$2 Billion Esports Gaming Industry Finds Its Way Into Blockchain Games

$2 Billion Esports Gaming Industry Finds Its Way into Blockchain Games
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The Sandbox with FaZe Clan World and Guild of Guardians with the biggest names in esports, are leading the trend

In 2021 the total revenue of the esports market exceeded $2 billion, and with the industry’s latest move into blockchain gaming, growth will continue. Esports has its eye on blockchain games and Web3, and various leading esports organizations have now collaborated with leading brands in the blockchain space, The Sandbox, and Guild of Guardians.

Esports and the role of gaming in the Web3

While 2022 has not been a thriving year for the decentralized applications industry in general, gaming dapps have shown an unforeseen strength.

Blockchain games are least affected by the bear market as blockchain activity takes a minor setback.

Via the DappRadar x BGA Games Report – Q2 2022

Our report shows that the second quarter of 2022 had gaming dapps drive 52% of all blockchain activity. And this trend is also attracting big names in the esports industry.

A whole new FaZe World in The Sandbox metaverse

The famous American esports organization FaZe World announced plans to build a metaverse gaming experience to be launched in 2023 in The Sandbox.

FaZe Clan’s CEO, Lee Trink, said in the official press release that the company’s “leadership position at the apex of gaming and youth culture presents an ideal opportunity to build bridges and lead the gaming community at large into the Metaverse.”

The news came out on September 15, 2022, and has already hyped the Web3 community. Players will get to buy the virtual land of the FaZe world, where they can build gaming experiences and earn digital tokens. The land sale date and details are yet to be announced.

Furthermore, uniting esports to blockchain technology allows gamers to create new and decentralized revenue streams – unseen in the industry so far.

The game-changing Guild of Guardians partnerships

Guild of Guardians is an upcoming Web3 mobile action RPG that adds NFTs and a token economy to its gameplay. But it is about to grow further with partnerships that may change the history of gaming.

Also announced on September 15, the Guild of Guardians welcomes the world’s most prominent teams in esports into the future of gaming. Team Liquid, Cloud9, NAVI, T1, Fnatic, Ninjas in Pyjamas, NRG, and SK Gaming will represent their teams with playable in-game characters that will be tradable as digital collectibles on Immutable X.

As you can read in more depth in the official announcement, “This is a landmark partnership for the entire gaming industry with the long-term vision of aligning incentives in a win-win, symbiotic cycle of success between esport teams, their fans, and, in turn, Guild of Guardians.”

Keep learning about Web3 gaming with DappRadar

Over the past two decades, esports has grown from a niche market in South Korea to a worldwide phenomenon. Gaming creates superstars that entertain their audience with high-level gameplay. Both the creation and consumption of gaming entertainment take place in the digital realm.

With the rise of ownership over digital items on one hand and the metaverse on the other, blockchain gaming seems the logical next step for esports to continue its phenomenal growth.

In 2012 esports had a yearly revenue of roughly $100 million, while now reaching $2 billion. Market research suggests further growth with 21.9% annual growth, reaching $12.4 billion by 2030.

To keep a pulse on esports, Web3, and blockchain gaming, DappRadar has the best tools to help you in the research process and to gain knowledge of the decentralized game app market. Starting with our Rankings that show the best and most used play-and-earn games on various blockchains.

Web3 Gaming Industry Overview DappRadar

In addition, our blog also provides everything you need to read to learn how this world works. Follow your journey of knowledge with us by reading Gaming: DappRadar’s Ultimate Guide.

And don’t forget to join the DappRadar community on Discord and Twitter to keep up with the latest trends and main news.

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The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your own research.

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