Nairobi Kenya: Mobile Game Development Studio has joined the Blockchain Games Alliance to promote its games for social good and democratize access to the games.
According to Jay Shapiro, CEO and Founder, Usiku Games, the company will harness the power of Blockchain technology to create a meaningful positive social impact and fulfill its #GamingForGood mission:
“Blockchain gaming, Play to Earn, and NFT’s have a lot of misdirected Hype these days. We are focused on applying these powerful tools to make a real social impact for the millions of youth in Africa without long-term savings or health insurance through gaming.”
NAAVIK indicates that the blockchain gaming industry’s trading volume grew 700%+ to $2.3 billion in 3Q 2021, and 50% of blockchain gamers use PCs.
On the other hand, Triple-A notes that the crypto gaming industry had a 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 than others— 55% of the Millennials gamers own crypto 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% are interested in using cryptocurrency for gaming purchases, and 67% hope there are more opportunities for using cryptocurrency in gaming.
In addition, 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.
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.
Despite fragmented distribution and confusing UX, the blockchain gaming industry is growing rapidly. And perhaps, that’s the strongest validation of the industry’s product-market fit. There are, however, crypto-native start-ups trying to solve the distribution problem. For example,Ultra.io,Vulcan Forged, andOP Games are new platforms aiming to distribute blockchain-based games.
Meanwhile, crypto-native game studios like Mythical Games, Immutable X, and Sky Mavis have expressed interest in or have already begun allowing third-party developers to access their technology stack and existing users. It’s potentially a massive opportunity as long the industry continues on its current trajectory, and legacy platforms continue to choose not to participate.
About Blockchain Game Alliance
The Blockchain Game Alliance is an organization committed to promoting blockchain within the game industry.
Our goal is to spread awareness about blockchain technologies and encourage adoption by highlighting their potential to foster new ways to create, publish, play, and build strong communities around games.
The BGA also provides an open forum for individuals and companies to share knowledge and collaborate, create common standards, establish best practices, and network.