3.1 Market Overview and Background

Market Trends of Meme Coins and Character Collecting Games

Since 2021, meme coins have taken on a significant role in the crypto asset industry. In particular, the booming activity on the Solana blockchain in 2024 has led to meme coins being recognized as a legitimate investment category. In this trend, PEPE saw explosive popularity in 2023, surpassing $1.6 billion in market capitalization in May 2023 [1] and becoming an iconic meme coin.

PEPE's success clearly demonstrates the power of memes and the importance of community. In May 2023, PEPE's price surged nearly tenfold within five days, drawing significant attention. By September 2023, PEPE's market cap had reached approximately $3.9 billion [2], surpassing many major altcoins. This phenomenon highlights the potential market size and influence of a well-designed meme coin project.

Meanwhile, character-collecting games, such as Pokémon, have been globally beloved for over 25 years, with cumulative sales of the Pokémon franchise exceeding $90 billion as of 2024 [3].

Game Market Growth Projections

The global video game market continues to grow rapidly, with the mobile game market leading the charge. According to FoxData, the mobile game content market was valued at an estimated $140.5 billion in 2023, representing approximately 51% of total global video game revenue. Moreover, this figure is projected to reach $173.4 billion by 2026 [4].

The blockchain gaming market is also expanding quickly, with the market capitalization of CoinMarketCap’s Play-to-Earn (P2E) gaming category surpassing $8.1 billion as of May 2024 [5].

Additionally, the NFT market has seen explosive growth, with a transaction volume of approximately $25 billion in 2021 [6], and demand for gaming-related NFTs continues to rise.

Online Gambling Market Potential

The online gambling market is experiencing rapid growth, with Straits Research predicting that the global online gambling market will reach $153 billion by 2030 [7]. Online casinos that utilize crypto assets are also increasing in popularity, presenting enormous growth opportunities in this sector.