LONDON, UK – DECEMBER 20, 2022 – The majority of game developers believe web3 has a considerable role to play in the future of gaming. This is the finding of an international survey of game developers conducted by Coda Labs, a mobile gaming company that creates fun games based on web3 technology, and Raptor PR, a B2B communications agency for web3 games, video games and media brands.
The survey revealed that three-quarters of respondents expect web3 to play an important role in their future strategies, while more than half (56%) believe it will revolutionize the video game industry.
However, a sizable minority disagrees. Nearly a third (32%) say web3 games are a fad and will not last long, and 31% call them a scam. This data is based on the findings of the Coda Labs Global Web3 Gamer Study, the largest web3 survey to date, which gathers the opinions of nearly 7,000 gamers across all platforms and all continents.
The international survey of video game industry professionals includes responses from 154 participants, most of them from the United States, the United Kingdom and Turkey. Three-quarters of the participants work directly in programming and development, and just over a quarter are company founders or senior managers. The study was conducted by Walr.
Sekip Can Gökalp, CEO and Founder of Coda Labs, commented:
“The potential benefits of web3 games for gamers are well debated, but the advantages for developers and studios tend to fall by the wayside. This survey shows that most developers have already dived into web3 game development, driven by advantages such as additional funding, new revenue streams and player retention. As in our client survey earlier this yr, it is also clear that there are many who do not perceive blessings to them. As someone who has posted cell games totaling over a hundred million downloads, I trust the current model of paid person acquisition and platform prices is outdated, and web3 represents an possibility for builders to replace it with a extra equitable one.”
Rana Rahman, founder and CEO of Raptor PR, adds:
“Despite combined critiques about web3 video games in each customer circles and the video game enterprise, there is plain momentum, as this records demonstrates. This momentum is not solely driven by commercial zeal, such as becoming the next F2P, but is intended to improve aspects of the game and the business of the video game industry. In addition to better revenue sharing for creators and developers, obvious player-first concepts such as gameplay progression and basic interoperability come to mind. Based on my conversations with industry leaders, from indies to AAAs, there is a flurry of activity to deliver games with smart use of web3. It’s not a question of ‘if’ web3 games will take off, but ‘when’.”
- Web3 games can be a revolution….
More than half of respondents (56%) believe that web3 technology will revolutionize the video game industry, and 60% agree that it will last a long time.
- …But not everyone is convinced…
Nearly a third (32%) believe that Web3 games are a fad and will not last long. Thirty-one percent (31%) dare to say that Web3 games are a scam.
- New revenue streams and new users
Developers expect that the main benefit they will gain from web3 will be new revenue streams through the sale of NFT (47%) or tokens (43%). Forty percent expect improved user acquisition, and 36% expect improvements in user retention.
- Three-quarters expect to work on web3 in the future
When asked about their company’s future web3 development strategy, 75% expect web3 games to be included.
- Web3 is being worked on, but releases are few and far between.
62% have experience with web3 games, but less than a quarter (23%) have already launched any.
- Companies are hiring web3 staff right now.
More than half (57%) say they are hiring web3 staff, indicating that it is a growing sector.
- Player adoption can be an issue
More than a quarter (27%) of participants cited gamer adoption as the main obstacle for games to overcome. Related to this, 21% were aware of the often complex user experience of web3 games.
Despite an ongoing “cryptowinter” and a series of crises among web3 companies, investment in blockchain games has remained relatively strong. As of 2022, at least $7.8 billion has been invested in web3 games and gaming projects, while Animoca Brands recently announced a new $2 billion fund dedicated to metaverse startups.
Coda Labs commissioned WALR to conduct an online survey of 154 mobile, console and PC game developers. The fieldwork took place in August 2022. Respondents were primarily from the UK, US, Turkey, France and Germany. WALR is a member of the Society for Market Research and abides by all of its codes of conduct.
About Coda Labs
Coda Labs is a team of creative and technology experts focused on creating fun mobile gaming experiences powered by blockchain technology.
Our goal is to drive web3 adoption to bring millions of gamers to the blockchain, while creating new economic opportunities for game developers and gamers.
Coda Labs recently changed to be fully dedicated to web3 and rebranded from Coda Platform, a mobile game publishing platform founded in 2019. Infinite Arcade, Coda Labs’ first web3 project, launched in March 2022 and several more projects are in the pipeline. Coda Labs is backed by top-tier investors including Lvp, investors in Unity and Supercell.
About Raptor PR
Based in London, Raptor PR is a fast-growing global communications agency for video games, web3 games and media brands. Founded by Rana Rahman after a 20-year career in communications, Raptor PR assembles bespoke teams for each client from a unique network of senior communications and content specialists to deliver tangible results that directly contribute to business objectives and brand engagement.
Raptor PR is proud to be a member of UKIE, the UK trade body for the interactive entertainment sector, and the Blockchain Game Alliance, an organization that spreads awareness and adoption of blockchain in the gaming industry.
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