Report
Crypto on Live Streaming Mini‑Report
This analysis examines the intersection of cryptocurrency and live streaming, tracking the rapid growth of digital asset content across Twitch, YouTube, and Kick. The primary thesis identifies a significant surge in crypto-related broadcasting driven by market speculation, memecoin popularity, and political events. The scope covers global data from July 2023 through June 2025, utilizing a methodology that tracks unique channels with at least 30 hours of monthly airtime while excluding bots and suspicious accounts to ensure data integrity. Findings reveal that the number of unique channels streaming crypto content doubled in the six months leading into late 2024. YouTube experienced the most dramatic growth, rising from 31 channels in July 2024 to over 200 by June 2025. Viewership peaked across platforms in early 2025, with Twitch reaching its height in February and YouTube seeing major spikes in January and June. While Bitcoin remains the most discussed asset with over 500,000 chat mentions in the first half of 2025, Solana has emerged as a dominant secondary interest, recording 171,000 mentions—triple that of Cardano. The geographic reach of this content is notably diverse, with India emerging as a major hub; four of the top ten crypto creators are based there and stream primarily on YouTube. K1m6a is identified as the leading creator with 6.7 million hours watched. Beyond dedicated finance streams, crypto discourse has permeated gaming communities. Just Chatting is the top category for crypto mentions, but Escape from Tarkov and Fortnite lead among gaming titles. Furthermore, crypto integration is deepening in professional gaming, evidenced by high-viewership esports events like the 2025 Mid-Season Invitational, which secured major crypto-related sponsorships.
Stream HatchetNov 2024
Report
State of Web3 in Saudi Arabia
Saudi Arabia has emerged as the dominant hub for Web3 investment in the Middle East and North Africa, capturing 51 % of Q1 2024 venture‑capital funding with $429 million across 163 deals. This concentration reflects a supportive ecosystem that blends proactive government initiatives, a growing pool of local founders, and active participation from international investors. The market is presently skewed toward consumer‑facing applications such as DeFi, GameFi and SocialFi, while foundational protocol development remains limited, highlighting a clear opening for infrastructure builders. Founders of Saudi‑based Web3 ventures underscore the rapid maturation of the sector, citing high‑profile partnerships—including Animoca Brands with NEOM, collaborations with Hedera, and alignment with Vision 2030—as catalysts for growth. Yet they identify three persistent barriers: inadequate user‑friendly interfaces, insufficient public and investor education, and ambiguous regulatory frameworks that impede both builder activity and funding cycles. Sector‑specific use cases—blockchain‑enabled freelance payments, Sharia‑compliant insurance, and localized NFT platforms—are viewed as primary drivers of mass adoption. Government commitment reinforces this trajectory, with $37.7 billion earmarked for esports and $13.3 billion for gaming, complemented by sizable venture funds such as Wa’ed’s $500 million vehicle and 500 Global’s $2.4 billion under management. Notable projects illustrate tangible impact: Tharawat Green Exchange aims to plant ten million trees by 2030, while Ticket Souq has generated $3.3 million in gross merchandise value, serving 36 k users across 55 events in ten countries. Stakeholders agree that clear, supportive regulation, robust education, and targeted technology investment are essential to translate this momentum into sustainable, high‑pay‑off outcomes for the kingdom’s burgeoning gaming, fintech, e‑commerce and proptech sectors.
AdaverseJul 2024
Report
The State of Web3 Gaming 2024
The Web3 gaming market entered a phase of maturation in 2024, marked by a strategic pivot from rapid expansion to ecosystem stability. While new game announcements decreased by 36%, project discontinuations plummeted by 84%, signaling a more resilient landscape. Indie developers currently drive over 90% of new launches, though technical integration remains a significant hurdle, with only 34% of titles successfully incorporating blockchain infrastructure. To combat the inflationary failures of earlier economic models, the industry is shifting toward "Play-to-Airdrop" mechanics to foster more sustainable player engagement. Geographically, the APAC region and the United States remain the primary hubs for development, collectively hosting the majority of active teams. Genre dominance continues to favor RPG, Casual, and Action titles, which also attract the bulk of stabilized venture capital funding. A notable shift in distribution is underway as Telegram emerged as a powerhouse platform, capturing 21% of new game launches, while the Epic Games Store expanded its Web3 portfolio to nearly 100 titles. This evolution in accessibility is mirrored by a technical migration toward Layer 2 and Layer 3 solutions, which now account for 57% of new game launches. Infrastructure is becoming increasingly specialized, with 64% of new blockchains designed specifically for gaming. Although the Ethereum Virtual Machine ecosystem maintains its dominance, high-growth frameworks like Arbitrum Orbit and Immutable are driving a record number of migrations as developers seek more efficient environments. Despite a 200% surge in token launches, investors maintain a conservative outlook, prioritizing high-quality game content over foundational infrastructure. This growth occurs against a fragmented regulatory backdrop, where developers must navigate the rigorous enforcement of the U.S. SEC alongside more structured frameworks in Asia and the European Union.
Game7 ResearchJan 2024
Report
State of Web3 in Saudi Arabia: 2024 KSA Report
Saudi Arabia is rapidly establishing itself as a premier regional hub for Web3 innovation, propelled by the strategic objectives of Vision 2030 and a demographic profile characterized by a young, digitally native population. The Kingdom has secured a dominant position in the MENA venture capital landscape, capturing over 50 percent of regional funding in early 2024. This financial momentum is bolstered by robust government support, significant investments in gaming and esports, and a burgeoning startup ecosystem that is increasingly applying blockchain technology to sectors such as fintech, environmental sustainability, and secure ticketing. Despite this rapid expansion, the ecosystem faces structural challenges that must be addressed to achieve mass-market adoption. Industry stakeholders identify regulatory uncertainty, market volatility, and a persistent shortage of specialized talent as primary barriers to sustainable growth. Furthermore, the current technical complexity of decentralized applications remains a significant hurdle for the average user. Experts emphasize that for Web3 to integrate successfully into the broader economy, developers must prioritize the creation of intuitive, value-driven user interfaces that abstract away technical complexities, shifting the focus from decentralization for its own sake to practical, real-world utility. The long-term success of the Saudi Web3 sector depends on the continued alignment of technological development with national economic diversification goals. By fostering deeper collaboration between government regulators, academic institutions, and private industry, the Kingdom aims to create a stable and business-friendly environment. As the ecosystem matures, the transition from foundational infrastructure to sophisticated, user-centric applications will be critical in cementing Saudi Arabia’s status as a global leader in blockchain innovation and digital transformation.
AdaverseJan 2024
Report
Blockchain Industry Report: August 2022
This analysis examines the state of the decentralized application (dapp) and blockchain industry during August 2022. The report highlights a period of significant volatility characterized by a 14.73% year-over-year decline in daily Unique Active Wallets (UAW), which reached a yearly low of 1.67 million. Despite the prevailing bear market and a series of high-profile security breaches—including the $190 million Nomad bridge exploit and the Solana wallet hack—the industry showed pockets of resilience, particularly within Ethereum scaling solutions and the gaming sector. The Decentralized Finance (DeFi) sector experienced a 10.47% contraction in Total Value Locked (TVL), falling to $74.21 billion. This decline was exacerbated by U.S. sanctions against Tornado Cash, which sparked industry-wide debates regarding the true nature of Web3 decentralization. Conversely, Ethereum Layer-2 protocols like Optimism and Arbitrum saw growth in anticipation of "The Merge," with Optimism entering the top ten blockchains by TVL. While the gaming sector’s dominance of industry usage dipped slightly to 51%, it remained the primary driver of blockchain activity with over 847,000 daily UAW. The NFT market faced downward pressure, with UAW dropping 16.7% to its lowest level since mid-2021. Trading volumes decreased by 5% month-over-month, influenced by the falling price of Ethereum and liquidation fears surrounding major collections like Bored Ape Yacht Club. However, the report notes structural evolution in the marketplace, specifically the rise of the Automated Market Maker (AMM) model via SudoSWAP and continued interest from traditional brands like Mars and Tiffany & Co. The findings suggest that while macroeconomic uncertainty and security vulnerabilities persist, the underlying infrastructure continues to mature through technical milestones and diversifying use cases.
DappRadarAug 2022
Report
DappRadar Blockchain Industry Report: Highlights of July 2022
The July 2022 DappRadar Blockchain Industry Report analyzes the state of the decentralized application ecosystem during a significant market downturn. The findings indicate that while the broader crypto industry remains trapped in a bear market influenced by the collapse of Terra and macroeconomic pressures like U.S. inflation, specific sectors—most notably blockchain gaming—demonstrate remarkable resilience. The report covers global trends across decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming, utilizing data on Unique Active Wallets (UAW) and Total Value Locked (TVL) to measure health and engagement. Data shows that dapp activity reached a yearly low in July with 1.68 million daily UAW, a 4% decrease from June. DeFi was the hardest-hit segment, with UAW dropping below 500,000 for the first time since early 2021. Despite this, DeFi TVL saw a 22% recovery during the month, rising to $82.3 billion, led by growth on Ethereum, BNB Chain, and Tron. The report also highlights the continued "crypto contagion" following the Celsius Network bankruptcy filing, which has increased calls for international regulatory frameworks like the EU’s MiCA. The NFT market experienced a contraction, with monthly trading volume failing to reach $1 billion for the first time in over a year. Market dynamics are shifting as OpenSea’s dominance fell from 84% in May to 58.6% in July, facing increased competition from new entrants like the GameStop and Nickelodeon marketplaces. Conversely, the gaming sector emerged as a primary industry driver, accounting for nearly 60% of all dapp usage. With nearly 1 million daily UAW, blockchain games grew 8% month-over-month, suggesting that immersive mechanics and venture capital interest are insulating the segment from the prevailing "crypto winter."
DappRadarJul 2022
Report
State of the Game Industry Report: 2022
The global game development landscape in 2022 reflects a period of significant structural and cultural transition. PC remains the primary development platform, while the PlayStation 5 maintains its position as the leading console choice. Conversely, mobile development has experienced a decade-long decline in developer interest. Emerging hardware like the Steam Deck and PlayStation VR2 continues to capture attention, yet the industry remains deeply skeptical of speculative technologies such as the metaverse, cryptocurrency, and NFTs. These concerns are rooted in anxieties regarding environmental sustainability, ethical business practices, and the long-term viability of blockchain-based models. Workplace culture and labor dynamics have emerged as central themes, marked by a measurable improvement in work-life balance as 60 percent of developers now maintain a 40-hour work week or less. Despite this progress, the industry struggles with systemic issues, as a majority of studios have failed to adequately address internal reports of misconduct and toxicity. This environment has fueled a growing movement toward collective bargaining, with 55 percent of developers supporting unionization and nearly one-quarter of workplaces engaging in active discussions regarding labor organization. The industry continues to prioritize accessibility, with a record 39 percent of developers integrating inclusive design features into their projects. However, broader efforts toward diversity and social activism remain inconsistent across various studios. Furthermore, the workforce remains predominantly male and early-career, highlighting a demographic imbalance that persists alongside ongoing tensions between developers and major platform holders. As evidenced by the 34 percent of developers who support Epic Games in its legal conflict with Apple, there is a clear desire for greater autonomy and a shift in the power dynamics that currently govern the digital distribution ecosystem.
GDCJan 2022
Report
Newzoo Trends to Watch 2022: Games, Esports, Live Streaming, Cloud and the Metaverse
The analysis projects that 2022 will be defined by a cautious expansion of emerging monetisation models and a deepening investment in immersive technologies. While non‑fungible tokens and crypto‑based revenue streams continue to provoke player backlash, platform bans and regulatory scrutiny, publishers are expected to experiment with “NFT‑like” features under less contentious branding. Concurrently, legal pressure on Apple and Google is likely to ease app‑store steering rules, creating alternative payment pathways that could reshape distribution economics. Metaverse and virtual‑reality narratives are driving substantial capital inflows, with major hardware releases from Meta, Sony and Apple building on the strong sales of the Quest 2 in 2021. High‑profile titles such as Horizon Forbidden West illustrate the market’s appetite for immersive experiences. A parallel “brand gold rush” in virtual real‑estate is accelerating, exemplified by multi‑million‑dollar acquisitions in Decentraland’s Fashion District and The Sandbox, where corporations are establishing branded malls and interactive spaces. Globally, the games industry generated $175.9 billion in 2021, anchored by the Asia‑Pacific region’s $88.2 billion contribution and an 8.7 percent compound annual growth rate. North America remains a significant market, while esports and cloud‑based services continue to expand the ecosystem’s reach and monetisation potential. The convergence of these trends suggests a year of strategic experimentation, heightened investment in immersive platforms, and evolving regulatory landscapes shaping the future of interactive entertainment.
NewzooJan 2022
Report
The Metaverse, Blockchain Gaming, and NFTs: Navigating the Internet’s Uncharted Waters
The metaverse represents a fundamental shift from a two-dimensional internet toward a persistent, three-dimensional social ecosystem driven by gamified virtual spaces. This evolution is currently led by "game as a platform" models, most notably Roblox, which leverages tens of millions of daily active users to host diverse commercial and social experiences. While major global brands in fashion, luxury, and finance are increasingly investing in "direct-to-avatar" economies and digital real estate to reach younger, digital-native demographics, the sector faces significant economic and technical hurdles. High developer take rates, consistent net losses among platform leaders, and networking limitations that prevent massive simultaneous user scaling remain primary obstacles to long-term growth. The integration of blockchain technology and non-fungible tokens (NFTs) has introduced new economic paradigms, such as the "Play-to-Earn" model. Although these games accounted for nearly half of all decentralized application wallet activity by late 2021, their growth is largely concentrated in emerging markets where users treat gaming as an income-generating activity. The sustainability of these ecosystems is currently challenged by high entry barriers and a prioritization of financial speculation over core gameplay quality. For the industry to mature, it must transition toward higher-quality experiences and more robust virtual economies that offer genuine utility beyond profile-picture status symbols. Mass adoption of these decentralized virtual worlds is currently constrained by technical and regulatory friction. Interoperability across different platforms remains a theoretical goal rather than a functional reality, while high transaction fees on networks like Ethereum and environmental concerns create additional barriers. Furthermore, the industry must navigate complex legal landscapes regarding digital privacy, content moderation, and the protection of intellectual property. Despite a cooling of initial market hype following a crypto correction in 2022, the long-term trajectory points toward a transmedia future where digital assets and virtual identities are central to global commerce and social interaction.
NewzooJan 2022
Report
Blockchain Industry Report
The report examines the blockchain ecosystem during a prolonged bear market, highlighting how macroeconomic pressures—high U.S. inflation, rising interest rates, and a recessionary environment—have driven investors to withdraw capital from both equity and cryptocurrency markets. This withdrawal has intensified selling pressure, reducing medium‑term trading volume and pushing dapp activity to its lowest point of 2022, with 1.68 million daily unique active wallets (UAW) in July, a 4 % month‑over‑month decline yet still 20 % above July 2021 levels. DeFi remains the most affected segment, with UAW falling below 500 k for the first time since April 2021—a 22 % MoM drop and a 31 % YoY decline. Total value locked (TVL) has begun to recover, rising 22 % from July 1 to July 31 to $82.3 bn, driven by gains across Ethereum, BNB Chain, and Polygon. Polygon’s network upgrades and migration of Terra projects have contributed to a 17 % TVL increase, while the launch of a web3 smartphone partnership signals continued innovation. NFT trading volume contracted 25 % MoM, falling below $1 bn for the first time since June 2021. Market concentration intensified, with Yuga Labs’ collections accounting for over 20 % of July’s volume. OpenSea’s dominance has eroded from 84 % to 58.6 %, as new marketplaces such as GameStop and Nickelodeon capture niche segments. Gaming defied the downturn, achieving 1 million daily UAW and $857 m in transactions, with its share of overall usage rising from 52 % to 57.4 %. The report concludes that while the crypto winter has triggered significant market recalibration, resilient projects—particularly in DeFi and gaming—are positioned to drive a future bull run.
DappRadarJan 2022
Report
Newzoo’s Games, Esports, Live Streaming, Cloud and the Metaverse
The analysis examines how emerging technologies and shifting consumer behaviors are reshaping the global gaming ecosystem. Blockchain‑based monetisation, particularly non‑fungible tokens (NFTs), has met with mixed reception. While the promise of secure, legitimised trading is evident in titles such as Axie Infinity, major publishers have reacted cautiously. Valve’s ban of crypto games on Steam and Ubisoft’s withdrawal from NFT initiatives after player backlash illustrate a broader industry reluctance, compounded by regulatory constraints in jurisdictions like South Korea and platform‑level anti‑steering rules from Apple and Google. Consequently, publishers are exploring “NFT‑like” features under less controversial branding to satisfy investor appetite while mitigating gamer discontent. Live‑streaming and cloud gaming are emerging as pivotal drivers of player engagement. Interactive shows such as Facebook’s Rival Peak and PAC‑MAN Community have amassed over 100 million minutes of viewership in three months, opening new monetisation avenues. The semiconductor shortage is accelerating the migration of high‑end titles—Elden Ring, Starfield—to cloud platforms. Services like NVIDIA GeForce NOW and Google Stadia have already recorded user growth, while publishers leverage cloud to deliver AAA content on legacy hardware (e.g., Nintendo Switch) and broaden access through subscription bundles such as Game Pass Ultimate. This trend signals a shift toward broader platform reach and subscription retention. Geographically, the Asia‑Pacific region dominates global game revenues at $42.6 billion, driven by China’s mobile‑first market and an 8.7% compound annual growth rate (CAGR). North America matches this revenue figure at $42.6 billion, with a 7.9% CAGR. Latin America, the Middle East, and Africa are projected to grow faster than the global average, increasing their share of worldwide revenues. COVID‑19’s impact on Asia‑Pacific was muted, partly due to a strong console gaming emphasis that helped sustain growth. The findings collectively underscore the importance of balancing innovative monetisation models, expanding platform accessibility, and regional market dynamics in shaping the future of gaming.
NewzooJan 2022
Report
Games, Esports, Live Streaming, Cloud and the Metaverse: 2022
The global gaming industry is undergoing a fundamental transformation characterized by the convergence of traditional media, high-fidelity content, and emerging Web3 technologies. The primary thesis posits that the sector is shifting toward an interconnected, cross-platform ecosystem where revenue diversification and creator-driven engagement models are essential for growth. While consumer skepticism persists regarding blockchain-based assets and NFTs, publishers are successfully navigating this transition by prioritizing mobile esports, co-streaming strategies, and efforts to circumvent restrictive app store ecosystems to foster deeper fan loyalty. Technological infrastructure is evolving to support this expansion, with cloud-based solutions and Platform-as-a-Service models playing a critical role in mitigating hardware limitations. By integrating gaming experiences into smart TVs and leveraging cloud technology, companies are effectively broadening their reach to new demographics. Simultaneously, the metaverse has emerged as a significant focal point for venture capital and brand investment, as corporations increasingly utilize digital fashion and virtual real estate to capture the attention of younger, digitally native audiences. Geographically, the market remains dominated by the Asia-Pacific region, which generates $88.2 billion in annual revenue, representing over half of the global total. North America follows with $42.6 billion, maintaining a strong position in the industry landscape. However, the long-term trajectory of the market is increasingly influenced by emerging territories in Latin America, the Middle East, and Africa. These regions are currently expanding at rates exceeding the global average, signaling a gradual decentralization of revenue and a more diverse, globalized future for the interactive entertainment sector.
NewzooJan 2022
Report
Games, Esports, Live Streaming, Cloud and the Metaverse: 2022 Trends to Watch
The global gaming industry is currently undergoing a structural transformation characterized by the integration of emerging technologies and a pivot toward cross-platform accessibility. Central to this evolution is the expansion of cloud gaming, which serves as a critical bridge to overcome hardware constraints, allowing publishers to reach broader audiences on mobile devices and legacy consoles. Simultaneously, the metaverse is maturing into a robust commercial ecosystem, fueled by significant venture capital investment, the proliferation of virtual real estate, and the integration of digital fashion. These developments signal a broader industry shift toward enhanced creator-viewer interactivity and the adoption of Web3.0 business models. Monetization strategies are diversifying as companies experiment with blockchain-based player trading and fan engagement tools, despite notable consumer resistance toward non-fungible tokens. This period is also defined by a surge in high-quality cross-media intellectual property adaptations and a crowded release calendar, which intensifies competition for consumer attention. Furthermore, regulatory and consumer pressures are forcing a transition toward more open app store ecosystems, challenging traditional distribution gatekeepers. Within the esports sector, organizations are actively diversifying revenue streams by prioritizing mobile-first titles and leveraging co-streaming to maximize viewership reach. These trends, observed throughout 2022, reflect a strategic effort to sustain growth across global markets. By synthesizing market intelligence and tracking key performance metrics, the industry continues to navigate the complexities of digital transformation, balancing the pursuit of innovative monetization with the necessity of maintaining user trust in an increasingly interconnected virtual landscape.
NewzooJan 2022
Report
Intro to the Metaverse 2021
The metaverse represents a fundamental evolution of the gaming industry, transitioning from Games-as-a-Service to Games-as-a-Platform. In this new paradigm, virtual worlds function as persistent social hubs where identity, creativity, and commerce converge. This shift is driven by the rise of user-generated content, large-scale simulations, and decentralized economies that blur the boundaries between digital and physical realities. High-profile virtual events, such as major in-game concerts, demonstrate the massive engagement potential of these platforms, often attracting tens of millions of unique participants and generating significant cross-media growth for brands and artists. Consumer appetite for these social game-worlds is substantial across global markets, with 70% of players expecting the metaverse to increase their total playtime and a significant majority of non-gamers expressing interest in joining. While Western development emphasizes decentralized identity and blockchain integration, the Chinese market is evolving toward a mobile-first, "omni-channel" experience led by major domestic tech giants. These regional differences highlight a broader trend toward "direct-to-avatar" supply chains and the legitimization of secondary markets, where digital assets and virtual real estate can command valuations in the hundreds of thousands of dollars. The integration of blockchain technology and Non-Fungible Tokens (NFTs) serves as a critical catalyst for this ecosystem by enabling true digital ownership and "Play-to-Earn" models. These innovations transform player activities into viable digital jobs and provide developers with new revenue streams through secondary market royalties. However, realizing the full potential of the metaverse requires significant technological infrastructure, including cloud-native development to support mass concurrency and open standards for interoperability. While challenges regarding global moderation, environmental impact, and regulation persist, the metaverse is poised to become a decentralized, mobile-accessible ecosystem that complements physical reality.
NewzooJan 2021