Blockchain game developers indicate that nearly 40% of individuals in the Web2 sector believe that gaming companies will become one of the leading forces in the Web3 gaming sector by 2024. According to the Industry Report published on December 12 by the Blockchain Gaming Alliance (BGA), 37.8% of the participants think that Web2 studios developing new games in the Web3 sector or integrating blockchain into existing games will contribute to the industry’s progress in 2024.
When asked to identify the biggest positive driving force for the year 2023, 19.8% of the participants mentioned the release of NFT games by Web2 game studios, while 15.2% highlighted the same studios’ transition to Web3. The majority of participants, 35%, believe that the sector will benefit most from Web2 game studios adopting Web3 technology in 2023, and they express their excitement for this trend.
Blockchain game developers believe that 2024 will be the year of adoption, and more than half of the participants are confident that a significant portion of the global gaming industry, which is worth a total of 347 billion dollars, will benefit from blockchain technology in some way within the next year.
The report, which mentions a survey conducted between August and October 2023 with 526 participants from blockchain gaming experts, states that by 2024, Web2 players will appreciate the increasing value of crypto-owned in-game assets.
According to blockchain data analysis firm DappRadar, the third quarter of 2023 saw a flow of 600 million dollars into Web3 gaming projects, and the total investments for the year exceeded 2.3 billion dollars. A report by Fortune Business Insights suggests that the global blockchain gaming market size is expected to reach 615 billion dollars by 2030, with an annual compound growth rate of 21.8% from the market size of 128 billion dollars in 2022.