40% of the world’s population are gamers, so what role do blockchains play?

Gaming has become a global phenomenon with over 3.1 billion people (nearly 40% of the world’s population) playing video games. Furthermore, the eSports market, a significant segment of the gaming industry, is experiencing rapid growth. It is projected to expand from $2.06 billion in 2024 to $9.29 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 20.7% during this period; North America accounted for a market value of $0.50 billion in 2023. And high-stakes tournaments are a hallmark of the eSports scene, with ‘The International 2021’ offering the largest prize pool to date at over $40 million. The most recent Dota 2 tournament, ‘The International 2023’ (held in Seattle), had a prize pool of around $3.38 million so continuing the tradition of significant financial rewards for top players.

McLaren bring F1 to eSports

Source: Teamblockchain

Meanwhile, the gaming market in the Philippines is experiencing robust growth and significant economic impact within Southeast Asia. With 43 million gamers spending a collective $572 million last year, the Philippines emerged as the 25th-largest gaming market globally, underscoring its growing importance in the industry. Gaming has become deeply ingrained in Filipino culture with an impressive 95% of internet users actively engaging in gaming activities, highlighting its widespread adoption across the nation. Beyond its economic impact, gaming has also made substantial cultural and global strides. The recent integration of the America’s Cup into eSports exemplifies this trend with the launch of the AC Sailing simulation video game and the inaugural America’s Cup E-series attracting top virtual sailors worldwide. This innovative approach not only expands the reach of sailing but also demonstrates the evolving nature of eSports and gaming as platforms for immersive experiences.

Moreover, technological advancements such as Sony Bank’s trials with stablecoins on the Polygon blockchain illustrate the increasing intersection of gaming, finance and blockchain technology. Sony Group’s strategic investments in Web3 technologies further highlight efforts to leverage digital innovation across its vast intellectual property portfolio, encompassing Sony Pictures, Sony Music and Sony…