Dive into the Blockchain Game Alliance's comprehensive 2023 report, revealing key insights from professionals, emerging trends, regional developments, and more.
Eliza Crichton-Stuart
Head of Operations
The Blockchain Game Alliance (BGA) recently released its highly-anticipated 2023 Industry Report, shedding light on the trajectory of the blockchain gaming sector. Partnering for the third consecutive year with consulting firm Emfarsis, the survey presents a longitudinal view, comparing current insights with past years to offer a comprehensive overview.
The survey aimed to gauge the perspectives of BGA members and experts in blockchain gaming on the factors, obstacles, and prospects influencing the sector in 2023. Comparing this year's findings with past data offers a continuous perspective on the trajectory of blockchain gaming. Such data is indispensable for stakeholders including industry professionals, investors, media personnel, scholars, educators, policymakers, regulatory bodies, and governmental authorities.
This deep dive provides an in-depth analysis of the report shedding light on the industry's present state. Including its vitality, growth prospects, emerging patterns, and possible risk zones.
Regional Insights and Trends
Europe led the regional representation with 38.8% of respondents, followed closely by Asia at 29.1%. Noteworthy is the emerging influence of the Middle East and North Africa (MENA) region, representing 5.0% of respondents, attributed to regulatory clarity and significant investments in web3 initiatives.
The MENA region emerged as a strategic player in 2023, attracting significant investments due to regulatory clarity in places like Dubai and the UAE. Dubai's $4 billion commitment to metaverse development and Saudi Arabia's $50 million investment into Animoca Brands position MENA as an attractive hub for web3 services.
Conversely, Oceania's representation was minimal at 1.7%, despite being a significant player in the blockchain gaming scene. The disproportionate representation from Europe and Asia can be linked to prominent industry events like Gamescom Cologne and the Tokyo Game Show, where the BGA maintained a strong presence.
Roles, Experience, and Diversity
The 2023 report highlighted a diverse array of respondents, with 43.5% affiliated with gaming studios, and 70.7% occupying senior positions, underscoring the industry's expertise and leadership depth. A notable 29.3% fell under the "Other Contributors" category, emphasizing the industry's multifaceted nature, encompassing freelancers, content creators, esports players, and more.
However, concerning trends in diversity, the survey revealed a declining representation of women over the past three years, signaling a pressing need for increased gender inclusivity and representation in the blockchain gaming realm.
With over half of the respondents having experience spanning one to three years, insights from both bullish and bearish market phases were prevalent. Notable trends included the transition from web2 to web3 gaming, the growing influence of AI, and advancements in 'Web3 Growth Tech'.
The survey boasts responses from over 320 companies, showcasing the industry's diverse network. Notable contributors include The Sandbox, Yield Guild Games (YGG), Upland, Star Atlas, DappRadar, Game7, Polygon, Binance, Square Enix, Google Cloud, Amazon Web Services (AWS), Georgia State University, and more. These entities contribute to the industry's diverse and dynamic ecosystem.
The BGA's 2023 Industry Report serves as a pivotal resource for stakeholders, offering invaluable insights into the blockchain gaming industry's current landscape, emerging trends, and future prospects. As the sector continues to evolve, ongoing research and collaboration will be essential to drive innovation, inclusivity, and sustainable growth.
updated:
January 11th 2024
posted:
January 11th 2024