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Gaming Sector To Be Worth $340B By 2027 As Crypto Sector Progresses
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Gaming is gradually receiving attention in the crypto space. The use of blockchain in developing some gaming platforms is increasing as more people now embrace virtual assets. Also, non-fungible tokens (NFTs) have been acting as the catalyst for accelerating users’ engagement in virtual gaming.
While considering the trend in the gaming industry, which tilts toward the use of digital assets, Tripple A gave shocking data.
According to the recent ownership data of Tripple A, there will be a rise in digital assets spreading on virtual gaming. The data indicated that over 48.6% of cryptocurrency owners would engage in such spending in the future.
Tripple A Data On Gaming
The value which Tripple A data quoted has shocked the digital community. Over 25.1% of asset owners recorded last year used digital assets for online gaming. The data noted that over the past few years, there has been a rise in online gaming and gambling. Also, it’s anticipating a more significant spike in the gaming market by 2027 as it could hit $340 billion.
Regarding gamers worldwide, there is a shocking record that they made up one-third of the global population. The digital currency space now has some prominent gaming firms such as Twitch, Microsoft Xbox, and G2A.
In addition, some online gaming streamers have significantly impacted crypto-gambling by joining the digital space. As a result, the overall impact over the past year has attracted more audiences even as controversies are rising.
Also, digital assets as a payment option in the gaming industry has changed some processes. More organizers and gamers are moving with the new trend, which has increased the acceptance of digital assets. Also, a future prediction creates wider market opportunities for gaming companies.
Cryptocurrency falls on the day chart | Source: Crypto Total Market Cap on TradingView.com
Besides the gaming industry, other sectors accept digital assets. These include Remittance, E-commerce, and luxury goods. The use of digital assets in remittance is gradually taking over traditional measures. Crypto remittance proves to be 127 times cheaper and 388 times faster than conventional options.
Tripple A’s data further revealed the top 5 nations with the highest number of crypto holders. These are the US, Pakistan, Vietnam, Nigeria, and India, with the US having over 46 million token holders.
Analysis Of Growth And Performance Of Crypto Sector
Additionally, Tripple A data used Bitcoin analysis to estimate the potential profitability awaiting the gaming industry. The data captured that the leading global cryptocurrency represents about 47% of the total crypto market cap in 2021.
Also, Bitcoin experienced an increase of about 540,000% from 2012 to 2021. The data also examined the crypto market’s compound annual growth rate (CAGR). The forecast for 2019 to 2025 places the CAGR at 56.4%.
Featured image from Pixabay, chart from TradingView.comGain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
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