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BGA State of the Industry Report 2023: Blockchain Game Alliance

BGA State of the Industry Report 2023: Blockchain Game Alliance

Game Review 

In order to shed light on the industry’s challenges and opportunities, the Blockchain Game Alliance (BGA) is starting a full study of the 2023 blockchain gaming scene. Based on responses from 536 professionals around the world, this study shows the current state of blockchain gaming, including its effects on emerging regions, survey demographics, professional experiences, and important people who work in the industry. You can read the report here.

Global Impact and Emerging Regions

MENA’s Strategic Ascendance

The Middle East and North Africa (MENA) region emerges as a strategic player, attracting significant investments due to regulatory clarity in places like Dubai and the UAE. Dubai’s $4 billion commitment to metaverse development and Saudi Arabia’s $50 million investment into Animoca Brands position MENA as an attractive hub for web3 services.

Oceania’s Impact and Limited Representation

Oceania, a powerhouse of blockchain gaming innovation with projects like Immutable X, Gods Unchained, and Illuvium, maintains a low representation at 1.7% in the survey. Notable contributions from this region underscore its influence on the global stage.

Survey Demographics: Insights into Industry Professionals

Diverse Roles and Rich Experience

With over 320 companies participating, the survey reflects the diverse tapestry of roles within the blockchain gaming industry. Gaming studios constitute 43.5% of respondents, emphasizing the industry’s diverse expertise. Majority of respondents (54.8%) bring one to three years of experience, offering insights spanning the bullish market of 2020-21 through the current bear market.

Dominance of Senior Leadership

An impressive 70.7% of respondents hold senior positions, ranging from founders to executives and non-executive managers. This prevalence of experienced professionals underscores the industry’s maturity and the wealth of insights contributing to the survey.

Unveiling Diverse Roles in Web3 Gaming

The category “Other Contributors” represents 29.3% of survey respondents, emphasizing the diverse roles within web3 gaming. This category includes freelancers, interns, content creators, KOLs, community managers, moderators, professional esports players, and more. The evolving nature of the industry suggests a need for in-depth exploration of this diversity in future surveys.

Professional Experience and Roles

Industry Expertise: A Varied Skill Set

Respondents bring diverse professional experiences, with 34.2% emphasizing gaming expertise, 21.7% in crypto, 10.8% in development, 8.7% in marketing, and 15.2% in sales and management. This rich skill set contributes to the well-rounded perspectives reflected in the survey.

Roles Across the Industry Spectrum

A breakdown of roles reveals 39.7% as founders or C-level executives, 31.0% as non-executive managers, and 29.3% falling into the “Other Contributors” category. The significant representation of varied roles underscores the industry’s collaborative and multidimensional nature.

A Glimpse at Respondents’ Companies

Diversity in Industry Contributors

The survey boasts responses from over 320 companies, showcasing the industry’s diverse tapestry. Notable contributors include The Sandbox, Yield Guild Games (YGG), Upland, Star Atlas, DappRadar, Game7, Polygon, Binance, Square Enix, Google Cloud, Amazon Web Services (AWS), Georgia State University, and more. These entities contribute to the industry’s diverse and dynamic ecosystem.

Future Exploration and In-Depth Analysis

Setting the Stage for Deeper Analysis

The 2023 State of the Industry Report not only captures the current state of the blockchain gaming sector but also sets the stage for future explorations. As the industry continues to evolve, deeper analyses of roles, diversity, and regional contributions will be crucial for a comprehensive understanding of this transformative space.

Survey Methodology: A Rigorous Approach

The report’s findings are grounded in a robust methodology. The BGA, for the third successive year, partnered with consulting firm Emfarsis to conduct the survey and analyze its responses. The survey, consisting of 22 questions, was launched at Gamescom, Cologne, Germany, and closed on October 9, 2023. Emfarsis utilized SurveyMonkey for the survey, employing various channels for distribution, including the BGA Member Database, LinkedIn, email, Twitter, WhatsApp, and Telegram.

Blockchain Gaming Benefits and Industry Voices

True Digital Ownership: A Paradigm Shift

“In 2023, asset ownership for players was cited as the top benefit that blockchain can bring, according to 76.2% of the respondents.” This paradigm shift underscores the transformative power of blockchain, providing players with true ownership, enabling them to trade, collect, and truly control in-game resources.

Benefits of Blockchain Gaming

The resounding consensus across the years positions asset ownership for players as the top benefit. New revenue models and player reward models consistently hold strong positions. The evolving industry landscape reflects changing attitudes, with interoperability, DAOs/community governance, and optional creator royalties making notable appearances.

Industry Voices on True Digital Ownership

“When we launched Axie Infinity in 2018, our core community was 300 people strong and only a handful of other projects were building alongside us.” Aleksander Larsen, Co-founder and COO of Sky Mavis, highlights the journey from humble beginnings to a robust industry where builders and leaders collaborate to change the gaming landscape.

Future Outlook: Mainstream Adoption

There is a strong belief that mainstream adoption will gain momentum in 2024, with more than half (52.1%) of respondents confident that at least 20% of the gaming industry will likely leverage blockchain technology within the next 12 months. This optimism underscores the industry’s potential for widespread impact.

Industry Leaders’ Perspectives

Voices from industry leaders, including Yat Siu (Chairman, Animoca Brands) and Tim Dierckxsens (Co-founder and CEO, Venly), emphasize the revolutionary impact of blockchain gaming. True digital ownership, decentralization, and transformative power are recurring themes in shaping the industry’s future.

BGA State of the Industry Report 2023: Blockchain Game Alliance
BGA State of the Industry Report 2023: Blockchain Game Alliance

Conclusion Blockchain Game Alliance

As blockchain gaming evolves, industry professionals, enthusiasts, and thought leaders play a pivotal role in shaping its trajectory. The 2023 State of the Industry Report serves as a compass, guiding stakeholders through the dynamic landscape. With a foundation built on true digital ownership, diverse roles, and global collaboration, the industry stands poised for continued innovation, creativity, and transformative growth. Engaging in the ongoing discourse and staying connected to the pulse of blockchain gaming ensures active participation in the journey toward a future defined by true ownership, decentralized communities, and groundbreaking gaming experiences.

BGA State of the Industry Report 2023: Blockchain Game Alliance

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BGA State of the Industry Report 2023: Blockchain Game Alliance

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.