Blockchain game industry counts on Web2 studios and franchises to drive Web3 adoption
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The blockchain game industry is still struggling to find adoption, and it’s looking to Web2 studios and franchises to lead the way.
That’s one of the insights from the 2023 State of the Industry Report from the Blockchain Game Alliance.
In a survey of 526 people at blockchain game companies, a significant 19.8% of those surveyed believe that traditional game studios venturing into the realm of Web3 gaming will have the most positive impact this year.
Moreover, 15.2% highlighted the transition of Web2, or traditional gaming, into Web3 as a critical driver. A total of 35.0% agreed that Web2 game studios committing to the adoption of Web3, leveraging their talent, experience, brand recognition, and vast mainstream audiences, has already been a pivotal factor in the industry’s progress this year.
The respondents were spread across the U.S., Europe, Asia and Latin America. About 70.7% of respondents in 2023 were in senior positions, whether as founders or at the executive level, or as non-executive managers within their companies and protocols.
The BGA noted that its members grew in certain regions, with respondents in Middle East and North Africa accounting for 5% of respondents, compared to few responses in the previous reports. That was due in part to regulatory clarity for Web3 in places such as Dubai and the United Arab Emirates in general. In 2022, Dubai committed $4 billion to metaverse development over five years, and Saudi Arabia’s Neom special economic zone recently invested $50 million in Animoca Brands.
Over half of the respondents (52.1%) foresee a noteworthy shift within the next 12
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