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Web3 gaming still a long way from mainstream adoption

 


A new survey by blockchain firm Coda Labs shows that Web3 gaming may still have a long way to go, even though massive amounts of money are already being invested in the sector. So gamers have to warm up to Non-Funigble Tokens (NFT) first.


According to the survey, the players point to practical hurdles as the main obstacles to their rejection of Web3 so far, because they say they don't know how it works and don't have a blockchain wallet either.


According to this, only 12% of gamblers outside of the crypto industry ("non-crypto gamers") have tried Web3 games, while only 15% of those who have not yet had any contact with the new game form are interested in doing so in the future try.


The survey highlights that the term Play-to-Earn (P2E) has the highest level of awareness in the context of Web3 games and that the concept of crypto earnings is what appears to be the biggest advantage of this new way of gaming.


Together, these two insights underscore a thesis that has long been accepted in the crypto industry, namely that gamers are more interested in “playing a great game” than in the Web3 Games economic model.



Excerpt from the survey: What is keeping you from Web3 gaming? Source: Coda Labs.

Still, the survey suggests that those who have tried Web3 games have an overall positive image of them. The traditional gamblers give them an average rating of 7.1/10, while proven crypto gamblers rate them at 8.3/10.


Speaking to Cointelegraph at Asia Crypto Week, Blockchain Gaming Alliance (ABGA) President Kevin Shao suggested that the current focus on P2E and NFTs is holding back mainstream adoption of GameFi.


That's why Shao believes it takes triple-A titles like Phantom Galaxies and Big Time, which prioritize a mature gaming experience, to shift the focus of P2E Web3 gamers back to pure gaming fun and new ones to bring gamblers on board.


Conducted in June 2022, the survey was conducted among 6,921 participants from five different continents.


To be eligible for the survey, respondents had to gamble at least twice a month, have used a crypto wallet before, used a decentralized crypto exchange before, or traded NFTs in the last 30 days.


Responsible for the implementation were the data researchers from WALR, who, among other things, are members of the Market Research Society and follow their guidelines.

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