MANILA, PHILIPPINES — The 2024 Blockchain Game Alliance (BGA) Report reveals that Web3 gaming is gaining traction among traditional video game enthusiasts rather than cryptocurrency aficionados. This shift signals a promising future for blockchain gaming as it becomes more accessible to a broader audience.
Key Findings of the Report
According to the BGA’s 2024 State of the Industry Survey and Report, the adoption of blockchain gaming is expanding beyond the crypto space. Over half of the respondents (52.5%) identified as gaming professionals, while only 10.8% were blockchain or cryptocurrency specialists.
Additional Insights:
- Digital asset ownership: 71% of participants identified it as the most significant advantage of blockchain technology.
- New models: 40% pointed to innovative player reward and revenue systems as key benefits.
- Challenges persist: 53.9% cited onboarding and poor user experience (UX) as ongoing hurdles, while 66.3% noted a common misconception that blockchain games are scams.
- Diversity concerns: Women represented only 17.3% of respondents, underscoring a need for greater inclusivity.
“In 2024, blockchain games have become more user-friendly, with onboarding being less of a challenge than in previous years,” said Sebastien Borget, President of the BGA. However, he acknowledged that issues like negative perceptions and bot activity remain barriers to wider adoption.
Growing Interest Among Developers
Web3 game developers are leveraging social media and novel mechanics to ease entry for players. Examples include:
- Social gaming: Platforms like Telegram are being used to enable access to Web3 games.
- Memecoins: Players can earn these humor-based digital assets during in-game events to boost engagement.
- Social share functionality: Players can buy and sell shares of social connections, fostering closer interaction within the Web3 community.
Major Gaming Companies Embrace Web3
Prominent developers are integrating blockchain technology into their projects:
- Sony has launched Soneium, a layer-2 Ethereum blockchain, to explore new creator and fan-centric features.
- Ubisoft is developing a blockchain-based game, “Captain Laserhawk, The G.A.M.E.,” inspired by its Far Cry franchise.
- Square Enix has invested in the Web3 platform HyperPlay as part of its exploration into blockchain-powered gaming.
Future Trends in Web3 Gaming
The report outlines several potential growth paths for the industry in 2025:
- Smaller Web3 gaming projects may merge with larger firms or be acquired.
- Web3 technology will integrate seamlessly into traditional video games, providing benefits without disrupting gameplay.
- AI will enhance games by analyzing player behavior and creating adaptive experiences.
- Interconnected economies will allow players to carry their in-game reputation across titles.
- Decentralized e-sports will empower smaller communities to host their own tournaments.
A Bright Future for Blockchain Gaming
The Blockchain Game Alliance, in collaboration with Emfarsis, conducted the survey using a mix of qualitative and quantitative methods. The study garnered 623 valid responses, a significant increase from previous years, reflecting growing interest in the sector.
Web3 gaming continues to evolve, showing promise for both developers and players as blockchain technology becomes an integral part of gaming’s future.
