The Blockchain Game Alliance (BGA) has released a new report indicating that play-to-earn games are gaining traction towards mainstream acceptance, although they still face several challenges. The report, titled the State of the Industry, surveyed nearly 700 participants from the play-to-earn sector, showing a significant increase from the previous year. According to the 64-page report, blockchain-based games are on the verge of reaching mainstream adoption levels, with a record number of active monthly users in the industry.
One of the key factors contributing to the success of play-to-earn games is the focus on improving user experience. The report highlights a decrease in onboarding friction rates, making it easier for users to get started with these games. In the past, play-to-earn games required technical expertise to interact with complex Web3 protocols. However, gaming companies have made significant investments in improving the user interface to provide a seamless experience similar to traditional games.
The principle of player empowerment has been at the core of the industry’s growth, with a focus on enhancing user experience and user interface. BGA President Sebastian Borget predicts that this trend will continue into 2025, with more ecosystem players investing in UX and UI improvements. Additionally, traditional game publishers like Sony and Square Enix are entering the play-to-earn gaming sector, introducing a new audience to blockchain-based gaming through layer 2 blockchain solutions.
The allure of play-to-earn gaming lies in the prospects of in-game asset ownership and the potential for rewards and revenue. Despite the impressive adoption figures, the industry still faces challenges such as onboarding difficulties, clunky user experience, and the presence of bots. Many game developers struggle to onboard new players due to misconceptions about Ponzi schemes and fraudulent activities in the industry.
In Japan, a group of video game publishers including Sega, Square Enix, and Konami, has joined forces to advance play-to-earn games in the country. This new alliance, under the Japan Cryptocurrency Business Association (JCBA), aims to develop a thriving play-to-earn industry in Japan. The alliance has received support from leading law firms to address legal and regulatory issues related to Web3 gaming.
The alliance is expected to focus on integrating non-fungible tokens (NFTs) in gaming and exploring blockchain solutions for game publishers. Members of the subcommittee bring a wealth of experience in play-to-earn gaming, with Sega and Square Enix having previous experience in Web3 gaming. Despite some challenges and setbacks, the global interest in Web3 gaming is growing, driven by improved user interfaces and the potential for revenue for players.
Overall, the play-to-earn gaming industry is poised for continued growth and innovation, with collaborations between traditional game publishers and blockchain-focused companies paving the way for a more mainstream acceptance of these games.
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