Figure 3 - The Market That DEXGame Caters To
According to Newzoo, a company that provides gaming industry insights by conducting global gaming and e-sports market research, the gaming industry has become the top-paying media industry, with revenue of approximately $180.3 billion in 2021. At the moment, the only unknowns about the future of the gaming industry are the amount of record-breaking sales, the speed of market access and questions about how much higher the market can go. As of 2021, there are over 2.96 billion gamers worldwide, and how they choose to spend their money will continue to shape gaming history. As a result of the increased interest in games due to the COVID-19 global pandemic, there has been a serious growth in the gaming industry. The development of cloud-based gaming technologies, NFT and Metaverse platforms brought about by blockchain technology, and the launch of new generation game consoles stand out as other factors in the growth of the industry. The gaming industry, which is expected to reach $218.8 billion by the end of 2024, is expected to grow by 8.7% annually.
Figure 4: Global Games Market & Global Games Revenue Forecast
In this growth, new games, platforms, technologies based on blockchain technology and new business models that develop depending on these innovations also play an important role. The most important factor of this role is the new platforms introduced to the market focusing on the metaverse and NFT for the gaming industry. Metaverse platforms, which include various applications for creating digital assets and trading these assets, have started to be developed rapidly by technology giants. Led by Facebook, which changed the name of corporate groups to “Meta”, giant companies from other industries (i.e. Coca-Cola, Nike, Adidas, Gucci, Dolce Gabbana) continue to invest in the field of metaverse and NFT in addition to companies operating in the field of games such as Microsoft, Tencent, Roblox, Nvidia, and Epic. Emergen Research announced the global metaverse market size as $47.69 Billion at the beginning of 2021. However, according to the research studies of Newzoo, IDC, PWC, Statista and Two Circles, it is predicted that the metaverse global market size will progress with double-digit growth values until 2024 and approach 800 billion dollars. Chainanalysis states in its report for the global NFT market that the market size is approximately $41 billion at the end of 2021. Considering that the market of cryptoassets, which has shown an annual growth rate of more than 30% in recent years, has reached a market size of approximately 3 trillion dollars by the end of 2021, the growth rate of the Metaverse and NFT markets, which have just started to become popular, is growing at a remarkable pace.
Figure 5: NFT & Crypto Asset Market Size
We can say that the gaming industry is one of the fastest growing technology industries in the world. Cryptocurrencies and blockchain technology have a significant impact, especially on the gaming industry. These advances in cryptocurrencies, blockchain technology and gaming industries form the basis of developments in the metaverse space. The increase in the global prevalence of cryptocurrencies or decentralized financial systems by people, institutions and organizations, and even by many central organizations, especially giant companies, has paved the way for the game and art world, which are the most suitable areas in terms of operation, mechanism and even culture. Cryptocurrencies have become the shining stars of the gaming ecosystem. Today, most games include shopping or in-game purchases. Currently, many popular games or gaming platforms allow gamers to purchase tokens digitally. Every day, new models are created for the use of these digital assets.
Figure 6 - CoinGecko Data
Figure 7 - CoinMarketCap Data
Figure 8 - CoinBase Data
The DEXGame team consists of experienced and expert staff in activities such as product and technology development, business and strategy development, promotion and marketing. For this reason, our team has well and correctly identified the disadvantages and problems brought by the speculative economy in the cryptocurrency market. DEXGame prioritizes the sharing economy and experience economy, with its structure aiming to operate an economy focused on Metaverse and the components (products) it contains. For this reason, "User Profiles and User Habits", which is the base of the experience economy pyramid, has been analyzed in detail. In this context, the fact that a very important part of the people who own cryptocurrencies that are traded on any exchange market and the people in the world of gaming (gamers, game developers, artists, etc.) are in the same age range, that is, the similarity of the user profiles of these two different worlds is one of the most important indicators that the DEXGame platform will establish a sustainable economy. Although it is considered that its users are from two different worlds at first glance, the number of authorities that make regulations for the use of digital currencies or cryptocurrencies and continue their efforts to increase and expand the use of these assets in the near future has increased considerably. In this case, it was inevitable that the token model used for different services, especially in-game purchases used in games, intersects with the world of cryptocurrency.
The rationale and mission of DEXGame Metaverse are to close the gaps in the market, strengthen its weaknesses, evaluate the opportunities in the industry, and implement innovative technologies and business models that meet the needs of the market.