BGA releases its 2024 state of the industry report

For the fourth consecutive year, the Blockchain Game Alliance has released its annual State of the Industry Report. Based on an industry-wide survey, it offers a snapshot of how the industry has evolved over 2024 and what to predict in 2025.

An overwhelming majority (71%) of blockchain companies continue to see asset ownership as the primary benefit of blockchain technology in gaming. 

Whether called play-to-earn, play-and-earn, or – as was the new buzz in early 2024 – play-to-airdrop, the ability to offer rewards to players also remains an important benefit.

As for industry pain points, 54% of respondents still consider onboarding and user experience to be the main hurdle. This figure has decreased significantly however, down from 80% in 2023, indicating the industry’s improvements in this area.

As in previous years, the report was conducted, analyzed, and compiled by web3 advisory firm Emfarsis. It received 623 valid responses, which is an 18% increase since 2023, and three times that of 2021.

Notably, more than half of all respondents, the highest ever, said their professional expertise is in gaming. Conversely, respondents stating their profession is in blockchain or cryptocurrency was down to just 11% in 2024, compared to 22% in 2023, and 27% in 2021.

Looking ahead to 2025, the report also outlines some key predictions. Among them are consolidation or merging of blockchains and networks. This would be a logical consequence considering the amount of infrastructure including L2s and L3s that’s been built over the last year.

Other predictions are hidden web3 technology operating in the background, the growing impact of AI contributing to more personalized experiences, enhanced interoperability, and web3 esports.