The future of video games
The video game industry grows year after year, managing to generate more revenue than the film and music industries together. The video game industry revenue has grown 11% CAGR (Compound Annual Growth Rate) between 2012 and 2021 and it is predicted that between 2021 and 2025 it will grow by 9.32%; almost the same amount of growth in half the amount of time. This means in 2025 it is estimated for video games to have a revenue of $223 billion.
This exponential growth has been fundamentally caused by two factors, the F2P (free-to-play) business model and mobile video games. This combination has enabled video games to reach almost every corner of the world as accessible products that are distributed for free. At BITE VEIN STUDIOS we are certain that these two pillars will continue being very important for the future of blockchain video games.
Source: Newzoo & Sensor Tower
The new features that blockchain video games bring to the table, like content property, are currently taking off and they could spark a change in the industry just like F2P video games did in the last years. We strongly think this spark will not only increase the revenue of companies as well as the retention and loyalty of their players, but it will also lead to the creation of the new ways of playing, new jobs, and even new ways of generating wealth for millions of players around the world.