Extra professionals in blockchain gaming now come from a background in gaming than some other subject, based on the Blockchain Recreation Alliance (BGA) 2024 State of the Trade survey and report.
Over half of respondents (52.5%) reported to have gaming experience, marking the very best proportion recorded for the reason that survey’s inception in 2021.
In distinction, blockchain or cryptocurrency specialists now account for simply 10.8% of the sector, a major drop from 21.7% in 2023. For an business that has confronted nice scrutiny concerning the significance of constructing fun-first and fewer financialized video games, it’s vital to see an elevated prevalence of pros coming from a background in gaming versus blockchain or cryptocurrency, the fourth annual report mentioned.
The report additionally exhibits that digital asset possession continues to be the largest advantage of integrating blockchain know-how in video games, with 71.1% of respondents figuring out it as such. This has been the top-ranked profit amongst business professionals for the reason that inaugural survey in 2021.
Following this, 4 out of each 10 respondents mentioned that new participant reward fashions and income fashions are the subsequent greatest advantages that blockchain can introduce to gaming. Many respondents highlighted incomes and incentivization methods for gamers which are solely potential by means of Web3 know-how.
Onboarding and poor consumer expertise stays the largest problem within the blockchain gaming business, based on 53.9% of respondents. Nonetheless, this quantity has dropped considerably from 79.5% in 2023. The information displays the business’s deal with making Web3 video games simpler to entry, with many transferring the extra technical blockchain facets to the background.
As for negatives, 23.8% of these surveyed mentioned they noticed the crypto winter as a headwind. One other 17.3% mentioned conventional video games and platforms banning NFTs was one other setback. About 14.9% cited macroeconomic occasions, 6.3% mentioned safety and menace safety was a destructive, and 6.1% mentioned regulatory developments had been tough.
“In 2024, we’ve seen real progress in making blockchain games more accessible, and now, industry professionals say that onboarding is less of a barrier than it was last year,” mentioned Sebastien Borget, president of the BGA and COO of The Sandbox, in a press release. “Another major shift according to the findings of our survey is that more professionals are coming into web3 with a background in traditional gaming, rather than crypto, and that is influencing the types of games being developed, particularly those that prioritize fun and engaging experiences over complexity. The success of platforms like TON (on Telegram) highlights how simple, approachable games can really drive mass adoption.”
The report additionally revealed that the business continues to battle misconceptions, with 66.3% of respondents saying they nonetheless encounter accusations that blockchain video games are a rip-off or Ponzi scheme, the report mentioned. A brand new false impression that has gained momentum in 2024 is that Web3 gaming is filled with bots, recognized by 29.5% of respondents.
General, curiosity in blockchain gaming elevated in 2024, with thrice extra contributors in comparison with the 2021 survey. Nonetheless, gender variety stays an ongoing problem, with solely 17.3% feminine illustration amongst respondents.
“As market recovery continues, we’re witnessing the remarkable resilience of our industry. This year has brought significant advancements in top-tier games and strategic collaborations between leading Web2 companies and blockchain ecosystems,” Borget mentioned within the report. “There’s a clear sense of confidence coming through in our annual survey, with more than eight out of 10 of respondents stating that they
are committed to remain in the industry over the next year, signaling unwavering dedication to our progress.”
Borget famous blockchain gaming has additionally expanded its attain globally, with robust progress noticed in South America, the Center East, and Africa. This marks a major shift from the early years of the survey.
On the coronary heart of this progress is the precept of participant empowerment. Digital asset possession stays a cornerstone, with 71.1% of respondents recognizing it as the only greatest profit that blockchain gaming delivers. Experimenting with new fashions for income and rewards can be nonetheless prime of thoughts for builders, reflecting our continued drive to design video games and digital economies that place authentic worth on participant engagement whereas additionally being demonstrably sturdy and sustainable, Borget mentioned.
“Finally, our focus on gender diversity has shown an encouraging increase in female participation following a declining trend,” Borget mentioned. “But we are far from where we’d like to be in terms of women’s representation in the BGA, so our work continues, to make sure we include and represent all groups within our industry. Together, we build an industry that empowers players, fosters innovation, and reshapes the future of gaming.”
Conventional video games and IPs transitioning to Web3 was cited as the only greatest constructive influence in Web3 gaming in 2024 at 18.6%, rising from 2023, when it was ranked second at 15.2%. That is adopted by conventional studios creating new IPs in web3 at 15.7% in 2024, dropping from its beforehand held prime spot in 2023 at 19.8%. From 2023 to 2024, the proportion of survey respondents which have referenced conventional recreation studios stay unchanged at roughly 34% mixed.
Predictions for Web3 gaming in 2025
As for predictions for 2025, these surveyed count on to see consolidation of blockchains and infrastructure into fewer alternate options. As a way to survive, many of those infrastructure initiatives will select to consolidate, both merging with different smaller corporations or being absorbed by a bigger one.
Web3 can be anticipated to function within the background, as an alternative of being overtly displayed like they had been within the first era of play-to-earn video games. The prevailing view is that almost all people coming into the Web3 gaming area are primarily targeted on the participant expertise and have restricted curiosity within the underlying technicalities. For the reason that final market cycle, extra efforts have been put into UX and UI, prioritizing a seamless expertise just like what gamers would count on from Web2 video games.
And AI is predicted to introduce new and customized gaming experiences. Many recreation builders have been exploring the purposes of AI, which has been primarily used for knowledge gathering and evaluation, though some have dabbled into generative AI for improvement. With the appearance of totally onchain video games and autonomous worlds, AI will proceed to grow to be a core basis of gaming. AI gathering knowledge from gamers could evolve to a degree the place it permits customized experiences, starting from offering suggestions primarily based on participant habits to adjusting in-game interactions.
The business expects that there shall be enhanced interoperability as effectively among the many blockchain gaming infrastructure. Interoperability will shift from being a technical characteristic to a cornerstone of gaming identification, fostering interconnected economies, collaborative storytelling, and a unified sense of development throughout the metaverse.
And lastly, decentralization is predicted to take root in esports. Esports competitions have at all times been centralized methods the place key organizers and recreation builders maintain authority over all main selections. These entities usually decide the course of a recreation’s aggressive scene, together with the format, qualifying groups, and prize pool of tournaments. Decentralizing these methods may create esports which are extra carefully aligned with group pursuits. They’ll embrace extra groups, vote on altering the format, and contribute to prize swimming pools. Decentralized esports will unlock extra prospects for gaming.
Methodology
Now in its fourth yr, the annual BGA State of the Trade Report was carried out, analyzed, and compiled by Web3 advisory agency Emfarsis, a process the corporate has carried out for the reason that BGA’s inception. The report covers adoption, careers, innovation, progress, and different key developments.
To make the report extra complete, respondents come from professionals throughout the completely different sectors inside Web3 gaming, from content material creators to journalists, C-level executives, authorities officers, researchers, buyers and extra. The outcomes assist give insights into the present state of blockchain gaming and its trajectory heading into the next yr.
In 2024, the BGA partnered with consulting agency Emfarsis for the fourth consecutive yr to conduct its business survey, that includes 19 questions on careers, business progress, adoption, and challenges. The survey ran from August 21 to September 29, 2024, and was distributed by means of the BGA Member Database, LinkedIn, electronic mail, X, and Telegram, with further responses gathered at occasions equivalent to Gamescom Cologne and TOKEN2049. Of 716 responses, 93 had been excluded as incomplete, leaving 623 legitimate responses
for evaluation.
The 2024 survey obtained 623 legitimate responses, an 18.4% enhance over 2023 and practically thrice that of the yr earlier than.
The Blockchain Recreation Alliance (BGA) is a corporation dedicated to selling blockchain inside the recreation business. The BGA’s objective is to unfold consciousness about blockchain applied sciences and encourage adoption by highlighting their potential to foster new methods to create, publish, play, and construct robust communities round video games. The group has 350 members in 50 nations.
