Future of the Web3 Gaming Market

The web3 gaming market is on track for continued growth over the coming years, supported by developments in blockchain infrastructure, wider use of NFTs, and increasing adoption of play-to-earn (P2E) models. Market data from SNS Insider says the industry was valued at USD 25.63 billion in 2024 and is forecast to reach USD 124.74 billion by 2032. This represents a compound annual growth rate (CAGR) of 19.34 percent from 2025 to 2032. The shift toward decentralized gaming is introducing new opportunities for players, developers, and investors across global markets.

Web3 Gaming Market to Hit 124 Billion by 2032

Web3 Gaming Market to Hit 124 Billion by 2032

One of the key factors contributing to this growth is the expanding use of blockchain technology in gaming. Blockchain enables decentralized asset ownership, improved transaction security, and greater transparency for players and developers alike. These features have helped establish trust in web3 platforms and support user engagement through verified ownership of digital assets.

NFTs are also playing a central role. They allow users to own and trade unique in-game items that hold actual value, enabling more direct economic participation in virtual environments. This development is reshaping how players perceive in-game rewards and is encouraging longer user engagement. As interoperability across games and marketplaces improves, NFT-based games are becoming more appealing to a broader audience.

Web3 Gaming Market to Hit 124 Billion by 2032

Play-to-Earn Model Bringing in New Users

The P2E model is attracting players by offering them the opportunity to earn rewards through gameplay. In 2024, this model accounted for 39 percent of total web3 gaming revenue. It is particularly popular in regions where gaming can offer an additional income source, but also resonates with players in developed countries who are seeking new ways to engage with virtual economies. The structure of P2E games is helping to diversify the gaming audience while building stronger in-game communities.

Game Type, Device Use, and User Trends

Among game types, NFT-based games are projected to experience the fastest growth, with a forecast CAGR of 20.40 percent from 2025 to 2032. The growth is being driven by demand for games that include digital ownership and asset-based gameplay, along with the development of secondary markets where users can buy and sell virtual items.

In terms of devices, PC and desktop platforms led the web3 gaming market in 2024, accounting for 40 percent of total revenue. These platforms are favored for their advanced graphics capabilities, strong processing power, and better integration with crypto tools such as wallets and dApps. They also offer greater flexibility for developers building on web3 infrastructure.

Casual gamers made up about 40 percent of the market share in 2024. Their growing presence is tied to mobile-first game design, low entry barriers, and onboarding systems that reduce friction for new users. Games targeted at this audience are typically easy to access and structured for short sessions, making them well-suited for mass-market adoption.

Web3 Gaming Market to Hit 124 Billion by 2032

Regional Performance and Future Outlook

North America led the global web3 gaming market in 2024, capturing roughly 40 percent of total revenues. The region benefits from established blockchain infrastructure, a mature developer community, and supportive regulatory frameworks. Venture capital activity has also contributed to growth by funding startups and projects that explore new use cases in decentralized gaming.

Asia Pacific is expected to grow at the highest rate between 2025 and 2032, with a projected CAGR of 21.27 percent. Countries such as Japan, South Korea, and India are seeing increased interest in blockchain games due to strong smartphone usage, expanding digital payment networks, and rising awareness of crypto assets. The mobile-first nature of the gaming population in this region makes it a key area for future investment and adoption.

Web3 Gaming Market to Hit 124 Billion by 2032

Competitive Landscape and Continued Innovation

As blockchain technology continues to evolve and regulatory clarity improves, the web3 gaming space is likely to see continued expansion. Developers are exploring hybrid game models and new monetization strategies, while users are becoming more comfortable with owning and trading digital assets. The result is a gaming ecosystem that is steadily moving toward broader decentralization and user participation.