Blockchain

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

The BGA Member Survey Report for 2022 has been released, providing a comprehensive overview of the blockchain gaming industry. The survey results indicate that gaming professionals in the field have a positive outlook on blockchain gaming, despite the current downturn in the cryptocurrency market.

The survey sample population included BGA members, such as game industry professionals, gaming studios, venture capitalists, cryptocurrency exchanges, guilds, service organizations, and members of the blockchain gaming community.

The BGA member survey, conducted annually, is consistent with the previous year\’s BGA survey. The majority of survey participants were young individuals, with nearly 90% expressing confidence in their continued involvement in the blockchain gaming industry in the upcoming year.

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

  • 89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
  • 36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
  • 40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

The survey observed a significant increase in the number of respondents from Asia, who made up over 55% of the total. Additionally, the majority of survey participants were in the age range of 25-34, comprising two-thirds of the total respondents. Many of these industry professionals had recently joined blockchain gaming projects, accounting for nearly 50% of the respondents.

Why is blockchain gaming beneficial?

The survey posed a common question to industry professionals, asking about the true benefit to gamers provided by blockchain gaming. Nearly 69% of respondents believed that digital asset ownership was the primary benefit, with player reward models and new revenue models coming in second and third with 35.2% and 34.3% respectively.

The survey found that older respondents tended to view digital asset ownership as the key benefit of blockchain games. It is noteworthy that 60% of the participants were associated with gaming studios or guilds. The majority of the professionals work exclusively on blockchain games, while 26% are involved in both Web2 and Web3 projects, and only 4% are traditional game developers.

\"BGA
BGA Members Survey Report 2022

DappRadar\’s take on 2022

As reported by DappRadar, video games continue to be a driving force for Web3, despite the current crypto market downturn. The statistics demonstrate this, as more than 50% of all on-chain activity is related to gaming, with 1.13 million Unique Active Wallets connecting to Gamefi on a daily basis.

On-chain gaming transactions also saw an increase of 37% YoY, reaching 7.4 billion. Furthermore, fundraising for blockchain-based gaming projects also saw a 59% increase in 2022, amounting to $7.6 billion. The statistics indicate that blockchain-based gaming projects have demonstrated resiliency throughout the year 2022.

The play-to-earn mechanics may decrease due to the crypto bear market, and this may lead to the emergence of new free-to-play Web3 games that focus on both earning and owning. Thus, 2023 is likely to be a transformative year for Web3 games.

What is stopping Web3 games’ mainstream adoption?

Despite the blockchain gaming industry\’s strong performance in 2022, mainstream adoption of Web3 games still has a long way to go. Over 51% of respondents believe that onboarding new gamers and accessibility are the biggest challenges facing the industry.

37.2% of respondents identified poor gameplay as an issue, and 28.5% believed that the main challenge lies in educating the public about the concept of blockchain. This lack of education seems to be a valid concern as it is a critical aspect for the industry\’s growth.

The majority of respondents believe that the misconception of blockchain games being scams is the biggest problem facing the industry. The percentage of people considering games as scams increased from 59% in 2021 to 69.5% in 2022.

When considering the challenges faced by organizations, the survey identified a list of challenges. The respondents ranked the top 10 challenges, with the most significant challenge for organizations being FUD (fear, uncertainty, and doubt).

FUD (fear, uncertainty, and doubt) is a term that has long been associated with the crypto industry. In addition to FUD, marketing and brand awareness were the second biggest challenge at 26.8%. Companies with fewer than 50 employees identified lack of funding as a significant concern.

What will drive the future of blockchain games?

When looking to the future, 35.7% of respondents believe that advancements in gameplay will drive the industry forward. 30.3% of respondents think that Web3 adoption by traditional gaming studios is crucial, and 26.2% believe that the involvement of major gaming franchises will be a deciding factor for mainstream adoption.

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

The BGA Member Survey Report for 2022 has been released, providing a comprehensive overview of the blockchain gaming industry. The survey results indicate that gaming professionals in the field have a positive outlook on blockchain gaming, despite the current downturn in the cryptocurrency market.

The survey sample population included BGA members, such as game industry professionals, gaming studios, venture capitalists, cryptocurrency exchanges, guilds, service organizations, and members of the blockchain gaming community.

The BGA member survey, conducted annually, is consistent with the previous year\’s BGA survey. The majority of survey participants were young individuals, with nearly 90% expressing confidence in their continued involvement in the blockchain gaming industry in the upcoming year.

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

  • 89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
  • 36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
  • 40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

The survey observed a significant increase in the number of respondents from Asia, who made up over 55% of the total. Additionally, the majority of survey participants were in the age range of 25-34, comprising two-thirds of the total respondents. Many of these industry professionals had recently joined blockchain gaming projects, accounting for nearly 50% of the respondents.

Why is blockchain gaming beneficial?

The survey posed a common question to industry professionals, asking about the true benefit to gamers provided by blockchain gaming. Nearly 69% of respondents believed that digital asset ownership was the primary benefit, with player reward models and new revenue models coming in second and third with 35.2% and 34.3% respectively.

The survey found that older respondents tended to view digital asset ownership as the key benefit of blockchain games. It is noteworthy that 60% of the participants were associated with gaming studios or guilds. The majority of the professionals work exclusively on blockchain games, while 26% are involved in both Web2 and Web3 projects, and only 4% are traditional game developers.

\"BGA
BGA Members Survey Report 2022

DappRadar\’s take on 2022

As reported by DappRadar, video games continue to be a driving force for Web3, despite the current crypto market downturn. The statistics demonstrate this, as more than 50% of all on-chain activity is related to gaming, with 1.13 million Unique Active Wallets connecting to Gamefi on a daily basis.

On-chain gaming transactions also saw an increase of 37% YoY, reaching 7.4 billion. Furthermore, fundraising for blockchain-based gaming projects also saw a 59% increase in 2022, amounting to $7.6 billion. The statistics indicate that blockchain-based gaming projects have demonstrated resiliency throughout the year 2022.

The play-to-earn mechanics may decrease due to the crypto bear market, and this may lead to the emergence of new free-to-play Web3 games that focus on both earning and owning. Thus, 2023 is likely to be a transformative year for Web3 games.

What is stopping Web3 games’ mainstream adoption?

Despite the blockchain gaming industry\’s strong performance in 2022, mainstream adoption of Web3 games still has a long way to go. Over 51% of respondents believe that onboarding new gamers and accessibility are the biggest challenges facing the industry.

37.2% of respondents identified poor gameplay as an issue, and 28.5% believed that the main challenge lies in educating the public about the concept of blockchain. This lack of education seems to be a valid concern as it is a critical aspect for the industry\’s growth.

The majority of respondents believe that the misconception of blockchain games being scams is the biggest problem facing the industry. The percentage of people considering games as scams increased from 59% in 2021 to 69.5% in 2022.

When considering the challenges faced by organizations, the survey identified a list of challenges. The respondents ranked the top 10 challenges, with the most significant challenge for organizations being FUD (fear, uncertainty, and doubt).

FUD (fear, uncertainty, and doubt) is a term that has long been associated with the crypto industry. In addition to FUD, marketing and brand awareness were the second biggest challenge at 26.8%. Companies with fewer than 50 employees identified lack of funding as a significant concern.

What will drive the future of blockchain games?

When looking to the future, 35.7% of respondents believe that advancements in gameplay will drive the industry forward. 30.3% of respondents think that Web3 adoption by traditional gaming studios is crucial, and 26.2% believe that the involvement of major gaming franchises will be a deciding factor for mainstream adoption.

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

More than 89% of gaming industry professionals will continue to work in blockchain gaming despite the \”Raging Crypto Winter,\” according to a survey report.

The BGA Member Survey Report for 2022 has been released, providing a comprehensive overview of the blockchain gaming industry. The survey results indicate that gaming professionals in the field have a positive outlook on blockchain gaming, despite the current downturn in the cryptocurrency market.

The survey sample population included BGA members, such as game industry professionals, gaming studios, venture capitalists, cryptocurrency exchanges, guilds, service organizations, and members of the blockchain gaming community.

The BGA member survey, conducted annually, is consistent with the previous year\’s BGA survey. The majority of survey participants were young individuals, with nearly 90% expressing confidence in their continued involvement in the blockchain gaming industry in the upcoming year.

The survey also delves into the factors driving the blockchain industry and identifies the challenges faced by industry professionals.

Key Takeaways

  • 89% of survey participants plan to continue working in the blockchain gaming industry in the coming year.
  • 36.5% of survey participants believe that advancements in gameplay will drive the growth of the blockchain gaming industry.
  • 40% of survey participants see lack of education and misconceptions about blockchain gaming as a major challenge facing the industry.

Key Changes in the Game Industry

The survey observed a significant increase in the number of respondents from Asia, who made up over 55% of the total. Additionally, the majority of survey participants were in the age range of 25-34, comprising two-thirds of the total respondents. Many of these industry professionals had recently joined blockchain gaming projects, accounting for nearly 50% of the respondents.

Why is blockchain gaming beneficial?

The survey posed a common question to industry professionals, asking about the true benefit to gamers provided by blockchain gaming. Nearly 69% of respondents believed that digital asset ownership was the primary benefit, with player reward models and new revenue models coming in second and third with 35.2% and 34.3% respectively.

The survey found that older respondents tended to view digital asset ownership as the key benefit of blockchain games. It is noteworthy that 60% of the participants were associated with gaming studios or guilds. The majority of the professionals work exclusively on blockchain games, while 26% are involved in both Web2 and Web3 projects, and only 4% are traditional game developers.

\"BGA
BGA Members Survey Report 2022

DappRadar\’s take on 2022

As reported by DappRadar, video games continue to be a driving force for Web3, despite the current crypto market downturn. The statistics demonstrate this, as more than 50% of all on-chain activity is related to gaming, with 1.13 million Unique Active Wallets connecting to Gamefi on a daily basis.

On-chain gaming transactions also saw an increase of 37% YoY, reaching 7.4 billion. Furthermore, fundraising for blockchain-based gaming projects also saw a 59% increase in 2022, amounting to $7.6 billion. The statistics indicate that blockchain-based gaming projects have demonstrated resiliency throughout the year 2022.

The play-to-earn mechanics may decrease due to the crypto bear market, and this may lead to the emergence of new free-to-play Web3 games that focus on both earning and owning. Thus, 2023 is likely to be a transformative year for Web3 games.

What is stopping Web3 games’ mainstream adoption?

Despite the blockchain gaming industry\’s strong performance in 2022, mainstream adoption of Web3 games still has a long way to go. Over 51% of respondents believe that onboarding new gamers and accessibility are the biggest challenges facing the industry.

37.2% of respondents identified poor gameplay as an issue, and 28.5% believed that the main challenge lies in educating the public about the concept of blockchain. This lack of education seems to be a valid concern as it is a critical aspect for the industry\’s growth.

The majority of respondents believe that the misconception of blockchain games being scams is the biggest problem facing the industry. The percentage of people considering games as scams increased from 59% in 2021 to 69.5% in 2022.

When considering the challenges faced by organizations, the survey identified a list of challenges. The respondents ranked the top 10 challenges, with the most significant challenge for organizations being FUD (fear, uncertainty, and doubt).

FUD (fear, uncertainty, and doubt) is a term that has long been associated with the crypto industry. In addition to FUD, marketing and brand awareness were the second biggest challenge at 26.8%. Companies with fewer than 50 employees identified lack of funding as a significant concern.

What will drive the future of blockchain games?

When looking to the future, 35.7% of respondents believe that advancements in gameplay will drive the industry forward. 30.3% of respondents think that Web3 adoption by traditional gaming studios is crucial, and 26.2% believe that the involvement of major gaming franchises will be a deciding factor for mainstream adoption.

Check out our beginner’s guide on How to Create your first NFT. Dont forget to subscribe to our YouTube Game Channel with lots of video game reviews.

How to Create and Sell Your First NFT? See Our Beginners\’ Guide!

NFTs, or Non-Fungible Tokens, have been around for some time and while many have heard of them, not everyone understands them. NFTs have had a rollercoaster of success, with some people becoming wealthy while others regret their involvement. Despite the industry\’s ups and downs, NFTs remain in the news due to celebrities getting involved and controversies such as scams and legal battles. Despite a recent slump in the NFT market, they are still relevant thanks to blockchain games. As a creator, artist, or musician, how can you benefit from NFTs? While it\’s easy to buy them, creating them can be a bit more challenging. In this article, we will provide a simple guide for creating NFTs.

What is an NFT? What can become an NFT?

NFTs, or Non-Fungible Tokens, are digital assets that are stored on a blockchain, making them unique and allowing for real ownership records. These tokens can be used to represent anything, even a simple selfie. NFTs can also have multiple editions, meaning a single NFT link stored on the blockchain may have two or more NFTs. In short, NFTs are unique digital assets that can represent any type of content, and are stored on a blockchain to establish ownership.

When creating NFTs, it\’s important to note that any digital file can be turned into an NFT, but there may be limitations on what types of files can be minted on certain platforms. Most NFTs fall into categories such as images, videos, audio files, or similar formats. To create an NFT (Non-fungible tokens), you must first decide what type of NFT you want to create, such as a song, artwork, or collectible. Once you have chosen your content, you will also need to have some cryptocurrency in your digital wallet to pay for the transaction fee to mint it on the platform.

NFT Minting and Blockchain

Once you have decided on the type of NFT you want to create, it\’s important to research the different platforms and blockchains available. The Ethereum blockchain is currently the most popular for NFTs, and is used by many creators because it uses a proof of stake consensus system. However, it does have high transaction fees for minting, transferring, selling, and buying NFTs. Other popular blockchains for NFTs include Solana and Flow. The NBA Top Shot NFT collection, along with other sports franchises, uses the Flow blockchain.

NFT Platforms

After selecting the blockchain you want to use, it\’s time to choose a platform to create and mint your NFT (Non-fungible tokens). There are many options available, each with their own unique features. Some popular platforms with a high number of transactions and activities include OpenSea, Solanart, Rarible, and Binance. OpenSea and Rarible use the Ethereum blockchain and do not charge any fees to create NFTs.

Creating NFTs on platforms like OpenSea and Rarible is known as a \”lazy minting\” system, which allows you to avoid paying the transaction fee for minting on the blockchain. However, when a buyer purchases your NFT, you will have to pay the transaction fee for minting it on the blockchain and the transfer fee. Additionally, OpenSea charges an account initialization fee, which is a one-time cost, but Rarible does not have an initial fee but does charge a fee for removing your NFT from their marketplace if you decide not to sell it anymore.

\"NFTs,
NFTS

Buy a Digital Wallet

To create and list your first NFT, you will need a digital wallet. These applications allow you to store your cryptocurrency and any NFTs you create, purchase, or acquire. It\’s important to make sure that the digital wallet you choose is compatible with the blockchain you have selected.

MetaMask is a well-known digital wallet that is compatible with the Ethereum blockchain and works well with platforms such as OpenSea, Foundation, and others. Other digital wallets such as Coinbase have broader functionality and work with blockchains other than Ethereum. When creating a digital wallet, it\’s important to keep track of the 12-word seed phrase which acts as a secret passphrase. This seed phrase is used to restore, retrieve, or regain access to your account. Therefore, it is important to keep your password and seed phrase safe.

Create Your NFT

To create your NFT, connect your digital wallet to the platform of your choice, such as OpenSea. Once connected, you will have access to options for creating NFTs, including an upload section, properties, and more. Fill in the details of your NFT, such as its name, a catchy description, and any discount codes or Discord invites. Be sure to select the blockchain you want to use for minting and remember that this cannot be changed later. Finally, click the \”create\” button and your first NFT will be created. Once you list your NFT for sale, its metadata will be permanently stored on the blockchain.

You can also check out our recent game review on Legends of Elumia Beta. If you are more into game reviews, then do visit our YouTube channel for more.

How to Create and Sell Your First NFT? See Our Beginners\’ Guide!

NFTs, or Non-Fungible Tokens, have been around for some time and while many have heard of them, not everyone understands them. NFTs have had a rollercoaster of success, with some people becoming wealthy while others regret their involvement. Despite the industry\’s ups and downs, NFTs remain in the news due to celebrities getting involved and controversies such as scams and legal battles. Despite a recent slump in the NFT market, they are still relevant thanks to blockchain games. As a creator, artist, or musician, how can you benefit from NFTs? While it\’s easy to buy them, creating them can be a bit more challenging. In this article, we will provide a simple guide for creating NFTs.

What is an NFT? What can become an NFT?

NFTs, or Non-Fungible Tokens, are digital assets that are stored on a blockchain, making them unique and allowing for real ownership records. These tokens can be used to represent anything, even a simple selfie. NFTs can also have multiple editions, meaning a single NFT link stored on the blockchain may have two or more NFTs. In short, NFTs are unique digital assets that can represent any type of content, and are stored on a blockchain to establish ownership.

When creating NFTs, it\’s important to note that any digital file can be turned into an NFT, but there may be limitations on what types of files can be minted on certain platforms. Most NFTs fall into categories such as images, videos, audio files, or similar formats. To create an NFT (Non-fungible tokens), you must first decide what type of NFT you want to create, such as a song, artwork, or collectible. Once you have chosen your content, you will also need to have some cryptocurrency in your digital wallet to pay for the transaction fee to mint it on the platform.

NFT Minting and Blockchain

Once you have decided on the type of NFT you want to create, it\’s important to research the different platforms and blockchains available. The Ethereum blockchain is currently the most popular for NFTs, and is used by many creators because it uses a proof of stake consensus system. However, it does have high transaction fees for minting, transferring, selling, and buying NFTs. Other popular blockchains for NFTs include Solana and Flow. The NBA Top Shot NFT collection, along with other sports franchises, uses the Flow blockchain.

NFT Platforms

After selecting the blockchain you want to use, it\’s time to choose a platform to create and mint your NFT (Non-fungible tokens). There are many options available, each with their own unique features. Some popular platforms with a high number of transactions and activities include OpenSea, Solanart, Rarible, and Binance. OpenSea and Rarible use the Ethereum blockchain and do not charge any fees to create NFTs.

Creating NFTs on platforms like OpenSea and Rarible is known as a \”lazy minting\” system, which allows you to avoid paying the transaction fee for minting on the blockchain. However, when a buyer purchases your NFT, you will have to pay the transaction fee for minting it on the blockchain and the transfer fee. Additionally, OpenSea charges an account initialization fee, which is a one-time cost, but Rarible does not have an initial fee but does charge a fee for removing your NFT from their marketplace if you decide not to sell it anymore.

\"NFTs,
NFTS

Buy a Digital Wallet

To create and list your first NFT, you will need a digital wallet. These applications allow you to store your cryptocurrency and any NFTs you create, purchase, or acquire. It\’s important to make sure that the digital wallet you choose is compatible with the blockchain you have selected.

MetaMask is a well-known digital wallet that is compatible with the Ethereum blockchain and works well with platforms such as OpenSea, Foundation, and others. Other digital wallets such as Coinbase have broader functionality and work with blockchains other than Ethereum. When creating a digital wallet, it\’s important to keep track of the 12-word seed phrase which acts as a secret passphrase. This seed phrase is used to restore, retrieve, or regain access to your account. Therefore, it is important to keep your password and seed phrase safe.

Create Your NFT

To create your NFT, connect your digital wallet to the platform of your choice, such as OpenSea. Once connected, you will have access to options for creating NFTs, including an upload section, properties, and more. Fill in the details of your NFT, such as its name, a catchy description, and any discount codes or Discord invites. Be sure to select the blockchain you want to use for minting and remember that this cannot be changed later. Finally, click the \”create\” button and your first NFT will be created. Once you list your NFT for sale, its metadata will be permanently stored on the blockchain.

You can also check out our recent game review on Legends of Elumia Beta. If you are more into game reviews, then do visit our YouTube channel for more.

How to Create and Sell Your First NFT? See Our Beginners\’ Guide!

NFTs, or Non-Fungible Tokens, have been around for some time and while many have heard of them, not everyone understands them. NFTs have had a rollercoaster of success, with some people becoming wealthy while others regret their involvement. Despite the industry\’s ups and downs, NFTs remain in the news due to celebrities getting involved and controversies such as scams and legal battles. Despite a recent slump in the NFT market, they are still relevant thanks to blockchain games. As a creator, artist, or musician, how can you benefit from NFTs? While it\’s easy to buy them, creating them can be a bit more challenging. In this article, we will provide a simple guide for creating NFTs.

What is an NFT? What can become an NFT?

NFTs, or Non-Fungible Tokens, are digital assets that are stored on a blockchain, making them unique and allowing for real ownership records. These tokens can be used to represent anything, even a simple selfie. NFTs can also have multiple editions, meaning a single NFT link stored on the blockchain may have two or more NFTs. In short, NFTs are unique digital assets that can represent any type of content, and are stored on a blockchain to establish ownership.

When creating NFTs, it\’s important to note that any digital file can be turned into an NFT, but there may be limitations on what types of files can be minted on certain platforms. Most NFTs fall into categories such as images, videos, audio files, or similar formats. To create an NFT (Non-fungible tokens), you must first decide what type of NFT you want to create, such as a song, artwork, or collectible. Once you have chosen your content, you will also need to have some cryptocurrency in your digital wallet to pay for the transaction fee to mint it on the platform.

NFT Minting and Blockchain

Once you have decided on the type of NFT you want to create, it\’s important to research the different platforms and blockchains available. The Ethereum blockchain is currently the most popular for NFTs, and is used by many creators because it uses a proof of stake consensus system. However, it does have high transaction fees for minting, transferring, selling, and buying NFTs. Other popular blockchains for NFTs include Solana and Flow. The NBA Top Shot NFT collection, along with other sports franchises, uses the Flow blockchain.

NFT Platforms

After selecting the blockchain you want to use, it\’s time to choose a platform to create and mint your NFT (Non-fungible tokens). There are many options available, each with their own unique features. Some popular platforms with a high number of transactions and activities include OpenSea, Solanart, Rarible, and Binance. OpenSea and Rarible use the Ethereum blockchain and do not charge any fees to create NFTs.

Creating NFTs on platforms like OpenSea and Rarible is known as a \”lazy minting\” system, which allows you to avoid paying the transaction fee for minting on the blockchain. However, when a buyer purchases your NFT, you will have to pay the transaction fee for minting it on the blockchain and the transfer fee. Additionally, OpenSea charges an account initialization fee, which is a one-time cost, but Rarible does not have an initial fee but does charge a fee for removing your NFT from their marketplace if you decide not to sell it anymore.

\"NFTs,
NFTS

Buy a Digital Wallet

To create and list your first NFT, you will need a digital wallet. These applications allow you to store your cryptocurrency and any NFTs you create, purchase, or acquire. It\’s important to make sure that the digital wallet you choose is compatible with the blockchain you have selected.

MetaMask is a well-known digital wallet that is compatible with the Ethereum blockchain and works well with platforms such as OpenSea, Foundation, and others. Other digital wallets such as Coinbase have broader functionality and work with blockchains other than Ethereum. When creating a digital wallet, it\’s important to keep track of the 12-word seed phrase which acts as a secret passphrase. This seed phrase is used to restore, retrieve, or regain access to your account. Therefore, it is important to keep your password and seed phrase safe.

Create Your NFT

To create your NFT, connect your digital wallet to the platform of your choice, such as OpenSea. Once connected, you will have access to options for creating NFTs, including an upload section, properties, and more. Fill in the details of your NFT, such as its name, a catchy description, and any discount codes or Discord invites. Be sure to select the blockchain you want to use for minting and remember that this cannot be changed later. Finally, click the \”create\” button and your first NFT will be created. Once you list your NFT for sale, its metadata will be permanently stored on the blockchain.

You can also check out our recent game review on Legends of Elumia Beta. If you are more into game reviews, then do visit our YouTube channel for more.

The Use of Artificial Intelligence in Web3 Gaming and its Potential Benefits

Blockchain, Web3 game developers and Artificial Intelligence (AI)? Here is why!

As Artificial Intelligence continues to progress at a rapid rate, it is being utilized in various industries around the world. Its applications range from enhancing artistry, driving growth in renewable energy, creating blogs, composing music and poetry, and even in gaming. Industries that have not yet adopted Artificial Intelligence are gradually beginning to explore it. Blockchain gaming is no exception, with developers and senior executives currently testing the use of AI in the field. While AI poses certain challenges in generating game storylines, new innovations in the technology are poised to greatly improve the blockchain gaming experience, particularly in areas such as game art and narration.

AI in Blockchain Gaming

Blockchain gaming, also known as Web3 games, have been around for some time and experienced a significant surge in popularity in 2021. The incorporation of smart contracts and other Web3 elements in games has led to a new business model that aims to provide benefits for players. This model, which can take the form of \”play to earn,\” \”play and earn,\” or \”play and own,\” aims to give back to gamers. However, in 2022 the Web3 gaming sector saw a decline, but eventually rebounded by the end of the year. Many blockchain games experienced fluctuations in user engagement, player numbers, and transactions. Despite the highly volatile conditions, the sector has persevered and the future looks promising. Additionally, the incorporation of AI in Web3 games is likely to become increasingly common in the near future.

\"Artificial
AI

Alex Connelly, the chief technology officer at Immutable, is a blockchain gaming executive who believes that AI will create new possibilities for Web3 games. Immutable is a major player in the blockchain gaming industry, being the developer behind the popular blockchain trading card game Gods Unchained and the Immutable X platform. Connelly advocates for the use of OpenAI, an American research laboratory focused on AI, to develop AI applications that can aid in various tasks. He believes that by utilizing AI, game developers can focus on creating original works and produce better art, powerful narration, and challenging opponents for an immersive and enriched experience for gamers in blockchain games.

How can AI help game developers and artists via art?

Alex Connelly stated that they are researching the use of AI in creating game art at Immutable, which will save time for video game artists by automating repetitive tasks. Specifically, many video game artists spend a significant amount of time creating multiple versions of the same image in various sizes and formats, which could be handled by AI software, thereby allowing artists and developers more time to focus on creating new and original content.

Player Skill Level and the Use of AI

Beyond its potential in game art, AI can also significantly enhance the player experience by adapting to the player\’s skill level. The AI will be able to dynamically adjust itself to the player\’s abilities, providing a challenging but enjoyable level of difficulty. By tailoring the difficulty level to each individual player, AI can create a more balanced and enjoyable learning experience for players, making games more fun and less overwhelming.

\”Finding that sweet spot where the game is challenging but not overwhelming is crucial for keeping players engaged,\” says Connelly. \”AI can help with that by customizing the difficulty level to each individual player, that\’s an amazing application of this technology,\” he added.

ChatGPT in Blockchain Games

Chat Generative Pre-trained Transformer (ChatGPT) is a well-known AI tool that has been used in the creation of trading bots, automating the writing of repetitive blog posts, and even composing new songs. Will this tool be used in blockchain gaming as well? Alex Connelly and his team at Immutable are currently considering the potential use of ChatGPT, particularly in AI narration. However, they have encountered some challenges while using AI for storytelling and narration in trading card games, as the AI generated spam content and did not contribute much to the gameplay.

\”However, when it comes to actually playing the game, the AI-generated content can be confusing or not align with players\’ expectations,\” Connelly notes. \”We\’re still trying to figure out the right balance between using AI to improve the game experience, while also avoiding the generation of irrelevant or unwanted content,\” he added.

It will be intriguing to see how and in what capacity blockchain game developers will incorporate AI into their games. Do check out our report on blockchain games surpassing Defi in Unique Active Wallets. You can also tune in to our YouTube channel to check out game reviews.

Gamefi and Blockchain Games Surpass Defi in Unique Active Wallets and Continue to Lead in 2023

It is true that the blockchain and the crypto industry as a whole suffered a lot in 2022. When compared year on year, the figures dropped dramatically. But Gamefi is one part of blockchain technology that continues to get investment, traction, and a big jump in the number of unique wallets that are active. The upward trajectory for the blockchain gaming sector was witnessed in Q4 of 2022. Also, it stays the same in the first month of 2023, but the question is whether or not the hype and traction keep going in this direction. On the other hand, we think that Defi applications and projects will take a big hit and keep getting worse until 2023.

By the beginning of 2023, the blockchain gaming industry will have more than twice as many unique active wallets as Defi. 

Blockchain Games Leading the Way

Blockchain gaming is a new area where people get paid for the time they spend playing video games. The rewards have a value in the real world and can\’t be used, so they can be traded for money. So, the main difference between traditional gaming and blockchain gaming lies in the model of business. In developing countries, particularly in Southeast Asia, the blockchain gaming industry has grown rapidly. It is the business model of \”play to earn\” or \”play and own\” that stands out. This is a big part of why these games still do well even though the Defi industry is still having trouble.

Also, some of the best minds and developers in the industry continue to work together to make AAA blockchain games. The introduction of AAA games, along with strong collaborations between artists, influential figures, and game developers, will result in mass adoption. There is a lot of activity going on in blockchain gaming when we look at the number of unique active wallets. However, Defi failed to bounce back after some of the unfortunate incidents that happened last year.

Defi Domain Struggles to Bounce Back

The year 2022 was filled with ups and downs. The war in Ukraine, the Terra Luna Crash, the Ethereum Merge, and then the FTX Crash were all big events that had a big impact on the crypto and blockchain industries. There were many Defi apps that had to head toward the exit. The blockchain gaming industry, on the other hand, aided decentralized apps in gaining some positives. 

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DappRadar

If we analyze the events of 2022, the decentralized space saw a gradual decline. The Terra Luna event impacted the space heavily, and the rest was done by the FTX collapse. The total value locked in Defi dropped dramatically. At the start of 2022, the TVL was almost $150 billion, which took a nosedive after the events and stood at almost $40 billion. The Terra Luna Crash saw Defi, as well as UAWs, decrease considerably. But UAWs improved at the end of the year, while Defi continued to suffer.

As early as January 2022, careful speculation was made by DappRadar’s executive about Defi apps. The executive told BeInCrypto that as many as 80% of Defi apps could exit the industry if the bear trend continues throughout the year, which it did.

Blockchain Games and Rising UAWs

Blockchain games sure did see a bit of a decline after the Terra Luna crash, but they didn’t deviate much from their trend. It still accounts for an average of 1.15 million daily UAW, showing a lot of activity in the blockchain gaming space.

Dapp Radar’s Pedro Herrera said, \”While [decentralized finance] and overall blockchain activity have been on the downside, the game of Unique Active Wallets (UAW) continues to rise, reaching almost 1 million daily wallets.\”

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Delphi Digital

When we compare the number of unique active wallets between Gamefi and Defi, gaming has more than twice as many as Defi. At the end of 2022, Defi had approximately 2.0 million UAWs, while Gaming had 5.0 million. Some of the top blockchain games that attracted new wallets in 2022 are: Splinterlands, which topped the chart with over 300,000 UAW over a week; Alien Worlds; Benji Bananas; Farmers World; Planet IX; Upland; and more.

If you want to read the key points of DappRadar, here we go:

Key takeaways DappRadar

  • The dapp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022, rising from an average of 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average. However, the industry has been on a downward trend due to various events, including the war in Ukraine, the collapse of Terra Luna and the FTX situation. Despite these challenges, the dapp industry has demonstrated its resilience and maturity, while adoption of blockchain technology by consumers and businesses suggests that the future of the industry is bright.
  • In 2022, the DeFi industry faced challenges including the collapse of the Terra Luna platform and a decline in cryptocurrency prices, leading to a significant drop in the Total Value Locked (TVL) of 73.97% falling to $55 billion in December. Amidst these difficulties, the DeFi sector continued to expand and innovate, with smart contract financial apps and traditional financial institutions piloting or transacting using DeFi protocols.
  • Ethereum remains the dominant DeFi protocol with $32.12 billion in TVL, a 74.56% reduction. BNB Chain has reclaimed its position as the second-largest DeFi ecosystem, with a 62.50% decrease, reaching $6.5 billion. Layer-2 solutions appeared to be the least affected by the crypto turbulence, with Arbitrum falling 12.07% to $1.74 billion. Optimism’s TVL increased by 127.60%, hitting $669 million.
  • On-chain metrics for the NFT market this year seemed to be positive, as the NFT trading volume in 2022 increased by just 0.41% in comparison with 2021, with an average ETH price of $2,015. Looking further, the number of unique traders count increased by 876.89% compared to the previous year, reaching 10.6 million. The sales count is on the same upward trend, with an overall of 10.16% increase this year, reaching 68.35 million.
  • The NFT blue-chip collections have remained the most traded collections this year, and continue focusing on their roadmap. Azuki became the first NFT brand to appear on an F1 racing car. VeeFriends closed a $50 million seed round in July, while PROOF’s Moonbirds raised another $50 million in August to scale the brand further.
  • Yuga Labs continued to expand, acquiring CryptoPunks, Meebits and the NFT startup WENEW Labs. Its NFT collections dominated the NFT market cap in Q4, representing 55% of the top 100 most valuable NFT collections, which amount to $15 billion.
  • This year saw the entry of new participants into the NFT marketplaces industry. X2Y2 climbed the charts, becoming in a year one of the top 10 NFT marketplace by trading volume, making more than $1.5 billion in trading volume. On the same trend, Blur, which was launched in October, reached in two months the last place in the top 10 NFT Marketplaces by trading volume, in 2022, with more than $205 million in trading volume. However, Opensea has not lost its dominance and, even if sales volumes have dropped in the past month, still accounted for 73.1% of the whole NFT organic trading volume. 
  • Blockchain games in 2022 account for 49% of all dapp activity, with on average 1.15 million daily unique active wallets, and 7.4 billion in transactions count. Splinterlands remains the most popular game with 217,914 monthly unique active wallets in 2022, an 85.78% growth. Alien Worlds was second with 178,118 monthly unique active wallets, down 3.67%. 
  • In 2022, there were 312 crypto attacks, resulting in losses of $48.74 billion, the highest for any year. The Terra Luna scandal was the most significant of these attacks, causing losses of $40 billion. Excluding this event, the median loss per hack was $283k and total losses per month were $728 million. Centralized platforms were the most commonly targeted, with losses totaling $44.71 billion. The BNB and ETH chains were the most hacked, with rug pulls being the most common type of attack.
  • In 2022, there were significant developments in the regulatory landscape for cryptocurrencies and other digital assets, with the introduction of the first White House bill for crypto regulations and the MiCA regulation in Europe. These rules and laws aimed to establish a comprehensive framework for the regulation of cryptocurrencies and other digital assets, and demonstrated a recognition of the growing importance of blockchain technology

However, the question remains if this trend will continue this year for blockchain games. With the number of AAA games under development and some launching this year, the trend may as well continue to ride the bull. Keep visiting us for more on blockchain gaming news, and check out game reviews on our YouTube. One of the most promising MMORPG AAA blockchain games under works is Mirandus.

Blockchain Gaming Predictions 2023, Upcoming AAA Blockchain Games

Predicting the future can be challenging, especially after the events of the past year. However, we believe that the blockchain gaming industry will see significant changes in 2023. By closely monitoring investment trends and the influx of skilled resources into the Web 3.0 domain, we can make informed predictions about the future of blockchain gaming. In this article, we\’ll share our thoughts on the direction the industry is headed and highlight some of the AAA blockchain gaming projects worth keeping an eye on in 2023. We hope this information will be useful for our gaming community as we move forward into the new year.

The Metaverse and What to Expect in 2023

The concept of the metaverse is still in its early stages and will take time to fully develop. It has been explored in detail in science fiction literature and we expect to see the beginnings of its creation in 2023. This includes the launch of 10G cable networks and the ability for real-time interactions. Many industries will come together to create a more interconnected internet, leading to interoperability, the necessary tools, and the reuse of digital assets. While it will take time for the metaverse to fully materialize, we can expect to see the foundations being laid in 2023.

While the full realization of the metaverse may still be a ways off, you can expect to see elements of it in games like Roblox, Fortnite, PUBG, Minecraft, and Dreams. In addition, the launch of the Meta Quest 3 VR headset in 2023 will bring us one step closer to experiencing a fully immersive metaverse. It\’s likely that various companies will begin developing their own unique metaverses, and we may even see partnerships forming between different companies to create interoperable standards. So, while we may not have a fully realized metaverse just yet, we can expect to see significant progress in the coming year.

Blockchain gaming will bounce back strongly in 2023

Currently, there are only a few fully-released blockchain games that can be considered true AAA titles. Additionally, the reputation of Web 3.0 games has suffered due to scams, rug pulls, uninteresting gameplay, and faulty tokenomics. However, we believe that this is about to change in a significant way. Keep an eye out for new developments in the blockchain gaming industry as we move into 2023.

According to data on venture funding, over half of all funding in Q3 2022 went to veteran game developers with ambitions to create AAA games. These experienced teams are working on as-yet-unreleased blockchain gaming titles that are sure to make a splash in 2023. In addition, the release of new AAA games in Q3 and Q4 of 2023 is expected to change the perception of Web 3.0 gaming. Many industry experts believe that these high-quality games will revitalize the entire Web 3.0 gaming industry. South Korea, in particular, is a region to watch as major gaming companies invest heavily in the Web 3.0 gaming space.

Several top companies in the blockchain gaming industry, with strong teams and substantial funding, are leading the way in 2023. These include Animoca Brands, Sky Mavis, Mythical Games, Sorare, Immutable, Dapper Labs, Gala Games, Lucid Sight, and Double Jump Tokyo. While the \”crypto winter\” had a negative impact on many businesses, it also weed out weaker companies and unviable projects, leaving room for stronger players to emerge.

Upcoming Blockchain Games to Watch in 2023 

While there are many blockchain games in development, many AAA titles have not yet shared much information. However, we have identified some upcoming games that are worth keeping an eye on. These titles are expected to deliver high-quality gameplay and a satisfying experience for players.

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Dissolution

Illuvium Game Series: Illuvium is a series of three games featuring stunning graphics and an open-world fantasy RPG experience. It aspires to be a true AAA game and has drawn inspiration from Pokemon. You can read a beta review of Illuvium Overworld. Keep an eye out for this promising title as it develops. 

If you\’re interested in keeping up with the latest and greatest in the world of blockchain gaming, be sure to check out these upcoming titles in 2023: Guild of Guardians, Big Time, Synergy Land, Phantom Galaxies, Champions Ascension, Medieval Empire Ertugrul, Angelic, Champions Arena, Dissolution, Mirandus, The Walking Dead Empires, Mob Land, and many others. 

Keep visiting our website to check game reviews and game news on these upcoming AAA blockchain games. We do regular blockchain game reviews so you can pick and choose without any haste. Meanwhile, check out our articles on the Immutable X Web 3.0 platform and how well it is performing, PUBG will see NFT integration soon as Banger Games announces the Alpha Test, The Arc8 Blockchain Mobile Gaming Platform performs exceptionally well in 2022; why is that?

Gaming will Drive Mass Crypto and Blockchain Adoption in 2023: A Report

In 2022, the Web 3.0 and related domains faced numerous challenges, along with the entire cryptocurrency industry. The year saw unexpected events such as the fall of stablecoin Terra Luna, the FTX debacle, the failure of Axie Infinity, and the arrest and investigation of Sam Bankman-Fried. Despite these challenges, a recent report and focus group discussion from Forkast indicates that industry experts are optimistic about the potential of blockchain technology. They believe that gaming will drive mass adoption of cryptocurrencies and shared their thoughts on the trends and developments in the blockchain industry for 2023.

Key Takeaways Report

According to a recent report from Forkast, traditional companies adopting Web3 technology and the role of gaming in driving the mass adoption of blockchain technology will be key factors in the future growth and success of the cryptocurrency industry. The report also talks about how non-fungible tokens (NFTs) will still be important and have room to grow in the coming year. These ideas from experts in the field tell us a lot about where the blockchain industry is going and what it can do in the coming year.

Gaming is the catalyst that will drive the mass adoption of cryptocurrency

Animoca Brands, a leading investor in the blockchain gaming industry, believes that gaming will be the driving force behind the adoption of blockchain technology and cryptocurrencies. According to Animoca Brands\’ founder and CEO Yat Siu, high-quality blockchain games will attract a large number of gamers to the industry, providing an opportunity to earn cryptocurrency while playing. These AAA games are expected to be released gradually in the coming year, with many launching in 2024, bringing a surge of new users to the blockchain gaming space.

Animoca Brands CEO Yat Siu believes that Asian gamers will be the first to embrace blockchain games, with the rest of the world following suit eventually. Siu notes that North American gamers are the most hesitant when it comes to adopting cryptocurrency and blockchain games. As a leading investor in the blockchain gaming industry, Animoca Brands is well-positioned to take advantage of this trend and help drive the adoption of these technologies in the gaming industry.

The potential for growth in the blockchain gaming industry is massive, thanks in part to the fact that gamers are already familiar with online transactions and their inner workings. In addition, the rapid growth of metaverse applications is expected to continue in 2023, according to Alien World CEO McKenna. Furthermore, the head economist at Consensys also believes that gaming will be at the forefront of innovation in the industry. These factors, combined with the trend of increasing adoption of blockchain technology in the gaming industry, suggest a bright future for this sector.

DAO Feature will Further Establish itself in Blockchain Games

DAO, or decentralized autonomous organization, is a key feature of Gamefi that allows gamers to take control and decentralize power from developers. This feature is expected to be a major trend in the gaming industry in 2023. As an example, Alien Worlds\’ DAO allows players to hold elections for the governance of a virtual planet, with winning players becoming part of the governing council and able to oversee treasury and expenditure funds and make important decisions. This type of DAO activity helps to strengthen and engage the gaming community.

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Alien Worlds DAO

In 2023, it is possible that we will see the emergence of new models of governance and DAO designed for collective financial management. These models have the potential to increase transparency in the cryptocurrency and blockchain gaming industries. Additionally, the DAO model provides companies with an opportunity to improve accountability and transparency by experimenting with this system. Overall, the adoption of DAO and similar models of governance may lead to significant improvements in the way that financial management is conducted in the blockchain industry.

NFTs will continue to gain ground in 2023

According to Cryptoslams\’ Wasinger, artists and creators can expect to see traditional royalty models become a thing of the past in 2023, as new and advanced revenue models become mainstream. This shift is expected to be particularly pronounced for \”non-art digital assets,\” which will see increased tokenization as non-fungible tokens (NFTs) rather than their fungible counterparts. This trend will provide artists and creators with greater control and flexibility in terms of how they monetize their digital assets.

ccording to Corite\’s Onufriychuck, we can expect to see more mainstream names from various industries joining the NFT movement in the coming years. For example, major social media platforms and AAA game studios are already experimenting with the use of NFTs. This trend is likely to continue and expand as the potential benefits of NFTs become more widely recognized and adopted.

According to industry experts, tokens will evolve in a similar way to how the internet progressed from flat websites to interactive cloud software. In the future, tokens are expected to become more advanced, \”interactive, customized, and intelligent digital on-chain agents.\” As artificial intelligence becomes more powerful, we may see meaningful interactions between AI and the metaverse. The combination of these evolving technologies has the potential to bring significant change and promise to the industry.

Check out our game review on Sorare and see how this game is unique and one of a kind in the world of blockchain gaming. Also, subscribe to our YouTube Game Channel!