Market Trends

Blockchain Game Market Scale

The blockchain game market is expected to reach 62 trillion won by 2025. Various game companies in Korea are also currently actively engaged. Especially, they are focusing on securing important global IPRs(Intellectual property rights) in the game market.

According to Bitkraft, a game venture capital company, the blockchain game market, which was worth 1.5 billion dollars last year, is expected to grow to 50 billion dollars by 2025. Also, Eric Schiermeyer, CEO of Gala Games, said, “If blockchain games rise to the mainstream in the game market, which is currently estimated to be 240 trillion won, it is likely to increase to 1,200 trillion won.”

Metaverse Market Scale

Microsoft and NVIDIA declared "Metaverse" as a next-generation core business and introduced new technologies related to Metaverse. “I'm sure Metaverse will be a bigger new economy than the current one,” said NVIDIA CEO. Mark Zuckerberg, Facebook CEO, said, “Metaverse is the next step on the Internet. I hope we will be recognized as a Metaverse company as time goes by.” The Metaverse War of Global Big Tech Companies has begun in earnest.

The Wall Street Journal(WSJ) reported, “there is a big tech war over Metaverse” adding, “This reflects the growing belief that Metaverse creates considerable wealth in reality.”

Metaverse is a combination of “Meta,” which means transcendence or virtual, and “Universe,” which means the real world, and refer to a virtual world linked to reality. The concept first appeared in the 1992 novel “Snow Crash”, but remained in the realm of science fiction for a long time due to the lack of technology. However, as developed technologies such as networks, graphics, and artificial intelligence implemented the Metaverse world during the Fourth Industrial Revolution, the expectation for Metaverse as an industry got higher. On top of that, interest in the virtual world and demand for Metaverse technology accelerated rapidly as non-face-to-face society became common due to the COVID-19 pandemic. The scale of the Metaverse market, which is still in its early stages, varies widely from research institution to research institution. Bloomberg Intelligence predicted that the scale of the Metaverse market will grow from 478.7 billion dollars (approximately 564 trillion won) to 783.3 billion dollars (approximately 923 trillion won) in 2024. Morgan Stanley, a global investment bank, said “Metaverse will be the nextgeneration social media, streaming, and game platform,” and suggested the scale of the Metaverse future market at up to 8 trillion dollars (approximately 9,434 trillion won).