2024 Blockchain Gaming Report: Shifts in Talent and Innovation
2024 Blockchain Gaming– The 2024 Blockchain Game Alliance (BGA) report reveals major shifts in the blockchain gaming industry, with a growing number of professionals from traditional gaming backgrounds. The trend signals a move towards more engaging, fun-first games as opposed to purely financialized models. Here’s a breakdown of the latest findings from the BGA’s annual survey.
Professionals in Blockchain Gaming: A Shift Toward Traditional Gaming Expertise
The report highlights a significant change in the skill sets of professionals in blockchain gaming. For the first time since the survey began in 2021, more than half of the respondents (52.5%) have a background in gaming. This marks a notable increase from previous years, reflecting a shift towards game development that prioritizes entertainment over financial mechanisms.
In contrast, the proportion of blockchain or cryptocurrency specialists has dropped to just 10.8%, down from 21.7% in 2023. This trend is seen as a response to growing concerns within the industry about focusing too heavily on the financial aspects of gaming and neglecting the fun and engaging experience that players expect.
In 2024, we’ve seen real progress in making blockchain games more accessible, said Sebastien Borget, president of the BGA and COO of The Sandbox. He noted that more professionals are entering the Web3 space with a background in traditional gaming, influencing the development of more enjoyable and less complex games.
Digital Asset Ownership Remains the Top Benefit
One of the most significant takeaways from the survey is that digital asset ownership continues to be the biggest benefit of integrating blockchain into games. A solid 71.1% of respondents identified digital asset ownership as the most valuable advantage. This has been the top-ranked benefit since the first survey in 2021 and underlines the importance of empowering players with control over in-game assets.
Player Reward Models: New Opportunities in Web3 Gaming
Along with asset ownership, new player reward and revenue models were cited by four out of ten respondents as the next biggest benefit that blockchain can bring to gaming. These models, powered by Web3 technology, are seen as opportunities to create more rewarding player experiences. Incentivization systems that reward players for their time and effort in games are among the innovations that have gained traction in the blockchain gaming community.
Onboarding and User Experience: Major Challenges Ahead
While blockchain gaming has made significant strides, onboarding and poor user experience (UX) remain the most significant challenges for the industry, according to 53.9% of respondents. However, this number has seen a marked decrease from 79.5% in 2023, reflecting efforts to simplify the user experience and make blockchain games more accessible.
The focus is now on improving UX and making Web3 gaming platforms as user-friendly as Web2 games. Many developers are working to move the complex blockchain mechanics to the background, making the process easier for players to enjoy without needing in-depth knowledge of the underlying technology.
Challenges Faced by the Industry
The report also touches on some ongoing challenges faced by blockchain gaming. A significant 23.8% of respondents mentioned the “crypto winter” as a headwind, while 17.3% pointed to traditional gaming platforms banning NFTs as a setback for the industry. Other challenges mentioned include macroeconomic events (14.9%), security threats (6.3%), and regulatory uncertainty (6.1%).
“This year has brought significant advancements in top-tier games and strategic collaborations between leading Web2 companies and blockchain ecosystems,” said Borget, highlighting the resilience of the industry despite these hurdles.
Blockchain Gaming’s Global Expansion
The blockchain gaming industry has also expanded its reach, with strong growth seen in South America, the Middle East, and Africa. This marks a shift from the early years of the survey, where blockchain gaming was predominantly concentrated in Western markets.
Borget emphasized that the continued focus on player empowerment and digital asset ownership remains a core principle as the industry evolves. He also pointed out that experimentation with new models for rewards and revenue is driving the industry forward.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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