"Smart Strategies, Giving Speed to your Growth Trajectory"

GameFi Market Size, Share, & COVID-19 Impact Analysis, By Game Type (NFT Games and Crypto Games), By Device (Android, Windows, iOS, and Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI108516 | Status : Ongoing



GameFi is a blend of gaming, blockchain technology, and decentralized finance, which offers financial incentives through play-to-earn models. As soon as the players finish tasks, compete with each other and progress in the game, they can claim a cryptocurrency or NFT reward. This technology is used to make the relationship between players and game developers more equitable and transparent. The need for a secure, transparent, and decentralized gaming ecosystem is one of the factors that has led to market growth. By providing a publicly available ledger of all transactions, blockchain technology can ensure transparency in the GameFi market. According to the report from Binance on its Half Yearly Report in 2022, a total of 1,551 games had been created by GameFi projects till June 2022.

Increased demand for high value transactions to attract visitors, as well as the potential of decentralization gaming to provide unique game experiences and opportunities, has led to a marked increase in investment and funding within the GameFi sector. For instance,

  • In October 2022, Horizon Blockchain Games, a firm that creates games and practices on the Ethereum blockchain, raised USD 40 million to develop its product line and expand operations.

Impact of COVID-19 on the GameFi Market:

The COVID-19 pandemic had a positive impact on the gaming industry. Due to lockdowns and social isolation measures requiring people to stay at home, demand for online gaming has increased. During the pandemic, GameFi offered novel gameplay mechanics and monetization models. This has resulted in an increased number of players and a higher level of time spent playing games. Also, the pandemic led to an increase in demand for digital assets and collectibles, which has additionally supported the growth of the market. For instance,

  • According to a report from Animoca Brands, the company behind the blockchain-controlled games The Sandbox, F1 Delta Time, and Crazy Defense Heroes, reported the sales totaled USD 7.43 million in the first quarter of 2020, during the COVID-19 pandemic.


By Game Type

By Device

By Geography

  • NFT Games

  • Crypto Games

  • Android

  • Windows

  • iOS

  • Others


  • North America (U.S., Mexico, and Canada)

  • Europe(U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (India, Japan, China, Australia, South Korea, and Rest of Asia Pacific)

  • Middle East & Africa (UAE, South Africa, Saudi Arabia, and Rest of MEA)

  • South America (Brazil, Argentina, and Rest of South America) 

Key Insights:

The report will cover the following key insights:

• Micro Macro Economic Indicators

• Drivers, Restraints, Trends, and Opportunities        

• Business Strategies Adopted by the Players

• Impact of COVID-19 on the GameFi Market

Analysis by Game Type:

GameFi technology is being used by various game types, including NFT games and crypto games.

In 2022, the market was dominated by NFT games. The segment's growth has been facilitated by the innovative and engaging game experience they offer. Also, the emerging need for a play-to-earn model in NFT games is driving market growth. Moreover, it is capable of offering valuable gameplay features that encourage players to spend time and resources on the game.

Regional Analysis:

To gain extensive insights into the market, Request for Customization

The GameFi market is divided into five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Due to the growing interest in cryptocurrencies, online gaming, and high internet and mobile penetration, North America accounted for the largest share of the market in 2022. The region is seeing increasing interest from users and investors in cryptocurrencies, which has led to an increased number of participants in the market. This provides a promising environment for blockchain games, which use cryptocurrencies and other digital assets to fuel the region's progress in the market. For instance,

  • In December 2021, Forte, Solana Ventures, and Griffin's Gaming Partners announced investments of USD 150.0 million in games based on blockchain technology. The objective was to invest in Web3 game developers who are producing decentralized games on the Solana blockchain.

The distribution of GameFi by region is as follows:

  • North America – 35%

  • South America – 12%

  • Europe – 19%

  • The Middle East and Africa – 9%

  • Asia-Pacific – 25%

Key Players:

The report comprises key players such as Gala, Sky Mavis, Decentraland, Animoca Brands Corporation Limited, WEMIX PTE. LTD., Dapper Labs, Inc., Radio Caca, Illuvium, Sorare, SAS., Forte Labs Inc, and others. 

Key Industry Developments:

  • July 2023 - GameFi.org & Klaytn Foundation collaborated to expand their ecosystems. Klaytn's advanced wallet and blockchain technology have been integrated into the GameFi.org platform. This makes it easier for users to access Klaytn's ecosystem, explore its features and play a wide selection of games across the network with GameFi.org.

  • March 2023 - Op3N announced that it has completed a USD 28.0 million series, a financing round led by Animoca Brands to bridge the gap between Web3 and Web2 technologies through its web3.AI chat Superapp which uses decentralization and blockchain technology to build a unified consumer-friendly Web3 platform. 

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

Go daddy

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.