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Market overview
Gamer population and global spend on constant rise
Nearly one in three people on earth are now playing video games. That’s 2.1 billion individuals playing at least once a month. The average profile of a PC gamer is a 35-year-old who has been playing for 13 years and has strong purchasing power.
The global gaming market was valued at USD 162.32 billion in 2020 and is expected to reach a value of USD 295.63 billion by 2026, registering a CAGR of 10.5% over the forecast period (2021 – 2026). *Source: Mordor Intelligence, 2020
Global ad revenue is growing
Gamers represent a highly valuable demographic that has always been hard to reach - mostly because they have abandoned traditional media. Word-of-mouth, YouTubers, live streamers, and other new channels are how most of these customers make their purchase decisions.
NFTs are making waves worldwide
The NFT explosion is one of the most talked about events for crypto in 2021, with sales from several platforms breaking records on a weekly basis. NFTs collectively had their best month ever in February 2021, according to a report by DApp statistics trackers at DappRadar. Sales volume from the top three platforms grew to $342 million in February, up almost 400% from the $71 million recorded the month before.
Even though NFT’s relative simplicity and low barrier to entry will encourage widespread adoption of cryptocurrency, ultimately few NFTs in comparison will hold and have value moving forward. However, being a part of an in-game ecosystem will dramatically improve the value of such assets.
Competition
Because of the relative novelty of the NFT technology, and our innovative approach of blending the concept of pre-selling NFTs to crowdfund indie games, currently there are no direct competitors for CryptoBullsNft.
However, there are more than a few projects in the market, either focused on building a platform and NFT marketplace or developing blockchain-based games.
Last modified 4mo ago
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