Blockchain gaming continues to move past from its play-to-earn roots to a more sustainable, inclusive model, according to the Blockchain Game Alliance (BGA) 2024 State of the Industry Report.
Access the Blockchain Game Alliance 2024 State of the Industry Report here.
What’s the significance: Survey respondents to the report continue to see onboarding, user experience, and gameplay quality, among others as key challenges.
- At the same time, respondents see innovations in rewards and onchain technology as key milestone.
- With all that said, the industry appears to be preparing for 2025 to be the most pivotal year for the sector.
Key numbers:
- 71% of the industry professionals who answered the survey see digital asset ownership as the top benefit of blockchain gaming.
- Digital asset ownership is recognized as top benefit of blockchain gaming for 4 years in a row.
- From 79.5% in 2023, now only 53.9% see onboarding and poor user experience as biggest obstacles.
- Player reward model is another benefit highlighted by the report,
- Female representation increases in the industry, albeit a slow steady progress.
- There are more survey respondents this year, indicating growing interest.
Interoperability as key benefit declined but could make a comeback in 2025
One of the biggest supposed benefits of blockchain gaming is interoperability. To illustrate with brevity, it means any item or asset owned in one game can be utilized in another.
- Interoperability ranks 5th as key blockchain benefit to gaming in 2023 but slid down to 7th this year.
Still, industry professionals are optimistic that by 2025, the importance of interoperability will have mindshare across players and industry processionals:
“By 2025, interoperability will transcend simple asset transfers, enabling players to carry their digital reputation, verified skills, and achievements across games and platforms. This evolution will create dynamic, co-created ecosystems where in-game items.”
Blockchain Game Alliance
More takeaways
Global reach
- The Philippines remain global leader in play-to-earn gaming but the industry has expanded, showing huge player base across South America, Middle East and North Africa.
- Traditional play-to-earn models are being replaced by play-to-airdrop and SocialFi questing.
- The report mentioned how Telegram games could be a unique opportunity for developers especially with the fact that is already has a captive audience of 800+ million users.
- Fully onchain games (FOCGs) and dynamic NFTs are redefining what’s possible in blockchain gaming.
- Misconceptions like blockchain games being scams or Ponzi schemes (66.3%) or dominated by bots (29.5%) continue to undermine public perception.
2025 predictions
- Infrastructure projects will consolidate either by joining together or being absorbed by a larger one. This is already a common occurrence in web2, the report said.
- Web3 will soon just operate in the background and will not be the front and center and focus of the games.
- AI will become a core foundation of gaming. It could enable personalized experiences and/or adjust the game to complement player behavior.
- Interoperability (discussed above) will become cornerstone of the industry. The report predicts a point where there will be a “unified sense of progression across the metaverse.”
- Decentralized esports could unlock more gaming possibilities.
- Benefit of blockchain into esports was previously discussed in a BitPinas webcast.
What could this all mean?
- Perception appears to be that blockchain gaming is no longer about financial speculation or niche adoption, yet still carving out a specific segment that enable new revenue models and community driven ecosystems.
- Before 2024, there was a prolonged “crypto winter” when prices of tokens (gaming tokens included) had steadily decreased over time.
- With the bull run upon the industry, optimism is at its height, and many industry professionals share the view of a better 2025 for blockchain gaming:
“In 2025, Web3 gaming will see the release of its first blockbuster titles, marking a significant shift towards mainstream acceptance. With enhanced player ownership, integrated AI, and evolving economic models, the sector is set to redefine digital entertainment while attracting traditional gamers.”
Nicolas Gilot, CEO, Ultra
Access the Blockchain Game Alliance 2024 State of the Industry Report here.
This article is published on BitPinas: Web3 Gaming Poised for Blockbuster Breakthroughs in 2025 — Blockchain Game Alliance
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