Crypto Payments Market Opportunity - Gaming, Casino & Metaverse

Xion Global
5 min readFeb 17, 2023

Cryptocurrency is a digital currency that operates independently of a central bank, and it has been gaining popularity in recent years. It’s no surprise that the gaming, casino, and metaverse arenas have taken notice, as the potential for cryptocurrency payments in these areas is vast.

Let’s take a deep dive into the statistics for some of Xion’s key clientele and see what opportunities lie ahead.

Gaming

Starting with the gaming industry, the global gaming market reached $184.4 billion in 2022, up from $180.3 billion in 2021. The mobile gaming segment is expected to grow at a CAGR of +10.3% between 2021 and 2027. The Asia-Pacific region is the largest market for the gaming industry, accounting for more than 50% of the global market.

Cryptocurrency payments provide a number of advantages over traditional payment methods in the gaming industry. For example, cryptocurrency transactions are fast, secure, and easy to perform, which is especially important for online gamers who want quick access to their winnings. Additionally Web3 payments can encourage player engagement and repeat business through incentivising purchases with rewards, resulting in improved player retention.

Casino

Moving on to the casino industry, the global casino market was valued at $449.04 billion in 2022 and is expected to reach $702 billion by the end of 2023, growing at a CAGR of 56.4% during the forecast period. The Asia-Pacific region is also the largest market for the casino industry, accounting for more than 40% of the global market.

Cryptocurrency payments also offers a number of benefits to casinos, including lower transaction fees, increased security and reduced fraud. Additionally, cryptocurrency payments are borderless, which makes it easy for casinos to expand into new markets and offer their services to customers from all over the world.

Metaverse

Finally, the metaverse arena is an emerging industry that is expected to reach $678 billion by 2030, growing at a CAGR of +39.44% between 2022 and 2030. North America is expected to be the largest market for the metaverse industry, accounting for more than 35% of the global market.

In conclusion, the potential for cryptocurrency payments in the gaming, casino, and metaverse arenas is vast, and it’s only a matter of time before it becomes a widely accepted payment method. With its speed, security, anonymity, and borderless nature, cryptocurrency offers a number of advantages over traditional payment methods and is set to play a significant role in these rapidly growing industries in the years to come.

State of Crypto Payments Adoption

While the potential for cryptocurrency payments in the gaming, casino, and metaverse industries is substantial, it’s important to understand the current volume of payments made using cryptocurrencies. Here are some statistics to give you an idea of the current state of cryptocurrency payments in these industries:

Gaming Industry:

  • In 2021, it was estimated that cryptocurrency payments accounted for approximately 5% of all payments made in the gaming industry.
  • The volume of cryptocurrency payments in the gaming industry is expected to grow at a CAGR of +15.2% between 2022 and 2027.

Casino Industry:

  • In 2021, it was estimated that cryptocurrency payments accounted for approximately 4% of all payments made in the casino industry.
  • The volume of cryptocurrency payments in the casino industry is expected to grow at a CAGR of +12.1% between 2022 and 2027.

Metaverse Industry:

  • In 2021, it was estimated that cryptocurrency payments accounted for approximately 6% of all payments made in the metaverse industry.
  • The volume of cryptocurrency payments in the metaverse industry is expected to grow at a CAGR of +35.3% between 2022 and 2027.

While the percentage of payments made using cryptocurrencies in the gaming, casino, and metaverse industries is currently small, it’s expected to grow rapidly in the coming years. The increasing adoption of cryptocurrencies and their increasing popularity among consumers is driving this growth.

In conclusion, the potential for cryptocurrency payments in the gaming, casino, and metaverse industries is vast, and the current volume of payments made using cryptocurrencies is only a fraction of what it is expected to become. With its speed, security, and borderless nature, cryptocurrency is set to play a significant role in these rapidly growing industries in the years to come.

Xion — The Web 3 Payments Infrastructure

In light of the potential for cryptocurrency payments in the gaming, casino, and metaverse industries, it’s important to choose a payment gateway that offers a comprehensive suite of services and features. Xion Global is the preferred choice for these industries, as it offers a range of payment solutions designed specifically for Web3 payments.

Some of the key features of Xion Global’s crypto payment gateway include:

  • Multi-chain: Xion supports multiple cryptocurrencies and networks, making it easy for clients to accept payments from a wide range of customers.
  • Seamless Crypto Payments: Xion provides clients with multiple payment integration options, ensuring that their customers can enjoy a user-friendly checkout experience with clear instructions, minimal steps and saved payment information. Our payment system is designed with responsive design, visual cues, and confirmation messages, making it easy and efficient for customers to complete transactions in a Web3 environment.
  • Subscriptions: Xion supports recurring payments, making it easy for clients to charge customers on a regular basis.
  • Transactional reporting: Xion provides a detailed reporting dashboard that allows clients to track their transactions and analyze their payments.
  • Cashback and loyalty: Xion offers cashback and loyalty programs to reward customers for their purchases.
  • API documentation: Xion provides comprehensive API documentation to help businesses integrate the payment gateway into their existing systems.
  • Customer Profiles: Xion provides detailed user profiles that allow clients to understand their customers better.
  • 0% transaction fees: Xion charges no transaction fees for Merchants, making it an economical choice for businesses.

In conclusion, Xion is the preferred crypto payment gateway for the gaming, casino, and metaverse industries due to its comprehensive suite of payment products and features. Whether you’re looking for fast and secure payments, detailed reporting, or comprehensive customer profiles, Xion Global has you covered.

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