Market Potential

Even though the recent bear market, crypto gaming continues to attract significant interest from investors, thanks to the advantages that blockchain technology can bring to the gaming industry. Unlike traditional gaming environments, blockchain-based games offer players the ability to own and transfer their in-game assets, creating lucrative businesses and attracting millions of players. With initiatives such as GameFi, tokens related to in-game assets can be created, allowing developers to monetize their games and create new revenue streams. Ultimately, crypto gaming is proving to be an attractive investment opportunity.

The NFT/Crypto gaming industry is a young and dynamic segment. The rise of GameFi and the emergence of gaming experiences like ESPL Arena are pivotal in more ways than one.

While the crypto sector today is still largely restricted to internet-native individuals, the potential is being recognised for GameFi and other facets of blockchain gaming to revolutionise current models and bring powerful, democratic monetisation to entire generations of developing and rural economies through a low barrier of entry, requiring nothing more than an entry-level smartphone to participate.

There is massive untapped potential of the gaming market play-to-earn and competitive revenue models that platform could unlock. In 2021, a staggering $4.8 billion in revenue was generated by gaming related NFTs while $4.6 billion in sales were fueled by metaverse-related digital assets, primarily virtual real estate.

Every year, Generation X and Y spends billions of dollars on virtual assets, purchasing a variety of skins, armoury and accessories. In 2018, the market for virtual skins was estimated at $50 billion according to a Bloomberg report.

Extrapolating these figures expose massive possibilities for revolutionising digital ownership and catalysing the rise of a new global market for virtual assets.