming industry is beneficial for investors! 

Why Should You Invest in the Gaming Industry? 

The sector keeps expanding and getting stronger. Here are some reasons for investing in the gaming industry:

#1. High market growth

According to the research, the game market was projected to reach USD 173.70 billion in 2021. It is predicted to reach USD 314.40 billion by 2027, so there is still room for growth.

People are playing video games for longer than ever, which is the cause of this. And given that there are 3.24 billion gamers worldwide, it makes sense that more people are making investments in the gaming sector. 

#2. Web3 Adoption

Web3 has substantially altered the online gaming sector by enabling community-led growth. Experts note that the US and India are best positioned to drive the rise in Web3 gaming because they are two of the largest marketplaces for gamers and cryptocurrency users.

Another reason investors are investing heavily in the gaming business is the promise of Web3. 

The technology of blockchain is intriguing since it dramatically increases transparency. It’s also fascinating because if a gaming studio uses blockchain, they might turn each game into a source of income by distributing tokens. If players accumulate tokens and their value increases, they may be sold again on the open market, allowing monetization. 

Play-to-earn games compensate players for their dedication or successful completion of specified in-game tasks with real-world dollars. The play-to-earn component will undoubtedly promote more adoption in a developing market because of the players’ economic opportunities. 

#3. The rise in mobile gaming

The popularity of mobile gaming is encouraging an increasing number of people to invest in the sector.

The mobile game made an estimated 10.73 billion dollars in revenue in the United States alone. Additionally, it is predicted that the number of mobile video game players in the United States will rise from 150.45 million in 2020 to 181.3 million in 2025 as a result of technical developments and lockdowns brought on by the coronavirus pandemic. 

#4. eSports

The concept of esports was unknown not so long ago. But now, the audience for eSports is 435.9 million users.

The most recent iteration of competitive gaming is called eSports. It is the brand-new manifestation of electronic sports, which has seen a recent surge in popularity. Additionally, interest in entrepreneurship and investing grows along with viewing. 

Moving ahead, let’s discuss this,

Top Gaming Platforms to Look for in 2023

There is additional information you should think about before investing; these are merely the fundamentals of how various gaming companies function. We can provide a few tips to get you started, even if we can’t cover all the factors you need to consider.

To help you out, we’ve put together a short list of some of the most prominent gaming coins to look out for in 2023:

#1. DeRace

One of the most creative play-to-earn metaverses, DeRace, powers breeding and entry fees with $DERC, its native token. It’s an original concept to create an NFT horse racing metaverse where you may race and breed NFT horses with unique characteristics.

In addition to helping you create your hippodrome and earn additional $DERC outside of owning racehorses, DeRace has a sizable social media following.

Users can purchase NFTs for various horses because DeRace is a metaverse project. They can then register their horse, race it, place bets on it, and cash in on any victories. 

#2. My Neighbor Alice

One of the best multiplayer farms is called My Neighbor Alice. Six islands allow players to purchase land, farm it, and purchase animals from the market. Many players will be reminded of the Animal Crossing series by its whimsical look. This may indeed be more user-friendly for beginners than most blockchain games.

The in-game money is represented by ALICE tokens. The players can get ALICE tokens by completing tasks, and they are utilized for marketplace purchases. Holders of tokens can also stake cryptocurrency and profit. 

#3. STEPN

With the move-to-earn crypto platform focused on lifestyle and wellness, STEPN aims to change the play-to-earn industry. STEPN and its GMT tokens are among the top gaming cryptocurrency coins to buy in 2023 due to several factors. It is firstly hosted on the quickly expanding Solana blockchain. Thus, it is anticipated to gain a lot from the millions of users that are expected to join the SOL network over the coming months and years. 

Most people in the crypto sector are aware of STEPN’s potential and have rushed in to buy as much GMT as possible. This explains why the token, which is only a year old, already has a live market cap of $238 million and had a 40000%+ increase in GMT token price within the first three months of launch.

#4. Axis Infinity

Users of Axie Infinity buy, breed, and compete with Axies against one another to win small love potions, an in-game commodity that can be exchanged for real money. It adheres to the “Play to Earn” business model.

A non-fungible token (NFT) is a unique collectible that can be bought or sold on outside exchanges. Each Axie is one of these NFTs.

Players can regularly distribute their tokens. There are two different types of tokens in the game: Small Love Potion (SLP) and Axie Infinity Shard (AXS). Players commonly accumulate and withdraw SLP as payment. Owners will have a say in how the game is developed once the AXS governance token is adopted. 

How to get started?

If you want to make smart investments and, at the same time, you’re a gamer, investing in a market you’re already interested in is a terrific approach to making smart money maybe and keeping up with your favorite industry since you can invest in your preferred video game stocks even if you lack the expertise to become a professional gamer. 

A wise place to start is by first gaining a thorough understanding of the gaming sector and prospective top stocks to acquire. Consider whether you want to invest in a Crypto fantasy game, which has endured and continues to have support from players worldwide and has a lot of potential. 

Conclusion

A growing number of people view the gaming industry as a means of fostering investments and developing skills. The development of the video gaming ecosystem will be fueled by demographic changes, shifting consumer preferences, cord-cutting, Internet usage, and technological breakthroughs.

Read more: Gaming Stocks – How to Invest in the Video Games Industry

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Passionate content writer with 4 years of experience specializing in entertainment, gadgets, gaming, and technology. I thrive on crafting engaging narratives that captivate audiences and drive results. With a keen eye for trends and a knack for storytelling, I bring fresh perspectives to every project. From reviews and features to SEO-optimized articles, I deliver high-quality content that resonates with diverse audiences. Connect with her on LinkedIn

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