The Blockchain Game Alliance (BGA) has unveiled its 2023 State of the Industry Report, presenting insights into trends and forecasts within the blockchain gaming sector. In a survey of industry professionals, a prevailing belief emerged that the widespread embrace of web3 games will be propelled by existing web2 studios and franchises. Notably, 19.8% of respondents consider the launch of web3 games by traditional studios as the most impactful development for the sector in 2023, while 15.2% highlight the transition of web2 or traditional gaming into the web3 realm. A collective 35% of participants emphasize the vital role of web2 game studios, emphasizing their contributions of talent, experience, brand recognition, and substantial audience bases in advancing web3 adoption.
Furthermore, the report signals a robust conviction among 52.1% of respondents that at least 20% of the global video game industry, anticipated to reach a valuation of $347 billion by year-end, will seamlessly integrate blockchain technology in the next 12 months. This optimism is reinforced by major web2 gaming entities, such as CCP Games (EVE Online), Nexon (MapleStory), Ubisoft, Square Enix, Bandai Namco, Com2uS, SEGA, Konami, Atari, and Netmarble, expressing their commitment to incorporating web3 elements in 2023.
Despite these positive indicators, the industry confronts significant challenges, particularly in onboarding and user acquisition, identified by 55.1% and 35.4% of respondents, respectively. An alarming 70% of participants grapple with persisting misconceptions around blockchain gaming, often associating it with fraud or Ponzi schemes. A notable trend observed in the report is the concerning decline in women’s participation, reaching an all-time low of 16.9%.
Sebastien Borget, President of the BGA, offered commentary on the report, emphasizing the transformative nature of 2023. He noted that despite economic pressures and media challenges, those actively involved in the space have displayed increased discipline and focus, anticipating the emergence of new leaders. The BGA aims to spotlight trends and feature emerging leaders in the gaming industry, expressing gratitude for the record response rates and eagerly anticipating future collaborative endeavors shaping the industry’s trajectory.
In essence, the Blockchain Game Alliance’s 2023 State of the Industry Report paints a nuanced yet promising outlook for the future of blockchain gaming. It underscores the pivotal role envisioned for established web2 studios and franchises, foreseeing them as instrumental in driving the widespread adoption of web3 gaming. Their involvement is anticipated not only to bring valuable experience and expansive audience reach but also to signify a critical stride in uniting traditional gaming with the innovative potential offered by blockchain technology.