The crypto community may be shocked by some of the shocking conclusions uncovered by Triple A's most recent cryptocurrency ownership data. According to Triple A's data, 48.6% of cryptocurrency owners want to use their coins for online gaming or gambling in the future.
This is higher than the 25.1% of bitcoin owners who used their coins for this reason in the previous year. It should be noted that online gaming and gambling have experienced a growth in recent years, and by 2027, it is predicted that the gaming sector will be worth US$340 billion. This has happened at a time when crypto-gambling, which has been heavily present on Twitch broadcasters for more than a year, is drawing larger audiences and stirring up more controversy. Over one-third of all people on the planet are gamers. Microsoft Xbox, G2A, and Twitch are the biggest gaming businesses that have joined the cryptocurrency industry.
The gaming business has undergone significant transformation as a result of cryptocurrency, whether in terms of payment methods or gamefi. As a result of the growing acceptability of cryptocurrencies among players and organisers, a careful examination of the sector reveals that gaming companies will experience significant growth in the market in the years to come.
According to Triple A's data, the price of Bitcoin increased by as much as 540,000% between 2012 and 2021. Additionally, 47% of the market capitalization of all cryptocurrencies in 2021 was made up of bitcoin. Aside from this, the market for cryptocurrencies is anticipated to expand at a CAGR of 56.4% from 2019 to 2025.
The US, India, Pakistan, Nigeria, and Vietnam are the top five countries based on the number of cryptocurrency owners, according to the data. The country with the most crypto owners is the United States (46,020,521).
Other well-known industries that take cryptocurrencies include e-commerce, luxury products, and remittance, in addition to the gaming sector. Remittance via cryptocurrency is projected to be 388 times faster and 127 times less expensive than remittance using conventional methods.
