More than three-quarters of adult gamers have never heard of blockchain gaming or have never played a blockchain video game, according to a OnePoll survey, indicating a tremendous underserved market
Although blockchain-based video games such as Axie Infinity, Gods Unchained, Star Atlas, Decentraland, and The Sandbox continue to generate considerable interest and discussion among blockchain enthusiasts, their impact on the broader gaming community is still relatively modest.
According to a recent survey by OnePoll, blockchain gaming remains a largely unexplored domain that presents substantial opportunities for studios and game developers to exploit.
52% of the 2,000 adults surveyed had no prior knowledge of blockchain gaming, whereas 32% were aware of the concept but had not engaged in any blockchain-based gaming activities.
When queried about the consequences of studio closures and game server shutdowns leading to the loss of downloadable content (DLC) and in-game purchases, 63% of the respondents recommended that customer refunds be provided for such items if games are irreversibly discontinued.
Roughly one-third (34%) of respondents indicated that the gaming community in question should have the authority to determine whether or not to shut down game servers and take video games offline.
Blockchain gaming and persistent online metaverses allow players to safeguard their diligently earned in-game assets by associating those items with a nonfungible token (NFT).
Through establishing a blockchain connection, gamers are now presented with the prospect of reselling digital assets such as in-game items, characters, and other items that ordinarily possess no resale value.
Due to the gaming industry’s pronounced centralization and the growing dependence on digitally downloaded or streamed games, players are susceptible to the whims of studios and publishers, who routinely remove games from online stores and deactivate online game servers.
Moreover, the gaming industry’s present condition provides participants few opportunities to earn money. Despite the possibility of reselling in-game assets, whether players could realistically earn a substantial income from their preferred video games remains to be seen.
While this is not always the case, there are exceptions in e-sports. An attempt is made to fill this void by a platform such as Axie Infinity, an NFT-based blockchain game in which players amass, reproduce, and engage in combat with Axis characters.
Significant revenue streams emerged for gamers in developing nations due to Axie Infinity’s magnificent $1.3 billion revenue in 2021. A portion of them generated a monthly income of up to $1,300 through their participation in the game.
Axie is a case study illustrating how blockchain technology can unlock value by leveraging robust player economies and assets to generate resell markets for players’ in-game items and income streams.
