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According to the report, more blockchain gaming professionals now come from gaming than any other field. Blockchain Game Alliance (BGA) 2024 State of the Industry survey and report.
More than half of respondents (52.5%) reported having gaming experience, marking the highest proportion recorded since the survey began in 2021.
By contrast, blockchain or cryptocurrency specialists now make up just 10.8% of the field, a significant drop from 21.7% in 2023. For an industry that has faced a lot of scrutiny regarding the importance of Creating games that prioritize fun and are less financialized is significant. To see a greater prevalence of professionals with gaming experience rather than blockchain or cryptocurrency, according to the fourth annual report.
The report also shows that digital asset ownership remains the biggest benefit of integrating blockchain technology into games, with 71.1% of respondents identifying it as such. This has been the highest-ranked benefit among industry professionals since the inaugural 2021 survey.
Following this, four in 10 respondents said that new player reward models and revenue models are the next biggest benefits that blockchain can introduce to gaming. Many respondents highlighted the incentive and earnings systems for players that are only possible through Web3 technology.
Onboarding and poor user experience remain the biggest challenge in the blockchain gaming industry, according to 53.9% of respondents. However, this figure has dropped significantly from 79.5% in 2023. The data reflects the industry’s focus on making Web3 games easier to access, with many moving the more technical aspects of blockchain to a background.
As for the negatives, 23.8% of respondents said they saw crypto winter as a headwind. Another 17.3% said traditional games and platforms banning NFTs was another setback. About 14.9% cited macroeconomic events, 6.3% said security and threat protection were negative, and 6.1% said regulatory developments were difficult.
“In 2024, we have seen real progress in making blockchain games more accessible and now, industry professionals say that incorporation is less of a barrier than last year,” said Sebastien Borget, president of BGA and director of operations of The Sandbox. , in a statement. “Another important change based on our survey findings is that more professionals are entering web3 with experience in traditional games, rather than cryptocurrencies, and that is influencing the types of games that are developed, particularly those that prioritize fun experiences. and attractive over complexity. “The success of platforms like TON (on Telegram) highlights how simple, accessible games can really drive mass adoption.”
The report also revealed that the industry continues to battle misconceptions, with 66.3% of respondents saying they still face accusations that blockchain games are a scam or Ponzi scheme, according to the report. A new misconception that has gained momentum in 2024 is that Web3 games are full of bots, identified by 29.5% of respondents.
Overall, interest in blockchain gaming increased in 2024, with three times as many participants compared to the 2021 survey. However, gender diversity remains an ongoing challenge, with only 17.3% female representation among the respondents.
“As the market recovery continues, we are witnessing the remarkable resilience of our industry. “This year has brought significant advancements in top-tier gaming and strategic collaborations between leading Web2 companies and blockchain ecosystems,” Borget said in the report. “There is a clear sense of confidence in our annual survey: more than eight in 10 respondents say they
“We are committed to remaining in the industry over the next year, signaling unwavering dedication to our progress.”
Borget noted that blockchain gaming has also expanded its reach globally, with strong growth seen in South America, the Middle East and Africa. This marks a significant change from the early years of the survey.
At the heart of this growth is the principle of player empowerment. Digital asset ownership remains a cornerstone, with 71.1% of respondents recognizing it as the biggest benefit blockchain games offer. Experimenting with new revenue and reward models also remains a priority for developers, reflecting our continued drive to design games and virtual economies that place legitimate value on player engagement while also being demonstrably robust and sustainable. Borget said.
“Finally, our focus on gender diversity has shown an encouraging increase in female participation after a downward trend,” Borget said. “But we are far from where we would like to be in terms of women’s representation at the BGA, so our work continues to ensure we include and represent all groups within our industry. “Together, we are building an industry that empowers players, fosters innovation, and reshapes the future of gaming.”
The transition from traditional games and IPs to Web3 was cited as the largest positive impact on Web3 games in 2024 at 18.6%, up from 2023 when it was second at 15.2%. This is followed by traditional studios creating new IP on web3 with 15.7% in 2024, falling from its previous top spot in 2023 with 19.8%. From 2023 to 2024, the percentage of respondents who have referenced traditional game studios remains unchanged at approximately 34% combined.
Predictions for Web3 games in 2025
As for predictions for 2025, respondents expect to see the consolidation of blockchains and infrastructure into fewer alternatives. To survive, many of these infrastructure projects will choose to consolidate, either merging with other smaller companies or being absorbed by a larger one.
Web3 is also expected to run in the background, rather than being openly displayed like it was in the first generation of money-making games. The prevailing opinion is that most people entering the Web3 gaming space are primarily focused on the player experience and have limited interest in the underlying technical aspects. Since the last market cycle, more efforts have been put into UX and UI, prioritizing a fluid experience similar to what players would expect from Web2 games.
And AI is expected to introduce new, personalized gaming experiences. Many game developers have been exploring applications of AI, which has been primarily used for data collection and analysis, although some have dabbled in generative AI for development. With the advent of fully chained games and autonomous worlds, AI will continue to become the foundation of gaming. AI that collects data from players can evolve to a point where it enables personalized experiences, ranging from providing recommendations based on player behavior to fine-tuning in-game interactions.
The industry hopes that there will also be greater interoperability between blockchain gaming infrastructure. Interoperability will move from a technical feature to a cornerstone of gaming identity, fostering interconnected economies, collaborative storytelling, and a unified sense of progression across the metaverse.
And finally, decentralization is expected to take root in esports. Esports competitions have always been centralized systems where key organizers and game developers have authority over all major decisions. These entities often determine the direction of a game’s competitive scene, including the format, ranked teams, and tournament prize pools. Decentralizing these systems could create esports that are more closely aligned with community interests. They can include more teams, vote on the format change and contribute to the prize pool. Decentralized esports will unlock more gaming possibilities.
Methodology
Now in its fourth year, BGA’s annual State of the Industry Report was conducted, analyzed and compiled by consulting firm Web3 Emfarsis, a task the company has undertaken since BGA’s inception. The report covers adoption, careers, innovation, growth and other key developments.
To make the report more comprehensive, respondents come from professionals across the different sectors of Web3 gaming, from content creators to journalists, C-level executives, government officials, researchers, investors, and more. The results help give an idea of the current state of blockchain games and its trajectory for the following year.
In 2024, the BGA partnered with consulting firm Emfarsis for the fourth consecutive year to conduct its industry survey, which includes 19 questions on careers, industry growth, adoption and challenges. The survey was conducted from August 21 to September 29, 2024 and distributed through the BGA member database, LinkedIn, email, X and Telegram, with additional responses collected at events such as Gamescom Cologne and TOKEN2049. Of 716 responses, 93 were excluded for being incomplete, leaving 623 valid responses.
for analysis.
The 2024 survey received 623 valid responses, an increase of 18.4% from 2023 and almost three times more than the previous year.
Blockchain Game Alliance (BGA) is an organization committed to promoting blockchain within the gaming industry. The BGA’s goal is to raise awareness of blockchain technologies and encourage their adoption by highlighting their potential to foster new ways of creating, publishing, playing, and building strong communities around games. The group has 350 members in 50 countries.
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