# Background
1. Service Background
The blockchain finance market has been formed to date with expectations for new markets and the influx of market size. In the process, we have experienced two bull markets.
The first bull market saw a boom in the market, led by Bitcoin, due to new expectations and curiosity about the blockchain finance market, including the emergence of various altcoins such as Ethereum, Ripple, and Bitcoin Cash.
The second bull market led the market boom based on technical implementations and services proving various systems utilizing blockchain, such as mainnets, NFTs, and staking systems.
Through this process, a market ecosystem was formed with the rise and fall of cryptocurrency prices due to expectations, the appearance of users who realized profits, and the influx of users who aspire to them. In this process, cryptocurrencies such as Bitcoin and Ethereum have proven their presence in the market as digital assets reflecting their value according to market supply.
In other words, the market has not yet been formed as a universal commodity or service providing economic value through actual sales and performance.
As a result, there is a story in the blockchain market that cryptocurrency exchanges are the real winners. This is because exchanges provide trading services in the market and generate actual market revenue.
The blockchain finance market is already evolving rapidly, creating new concepts and eras such as Central Bank Digital Currencies (CBDCs) and digital assets. In this, cryptocurrencies will play an important role as one of the axes of the market in the upcoming Fourth Industrial Revolution era, despite its specificity. Therefore, it is now time for the blockchain finance market to prove its value through business performance or market sales. In the upcoming third bull market, cryptocurrencies that can prove their value through content sales and results will lead the market.
Although the blockchain finance market is experiencing various challenges as it grows, one thing to note is that it has proven its value as a global currency. The upcoming third bull market and the Fourth Industrial Revolution era are crucial moments to seize the market by utilizing the advantages and values of blockchain.
As one of the service industries that will shape that market, we have chosen the blockchain casino business. The blockchain casino business can immediately generate actual service revenue like cryptocurrency exchanges and is a blue ocean business utilizing global currency that will show its growth trajectory over the next few years, along with the third bull market.
The future of the cryptocurrency market lies not only in speculative and speculative markets but also in the realization of actual sales using one of the advantages of the cryptocurrency market: the value of global currency and financial value.
The headquarters will start with the blockchain casino business and expand to various blockchain-related businesses based on revenue from the blockchain market.
2. Market Opportunity
By 2023, the global casino market is expected to grow to USD 263.3 billion (approximately 316 trillion won), recording an average annual growth rate of 4.86% from 2022 to 2027.
Despite the COVID-19 era, the global online casino market has been relatively less affected compared to offline casinos. Specifically, it is expected to reach USD 61.55 billion in 2022, USD 69.57 billion in 2023 (approximately 98 trillion won), and USD 105.77 billion (approximately 148 trillion won) by 2032.
- Reference: Korea Casino Industry Tourism Association - Research on Domestic and International Casino Regulatory Systems and Comparative Studies (October 2023 Research Data)
< Reference Articles Related to Online Casinos >
According to various research reports recently published, the global casino industry and market continue to grow in size every year, and the online casino market, in line with the era's changes, is also growing.
In particular, the blockchain casino market, which goes beyond simple online platforms, holds greater appeal as it enables global services rather than being limited to specific regions. Given the potential for global marketing and service provision, not only in markets such as the United States and Europe where the casino industry is already developed but also in the steadily growing Asian market, the market size is expected to expand further.
The blockchain casino business has been forming its market since 2023, led by Rollbit.
Rollbit Coin ($RLB) saw a 1,300% growth in value over the first half of 2023, with the difference between the lowest and highest prices reaching an impressive 11,565.16% as of 2023. Additionally, Rollbit's annual revenue in the same year reached approximately $355 million (around 497 billion Korean Won), setting a good precedent.
This market, intertwined with the third bull market, is expected to show even greater growth in the coming years.
Due to the nature of online platforms, it is expected to have greater scalability than the offline casino market, which mainly targets locals and tourists, and can continue to maintain stable revenue as a big corporation providing global services. Just as various latecomers such as Ethereum, Solana, and Binance (BNB) have proven their success against the backdrop of Bitcoin's growth, the blockchain casino market is poised to seize opportunities for challenges and growth in 2024.
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