Extra professionals in blockchain gaming now come from a background in gaming than some other subject, in accordance with the Blockchain Sport Alliance (BGA) 2024 State of the Business survey and report.
Over half of respondents (52.5%) reported to have gaming experience, marking the 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 sphere, a big drop from 21.7% in 2023. For an trade 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 expertise in video games, with 71.1% of respondents figuring out it as such. This has been the top-ranked profit amongst trade 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 might be solely potential via Web3 expertise.
Onboarding and poor person expertise stays the largest problem within the blockchain gaming trade, in accordance with 53.9% of respondents. Nonetheless, this quantity has dropped considerably from 79.5% in 2023. The information displays the trade’s deal with making Web3 video games simpler to entry, with many shifting the extra technical blockchain points 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 risk safety was a detrimental, and 6.1% mentioned regulatory developments had been troublesome.
“In 2024, we’ve seen actual progress in making blockchain video games extra accessible, and now, trade professionals say that onboarding is much less of a barrier than it was final 12 months,” mentioned Sebastien Borget, president of the BGA and COO of The Sandbox, in a press release. “One other main shift in accordance with the findings of our survey is that extra professionals are coming into web3 with a background in conventional gaming, reasonably than crypto, and that’s influencing the kinds of video games being developed, significantly those who prioritize enjoyable and fascinating experiences over complexity. The success of platforms like TON (on Telegram) highlights how easy, approachable video games can actually drive mass adoption.”
The report additionally revealed that the trade continues to combat 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 stuffed with bots, recognized by 29.5% of respondents.
Total, curiosity in blockchain gaming elevated in 2024, with 3 times 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 restoration continues, we’re witnessing the exceptional resilience of our trade. This 12 months has introduced vital developments in top-tier video games and strategic collaborations between main Web2 firms and blockchain ecosystems,” Borget mentioned within the report. “There’s a transparent sense of confidence coming via in our annual survey, with greater than eight out of 10 of respondents stating that they
are dedicated to stay within the trade over the subsequent 12 months, signaling unwavering dedication to our progress.”
Borget famous blockchain gaming has additionally expanded its attain globally, with sturdy progress noticed in South America, the Center East, and Africa. This marks a big 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 also be nonetheless high of thoughts for builders, reflecting our continued drive to design video games and digital economies that place legit worth on participant engagement whereas additionally being demonstrably sturdy and sustainable, Borget mentioned.
“Lastly, our deal with gender variety has proven an encouraging improve in feminine participation following a declining pattern,” Borget mentioned. “However we’re removed from the place we’d prefer to be when it comes to girls’s illustration within the BGA, so our work continues, to verify we embody and characterize all teams inside our trade. Collectively, we construct an trade that empowers gamers, fosters innovation, and reshapes the way forward for gaming.”
Conventional video games and IPs transitioning to Web3 was cited as the only greatest constructive affect 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 high spot in 2023 at 19.8%. From 2023 to 2024, the share 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. With a purpose to survive, many of those infrastructure tasks will select to consolidate, both merging with different smaller firms or being absorbed by a bigger one.
Web3 can also be anticipated to function within the background, as an alternative of being overtly displayed like they had been within the first technology of play-to-earn video games. The prevailing view is that almost all people getting 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 much like what gamers would count on from Web2 video games.
And AI is anticipated to introduce new and customized gaming experiences. Many recreation builders have been exploring the purposes of AI, which has been primarily used for information 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 change into a core basis of gaming. AI gathering information 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 trade expects that there shall be enhanced interoperability as effectively among the many blockchain gaming infrastructure. Interoperability will shift from being a technical function to a cornerstone of gaming id, fostering interconnected economies, collaborative storytelling, and a unified sense of development throughout the metaverse.
And lastly, decentralization is anticipated 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 choices. These entities typically decide the course of a recreation’s aggressive scene, together with the format, qualifying groups, and prize pool of tournaments. Decentralizing these methods might create esports which might be extra carefully aligned with neighborhood pursuits. They will embody 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 12 months, the annual BGA State of the Business Report was performed, analyzed, and compiled by Web3 advisory agency Emfarsis, a activity the corporate has accomplished 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 12 months.
In 2024, the BGA partnered with consulting agency Emfarsis for the fourth consecutive 12 months to conduct its trade survey, that includes 19 questions on careers, trade progress, adoption, and challenges. The survey ran from August 21 to September 29, 2024, and was distributed via the BGA Member Database, LinkedIn, e mail, X, and Telegram, with extra responses gathered at occasions similar to Gamescom Cologne and TOKEN2049. Of 716 responses, 93 had been excluded as incomplete, leaving 623 legitimate responses
for evaluation.
The 2024 survey acquired 623 legitimate responses, an 18.4% improve over 2023 and practically 3 times that of the 12 months earlier than.
The Blockchain Sport Alliance (BGA) is a company dedicated to selling blockchain inside the recreation trade. 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 sturdy communities round video games. The group has 350 members in 50 nations.
