2024 State of the Industry Report

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BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

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BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

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CONTENTS
4
Report
Summary
23
BGA In Action
51
2025 Predictions
56
Glossary
11
Survey Overview
17
Why Blockchain for
Gaming
46
SocialFi in
Blockchain Gaming
6
Letter from the
BGA President
8
BGA Board
Members
21
The Importance of
Onchain Innovation
49
Careers in
Blockchain Gaming
43
Driving the Industry
Forward
29
Challenges in the
Industry
39
Web2 Franchises
and Studios
Transitioning to
Web3
27
The Global
Adoption
Challenge
35
Redefining Player
Rewards
55
Get Involved
58
BGA Members
Overview
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

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REPORT
SUMMARY
Now in its fourth year, the BGA State of the Industry Report
presents data collected from an online survey to provide
a viewpoint of the current state and trajectory of the
blockchain gaming industry from the perspective of its
professionals. It highlights the challenges, opportunities,
and trends in the ecosystem heading into 2025.
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

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Key Takeaways
DEMOGRAPHICS
3X
increase in the number
of survey participants,
compared to the 2021
survey
52.5%
of blockchain gaming
professionals come from
gaming, not crypto
17.3%
female representation
highlights an ongoing
challenge with gender
diversity
INDUSTRY DRIVERS
#1
benefit of blockchain
games is asset
ownership, as voted for
four years running
4 OUT OF 10
say new models for
revenue and rewards are
the next biggest benefits
18.6%
say traditional games and
IPs moving into Web3 has
had the greatest positive
impact
INDUSTRY CHALLENGES
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 5
53.9%
say onboarding
challenges and poor UX
are still the industry’s
biggest challenge
66.3%
say the main
misconception against
blockchain games is that
they are a scam or Ponzi
29.5%
of the industry is
also fighting the
misconception that Web3
gaming is full of bots
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LET TER FROM THE
BGA PRESIDENT
For the fourth consecutive year, the
Blockchain Game Alliance (BGA) has
conducted an industry survey with its
members on the state of blockchain
gaming. Our association is now recognized
globally, and this report has been covered
largely across major media publications
— including VentureBeat, Cointelegraph,
BlockchainGamer.biz, Crypto.news,
CoinMarketCap, Blockworks, and others —
and has helped onboard new entrants into
the space. It’s my pleasure to share with
you the insights of our members who are
shaping Web3 gaming and what the future
holds for us.
As market recovery continues, we’re
witnessing the remarkable resilience
of our industry. This year has brought
significant advancements in top-tier
games and strategic collaborations
between leading Web2 companies and
blockchain ecosystems. There’s a clear
sense of confidence coming through in
our annual survey, with more than 8 out
of 10 of respondents stating that they
are committed to remain in the industry
over the next year, signaling unwavering
dedication to our progress.
Blockchain gaming has also expanded
its reach globally, with strong growth
observed in South America, the Middle
East, and Africa. This marks a significant
shift from the early years of our survey
6 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
This year has
brought significant
advancements in
top-tier games
and strategic
collaborations
between leading
Web2 companies
and blockchain
ecosystems.
Blockchain gaming
has also expanded
its reach globally,
with strong growth
observed in South
America, the Middle
East, and Africa.
“
“
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

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Sebastien Borget
President
Blockchain Game Alliance (BGA)
initiative, when activity was concentrated primarily in Asia, Europe, and North America,
with little to no representation in other regions. This is a promising indicator for our
industry’s adoption trajectory.
At the heart of this growth is the principle of player empowerment. Digital asset
ownership remains a cornerstone, with 71.1% of respondents recognizing it as the
single biggest benefit that blockchain gaming delivers. Experimenting with new
models for revenue and rewards is also still top of mind for builders, reflecting our
continued drive to design games and virtual economies that place legitimate value on
player engagement while also being demonstrably robust and sustainable.
Of course, we also continue to face challenges. This year, over half (53.9%) of
respondents cited onboarding and user experience as key hurdles obstructing their
growth. Notably, however, this figure has come down from 79.5% in 2023 — suggesting
that we’ve already made significant strides in simplifying entry points for new players
and creating smoother interactions with the blockchain. Innovations in design and
functionality have reduced barriers and these advancements are helping to ensure
that the Web3 gaming ecosystem is more intuitive, inclusive, and welcoming to a
broader audience.
Additionally, I’m proud to report that in 2024, the BGA Survey smashed our previous
record for the number of responses received, representing an even bigger range of
perspectives from an incredibly diverse group of blockchain gaming professionals from
all around the world. I would like to express my deepest gratitude to everyone who took
the time to participate and share their opinions. Thanks to our survey participants,
we can once again share this annual snapshot of attitudes and sentiment which is a
critical qualitative complement to the onchain analytics that most of us tend to lean
on day-to-day.
Finally, our focus on gender diversity has shown an encouraging increase in female
participation following a declining trend. But we are far from where we’d like to be in
terms of women’s representation in the BGA, so our work continues, to make sure we
include and represent all groups within our industry. Together, we build an industry
that empowers players, fosters innovation, and reshapes the future of gaming.
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The governing body of the BGA consists of a diverse and well-rounded collective of
industry professionals from across the globe, united in driving blockchain gaming
adoption. They are elected by BGA members, ensuring balanced representation
across different regions and sectors. Building on the foundation of the original
founding members, the current board spearheads educational initiatives and
empowers developers to pursue innovation. The BGA board actively forges strategic
partnerships and plays a key role in shaping the future, committed to establishing
blockchain gaming as a cornerstone of the broader gaming industry.
BGA BOARD
MEMBERS
Sebastien Borget (President)
The Sandbox
Sebastien is the co-founder and COO of The Sandbox, a
decentralized virtual world where players can create, play,
own, govern and monetize their experiences. He has been
President of the BGA since 2020 and has been named one of
the most influential people in crypto by Cointelegraph.
Shaban Shaame (Treasurer)
EverdreamSoft
A veteran of mobile game production, Shaban is the
co-founder of EverdreamSoft. He has been developing
blockchain games since 2014, with one of his first releases
being Spells of Genesis through EverdreamSoft. It was one
of the first projects that emphasized “true ownership” of
digital assets.
Yasmina Kazitani
Interverse
Yasmina’s 18 years of expertise lie in franchising, ecosystem
building, and licensing business models. She is currently
working with the UK parliament and other institutions to set
regulations and frameworks to help blockchain gaming grow
and thrive safely.
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Leah Callon-Butler
Emfarsis
Leah is the Director of Emfarsis, a Web3 advisory firm with
special expertise in communications. In crypto since 2017,
Leah has taken an active role in guiding public discourse
around Web3, writing an opinion column for CoinDesk
and leading conversations at world-class events such as
Consensus and the YGG Play Summit.
Hideaki Uehara
Square Enix
Since 2019, Hideaki has been active in driving investments
toward blockchain projects and promoting collaborations
with Web3 companies at Square Enix. He believes Asia can
be a very promising market for blockchain games and uses
his experience to push forward development in this sector.
Christina Macedo
PLAY
Christina joined the BGA board to help encourage more
women to become founders and game developers in Web3.
She founded PLAY with the vision to enable any game to be
built and any story to be told, creating diverse communities
of players who want to play, all powered on the blockchain.
Alex Kosloff
Altura
With over a decade of experience in business development,
including 4 years in Web3 gaming, Alex has positioned Altura
as a leader in the space. He has built over 200 strategic
partnerships with industry giants like Unity and the top 15
blockchain networks, known for his leadership and high-
performance sales teams.
Mariano Rubinstein
Sura GG
As CEO of Sura, Mariano Rubinstein has built Latin America’s
largest Web3 gaming ecosystem, comprising Sura Gaming,
Sura Labs, and GaminoVC. He has expanded Sura’s
presence across LATAM and Spain, fostering networks
and empowering the Web3 gaming community. As a Board
Member of the Blockchain Game Alliance, Mariano drives
innovation and collaboration, advancing blockchain gaming
with a global vision.
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Honorary Members
Nicolas Pouard
UBISOFT
Aleksander
Larsen
SKY MAVIS
Serena Tabacchi
MOCDA
Nicolas Gilot
ULTRA
Ludovic
Courcelas
CONSENSYS
Piers Kicks
DELPHI VENTURES
Marc Coupal
ENJIN
Gabby Dizon
YIELD GUILD GAMES
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SURVEY
OVERVIEW
OBJECTIVE
This survey aims to gather and analyze the
views of blockchain gaming professionals,
offering valuable insight into industry
challenges, opportunities, and key drivers
heading into 2025. With data spanning
the past four years, the survey provides
a comprehensive view of blockchain
gaming’s evolution along with its future
trajectory. The information here can be
a valuable resource for stakeholders,
investors, regulators, journalists,
researchers, and other blockchain gaming
professionals. The findings also guide the
BGA’s upcoming initiatives.
METHODOLOGY
In 2024, the BGA partnered with consulting
firm Emfarsis for the fourth consecutive
year to conduct its industry survey,
featuring 19 questions on careers, industry
growth, adoption, and challenges. The
survey ran from August 21 to September
29, 2024, and was distributed through
the BGA Member Database, LinkedIn,
email, X, and Telegram, with additional
responses gathered at events such as
Gamescom Cologne and TOKEN2049.
Of 716 responses, 93 were excluded as
incomplete, leaving 623 valid responses
for analysis.
The survey was a hybrid (qualitative-
quantitative) study, which used a cohort-
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 11
cluster and time series data analysis
where similar group samples were
compared in consideration of the previous
year’s results. In terms of changes made
to the survey, updates were made to
questions 6, 7 and 8, which were about
career and tenure, including newly
added optional answers for independent
operators, solopreneurs and freelancers
to identify themselves in the question
about company size. Questions regarding
monthly salary were also removed from
the survey, as respondents have typically
included a high number of founders who
do not pay themselves a salary.
The multiple choice options for
questions 13, 14, 15 and 16 were updated
for readability and to reflect emerging
trends. In particular, “new ways of
community building” replaced “new
collaborations and partnerships” as a
benefit of blockchain to gaming, while
“lower transaction costs” was removed
due to advancements in Layer 2 solutions.
Options for user experience (UX)
were combined with onboarding and
accessibility in the sections about
industry pain points and growth drivers.
“Not enough industry standards” was also
added to the selections for industry pain
points, while “reduced NFT costs” was
removed from the list of factors driving
the industry forward, to give way for
“industry conferences and networking.”
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

12 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
A new response option for bots was also
included in the section on misconceptions
about blockchain gaming.
Finally, the optional open question on the
role blockchain gaming can have in the
future was replaced to better capture
industry sentiment on its trajectory,
focusing on what respondents wished to
change the most about the current state
of the industry.
17.3%
GENDER
0.8%
Female
Non-binary/
Prefer not
to say 81.9% Male
AGE
6.1%18-24 y.o.
43.3%25-34 y.o.
36.4%35-44 y.o.
11.9%45-54 y.o.
2.3%55 y.o. and over
REGION
36.8%Europe
1.4%Other
26.2% Asia
15.4%North
America
4.2%Africa
11.7%South
America
4.3%MENA
TENURE
12.2%
56.2% 11.1%
Over 5
years
2.6%Currently
Not Working
18%4-5
years
Less than
1 year
1-3 years
RESPONDENTS
The 2024 survey received 623 valid
responses, an 18.4% increase over
2023 and nearly three times that of
2021. This growth highlights the BGA’s
expanding influence and the continued
interest in blockchain gaming despite the
“Crypto Winter,” with increased survey
participation from industry professionals
across various sectors and regions.

BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 13
Since 2021, the BGA has placed an emphasis on gathering insights from a diverse range
of industry professionals including (but not limited to) founders, developers, publishers,
venture capitalists, and service providers in legal, finance, marketing and PR, who were
either working or between jobs in blockchain gaming. Journalists and content creators
who were actively covering blockchain gaming were also encouraged to complete the
survey. Esports players who were signed to a competitive guild or receiving financial
support in the form of a salary or sponsorship were also eligible. This ensures that key
roles are represented, providing a comprehensive overview of the state of the sector and
its future direction.
Below is a non-exhaustive overview of some notable companies identified as current
employers by survey respondents. These include Aavegotchi, Accenture, Animoca
Brands, CoinDesk, Decrypt, double jump.tokyo, GAM3S.GG, Immutable, Square Enix, The
Sandbox, Ubisoft, Yield Guild Games (YGG), and more.
DEMOGRAPHICS
Gender diversity remains a challenge, with
81.9% of respondents identifying as male
and 17.3% as female. The latter figure is
up from the previous year’s participation,
which saw only 16.9% female respondents.
The slight increase is far from a cause for
celebration, but it is encouraging to see
that the number has not dropped further
after being in a state of decline over the
past three years. The previous all time high
for women’s representation in the survey
results was in 2021, at 20.3%.
The survey results reveal even greater
gender disparity when looking at
respondents occupying senior level
positions. Of the CEOs, Founders,
Directors, and C-level executives that
responded to the survey, 87.2% were
male and only 12.5% were female. This
skews more male than the overall survey
respondent demographics.
“I’ve long held that blockchain
solves trust problems. Because
of this, Web3 is likely to transform
how games are funded and
published first rather than solving
game experiences which Web2
already addresses very well.
Trust between developers and
publishers is probably at an all-
time low, which may explain the
influx of skilled developers into
Web3. We will revolutionize the
game industry first. Most Web3
games solve economic problems
so for now appeal to a niche of
gamers. With high-quality games
arriving, this will change.”
MIKO MATSUMURA
Managing Partner
gumi Cryptos Capital

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In terms of regional representation, Europe
continues to lead with 36.8% of respondents,
followed by Asia at 26.2%, North America at
15.4%, Latin America at 11.7%, and Middle East
and North Africa (MENA) at 4.3%. The numbers
coincide with the expanding global reach of
blockchain gaming. In 2021, the BGA State of the
Industry Report saw only 0.9% representation
for MENA, while Europe had 35.4%, Asia had
30.2%, North America had 13.2%, and Latin
America had 10.4%.
AGE DISTRIBUTION
The largest cohort of survey respondents was
the 25-34 age group, accounting for 43.3%.
The 35-44 group made up 36.4%, while ages
18-24 represented 6.1% — an all-time low for
the bracket since the annual report was first
published in 2021, suggesting that less young
people are entering and working in the industry.
The 45-54 group accounted for 11.9%, while
those 55 and over comprised 2.3%.
PROFESSIONAL EXPERIENCE AND TENURE
In 2024, more than half (52.5%) of all
survey respondents identified their primary
professional expertise as Web2 or Web3 gaming.
This was the highest it has been in four years of
conducting the survey — up from 34.2% in 2023
and 39.2% in 2022. Conversely, those identifying
as blockchain or cryptocurrency specialists was
down from 21.7% in 2023, 21.1% in 2022, and
27.4% in 2021, to just 10.8% in 2024.
For an industry that has faced great scrutiny
regarding the importance of building fun-first
and less financialized games, it is significant to
see an increased prevalence of professionals
coming from a background in gaming as opposed
to blockchain or cryptocurrency. While it’s
uncertain whether this indicates a true shift in
expertise or merely a change in self-perception,
it highlights an evolution in how the industry
defines its identity.
“That data is not true, in my
experience. In our Guild, we
have more younger people
ages 18-23 than those who
are in their late 20s. Mostly
students looking for a
way to earn extra and gain
experience that they can use
for future work. Plus, young
people are more tech-savvy.
Easy to navigate phone apps.
Look at TikTok where most
young people spend their
time nowadays — either
they want to be entertained
or learn from their favorite
KOLs. My son is just a baby,
but when the time is right,
I’d definitely want him to get
involved with my guidance.
He has more gaming tokens
than average gamers in our
community. I’m building his
portfolio so when he grows
up, he can just explore the
tech and probably build on
top of it.”
KOOKOO CRYPTO TV
Founder
Sando Metaverse OPC

BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 15
Respondents working in admin, operations and Project Management positions also
dropped to 11.4% of respondents, down from 15.2% in 2023. The rest of the respondents
were divided among infrastructure, marketing, investment, design, media, AI, and other
roles. The lowered number of support roles indicates a consolidated ecosystem with
smaller teams, which is unsurprising as the industry comes off the back of a bear market.
Regarding tenure, more than half (56.2%) of respondents reported having one to three
years of experience in blockchain gaming, while those with over five years of experience
dropped slightly from 15.2% to 11.1%. Only 12.2% of respondents had been in Web3
gaming for less than one year, a stark contrast to 42.5% in 2021, 49.9% in 2022 and 21.3%
from 2023. While this indicates that fewer workers have entered the blockchain gaming
industry over the past year, the significant increase in survey participants overall signals
growing engagement and retention, suggesting that those who joined the industry
earlier are staying longer and actively contributing to the ecosystem.
ROLE AND INFLUENCE
Three quarters of respondents (73.2%) were managers, team leaders, or higher
positions. Of these, senior leadership remained prominent, with 46.7% of respondents at
the founder, director, or C-level position — the highest representation seen in four years.
Additionally, 25.5% were non-executive managerial roles. The remaining 26.8% were
divided among non-executive roles, freelancers, key opinion leaders (KOLs), esports
players, interns, and those between jobs. A higher concentration of senior roles in the
blockchain gaming industry reflects consolidation, with the prolonged Crypto Winter
leading to tighter budgets and hiring slowdowns.
PROFESSIONAL EXPERTISE
52.5%8.8%
Development
8.0%
Marketing
11.4%
Operations
Gaming
8.5%
Other
10.8%
Blockchain

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Organizations identifying as protocols or
development tooling more than doubled, up from
7.4% in 2023 to 15.9% in 2024. There was also an
increase in organizations identifying as Marketplaces,
Launchpads and Discovery Platforms, from 6.5% in
2023 to 10.1% in 2024.
In terms of organization size, respondents from
organizations with greater than 50 staff have declined
from a high of 34.4% in 2021 to a low of 22.0% in 2024.
Meanwhile, respondents working at companies with
11-50 employees increased by 12.2% from 2023 to
reach 44.1% in 2024.
The decline in larger organizations and growth in mid-
sized companies suggests a shift where well-funded
startups are scaling up but haven’t yet reached the
50+ employee threshold. This points to a transitional
period where smaller teams are growing and
contributing to industry activity, potentially signaling
a new wave of innovation and the next phase of the
sector’s development as these startups mature into
mid-sized players. It could also reflect a redistribution
of talent and resources as the industry recalibrates
in response to changing market conditions.
ROLE
47.7%25.5%
5.8%
KOL (inc. Esports)
3.7%
Others (inc. Not Working)
Founder / C-Level /
Director Manager / Team Lead /
Supervisor /
Department Head
17.4%
Non-executive Roles
“Web3 gaming has evolved
from its crypto-driven,
financialized origins into
a space where fun-first
games take the lead, with
blockchain enhancing
rather than defining the
experience. Early crypto-
centric efforts laid the
groundwork, proving the
potential of the space and
giving gaming-focused
developers the confidence
to invest the time and
effort needed to create
expansive, immersive
experiences.”
KURT WATKINS
Founder
Watkins Legal

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WHY BLOCKCHAIN
FOR GAMING?
In 2024, 71.1% of respondents recognized
digital asset ownership as the top benefit
of blockchain gaming, a consistent trend
since the first BGA survey in 2021. The
concept of asset ownership has evolved
significantly over the years. For instance,
the preliminary play-to-earn model
that became popular in 2020 and 2021
required ownership of NFT assets to be
able to play blockchain games. Then from
2022 onward, the free-to-play model was
embraced by most blockchain games
in order to improve accessibility and
reduce onboarding friction, making asset
ownership optional. Even so, blockchain
gaming professionals still believe that
the biggest benefit of blockchain gaming
is asset ownership, which is significant
as it lays the foundation for true digital
property rights, enabling players to retain,
trade, and monetize their in-game assets
across platforms and ecosystems.
Recent advancements that demonstrate
the evolution of asset ownership include:
• Dynamic NFTs: Tokens that can evolve
or change based on player progress,
achievements, or external events,
enabling a deeper sense of connection
and personalization for players.
• Soulbound Tokens (SBTs): Immutable,
non-transferable tokens that reflect
a user’s achievements, credentials, or
reputation, paving the way for identity-
based gaming and personalized
experiences.
42.2%
TOP 3 BENEFITS OF
BLOCKCHAIN GAMING
71.1%
42.4%
Asset
Ownership Player
Reward Models New
Revenue Models
“We’re excited about the future
of gaming onchain, which
bridges the gap between virtual
and real-world ownership. With
onchain gaming, players can
actually own their assets and
accomplishments, and take their
assets from one game to another.”
JESSE POLLAK
Creator
Base
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• Token-Gating Mechanisms: Systems
that use NFTs or fungible tokens to grant
exclusive access to in-game features,
private events, or curated content,
enhancing utility and creating new revenue
streams.
• ERC-6551 Innovations: Smart contracts
that empower NFTs to act as wallets, holding
other assets or executing transactions
autonomously, especially when paired with
AI, unlocking new layers of functionality
and interactivity.
• Interoperability Across Platforms: The
ability for NFTs and assets to seamlessly
transition between games or platforms,
reinforcing the idea of true ownership and
expanding the utility of assets beyond a
single ecosystem.
All these innovations align with the perceived
next biggest benefits of blockchain gaming
based on survey responses, new revenue
models (42.2%) and player reward models
(42.4%). A new mechanic that games have
tested out this year is play-to-airdrop, in which
players receive rewards based on the time and
CHANGING AT TITUDES:
TOP 10 BENEFITS OF BLOCKCHAIN GAMING
Asset Ownership
New Revenue Models
Player Reward Models
Decentralized Ownership
Transparency
New Collaborations
Creativity And Gameplay
Provably Fair Mechanics
Improved Data Security
Data Management
1
2 3
4 5
6 7
8
9
10
Asset Ownership
Player Reward Models
New Revenue Models
Creativity And Gameplay
Decentralized Ownership
Interoperability
Community Governance
Transparency
New Collaborations
Provably Fair Mechanics
1
2 3
4 5
6 7
8
9
10 Asset Ownership
New Revenue Models
Player Reward Models
Decentralized Ownership
Interoperability
Transparency
Creativity And Gameplay
Community Governance
New Collaborations
Optional Creator Royalties
1
2 3
4 5
6 7
8
9
10 Asset Ownership
Player Reward Models
New Revenue Models
Decentralized Ownership
New Collaborations
Creativity And Gameplay
Interoperability
Transparency
Optional Creator Royalties
Provably Fair Mechanics
1
2 3
4 5
6 7
8
9
10
2021 2022 20232024
“We used to own records and
DVDs, now we rent them on
streaming services. We used to
own games in boxes and could
trade them in — as our lives
become increasingly digitized,
now we have access to them
under terms and conditions. We
are, in fact, no longer owners
of the items that enrich our
lives; we have become virtual
renters. With the technological
and legal framework that
blockchain affords, we can
regain and become owners of
our digital property. At CCP
Games, we want to build new
worlds resting on that core
assumption, and EVE Frontier is
our foray into that exciting new
premise.”
HILMAR VEIGAR
PÉTURSSON
CEO, CCP Games
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 19
effort they invested in the game instead
of through sole financial investment.
Other new models include create-to-
earn systems, which incentivize players
who design game assets for others
to use, and SocialFi questing, which
rewards players for interacting with other
users. Blockchain gaming is opening up
more possibilities that help build a more
vibrant and dynamic ecosystem.
Decentralized governance (26.9%)
and new ways of community building
(24.1%) round out the fourth and fifth
spots. These two themes underscore
the blockchain gaming industry’s
focus on empowering players to
actively participate in decision-making
processes and fostering vibrant, self-
sustaining communities that drive
engagement and long-term growth.
REGIONAL INSIGHTS
The survey reveals regional differences
in perceived benefits. Asia and Latin
America continue to prioritize player
PROPORTION OF THE GAMING INDUSTRY LIKELY TO LEVERAGEBLOCKCHAIN WITHIN THE NEXT YEAR
41.6%
15.9%
7.2%
4.3%
3.9% 0 – 20%
41% – 60%
61% – 80%
81% – 100% Don’t know
27.1%21% – 40%
“In 2025, Web3 gaming will see
the release of its first blockbuster
titles, marking a significant shift
towards mainstream acceptance.
With enhanced player ownership,
integrated AI, and evolving economic
models, the sector is set to
redefine digital entertainment while
attracting traditional gamers.”
NICOLAS GILOT
CEO and Founder
Ultra
“Blockchain just makes sense for
games. I honestly can’t believe I
never thought about it growing
up — like, why wasn’t I getting any
real value out of all those hours of
gaming? Then Web3 games came
along, and it just clicked.”
CIARAN LYONS
Markets and Gaming Reporter
Cointelegraph

20
rewards, driven by the popularity of play-to-earn (P2E)
games as alternative income sources in emerging markets.
Meanwhile, North America and Europe emphasize new
revenue models and decentralized ownership, tapping
into more traditional monetization approaches while
integrating blockchain’s potential to enhance player
ownership and engagement.
Optimism about blockchain adoption in gaming remains
strong amongst industry professionals, with 54.6%
predicting that at least 20% of the wider gaming industry
will adopt blockchain within the next 12 months. Big tech
companies like Sony, Amazon, and Google exploring
blockchain technology and gaming companies like Ubisoft
experimenting with blockchain also indicate a continued
rise in interest in exploring the technology’s potential to
reshape the gaming landscape and beyond.
Looking demographically, female respondents expressed
more optimism, with 38.9% expecting over 40% adoption
within the next year, compared to 25.1% of men. Conversely,
44.9% of male respondents stated less than 20% of the
industry would adopt blockchain, while only 25.0% of
female respondents held this view.
Survey data indicates that younger professionals
predominantly view blockchain as a natural progression
in gaming, with 81.6% of respondents in the 18-24 age
bracket predicting over 20% adoption. Older professionals
demonstrate a more conservative outlook, with only 43.2%
of respondents ages 45 and above sharing the same view.
With a consistently positive view of future adoption and
continuous innovation in blockchain technology, the
industry is poised for growth. Builders see Web3 elements
as an opportunity to add features and capabilities that
were not possible before with gaming. The ability to create
player-driven economies, open up true ownership of digital
assets, and unlock more earning opportunities are just
some of the benefits that professionals are highlighting,
with many more discovered each year.
“Blockchain will
introduce more
transparent
decentralized
economies where
in-game assets
can be traded on
open marketplaces,
leading to player-
driven economies
and greater
ownership. Rewards
and in-game
achievements will
extend beyond
gaming, offering
utility in other Web3
applications. All of
this will take place
against a backdrop
of games being
integrated into
broader metaverse
ecosystems,
allowing players
to seamlessly
transition between
virtual worlds
and other online
experiences.”
KEVIN FOO
Global PR Lead
WEMIX
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

21
THE IMPORTANCE OF
ONCHAIN INNOVATION
In general, traditional video games operate
through a centralized server. Everything
from back-end data to infrastructure
exists and operates through this channel,
with other region-specific servers existing
to ensure stability. Since the advent of
CryptoKitties in 2017, blockchain games
have begun experimenting with placing
game elements onchain. A common
example would be in-game assets as
non-fungible tokens (NFTs). Items, skins,
weapons, and other collectibles being
logged onchain give players the ability to
trade and transfer these assets, opening
the way for true digital ownership.
With more games experimenting with the
integration of every element onchain,
the Blockchain Game Alliance (BGA) has
continued its efforts to educate the wider
gaming industry about the benefits of
adopting blockchain technology.
Understanding Fully
Onchain Games
A fully onchain game (FOCG) runs
entirely on the blockchain, including
all logic, assets, and interactions. The
degree of decentralization can vary, but
being fully onchain means a game can
operate securely, transparently, and often
autonomously.
This contrasts with many current
blockchain-based games that only adopt
the technology for certain elements, like
“My opinion of FOCG is that the
tech is rapidly catching up to the
promise. Scaling solutions like
dedicated dappchains are allowing
games to scale horizontally as they
grow, while keeping transactions
snappy for the end user. Immersive
gameplay combined with
innovative crypto economies
is going to prove a fascinating
and alluring combination for
gamers looking for novel gaming
experiences.”
CODER DAN
CEO
Pixelcraft Studios (Aavegotchi)
“The emergence of fully onchain
games and autonomous worlds
marks a pivotal shift in the gaming
landscape. These advancements
unlock new possibilities for
immersive and interactive
experiences. As the industry
continues to innovate, these
new models are expanding the
breadth of available games in the
space, and showcasing the value
blockchain brings to gaming.”
GILLIAN PUA
Chief of Staff
Sovrun (formerly BreederDAO)
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

22 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
assets or currency, while the core gameplay
remains on centralized servers. Autonomous
worlds take this a step further by evolving
independently through player actions without
central control, creating a state of permanence
even after the player has logged off.
Both FOCGs and autonomous worlds have the
potential to influence blockchain infrastructure
due to their need for high transaction volumes,
which can challenge network scalability.
These games highlight the importance of
faster transaction speeds and cost-efficient
systems, encouraging platforms to explore
improvements in performance and scalability. As
the adoption of fully onchain models grows, there
is an opportunity for blockchains to align their
infrastructure developments with the demands
of these emerging gaming applications.
Innovation Beyond Infrastructure
FOCGs are an innovation akin to breakthroughs
in mobile technology like augmented reality
(AR), because they introduce entirely new
ways of interaction and functionality, requiring
advancements in infrastructure and design
to unlock their full potential. Onchain games
unlock new possibilities, such as player-owned
economies, decentralized governance, and
autonomous worlds. Players can vote on rule
changes and influence a game’s direction,
reshaping the relationship between players and
developers.
FOCGs and autonomous worlds present a preview
of the future of gaming when it is completely
decentralized. They test the limits of blockchain
infrastructure and invent entirely new gaming
experiences. These innovations could also
influence applications outside of games. The BGA
is committed to driving innovation, supporting
developers who want to offer fundamentally new
gaming experiences.
“As open worlds and
metaverses mature and data
chains rise, I envision a boom
in user-generated content
and user-generated smart
contracts. We’re quickly
approaching a time when
content can live onchain and
royalties can be enforced every
time data is accessed. Users
will be able to launch their own
marketplaces, tournaments,
wagers and other smart
contracts with the click of a
button.”
JAY ALBERT
Developer Relations Specialist
Chainsafe Gaming
“The fully onchain games
ecosystem has made
significant strides in
2024, with improved
infrastructure, a wave of
new mainnet games, and
growing attention from the
broader Web3 space. Recent
momentum in integrating AI
agents has been particularly
impactful in bringing
renewed attention to the
space. However, onchain
gaming remains a niche
struggling to find product-
market fit. The first breakout
FOCG is likely to defy all
existing models — including
those of today’s leading
onchain games.”
MAT T DION
Founder, Always Scheming

23
The BGA helps its members by fostering collaboration and increasing visibility through
events that showcase blockchain games, infrastructure, tools and services. These
efforts are aimed at supporting, educating, promoting and raising awareness of the
industry. Throughout 2024, the BGA has fulfilled its objectives around the world through
a variety of ways.
IN ACTION
Game Developers
Conference (GDC) San
Francisco
March 18-22, 2024
• Held a BGA booth and organized
two events: WAST3D at GDC and
Breakfast Bytes with Polkadot
Play, ChainSafe Gaming and
FunFair Ventures
• Networked attendees, increasing
visibility to Web3 games, tools and
infrastructure
• Opened the Web3 conversation
with the wider industry with the
help of partners Elixir, Skale, &
Random Games
NFT Paris
France
February 23-24, 2024
• Organized BGA Connects &
events with aelf
• Flagship event with panel
discussions, pitch sessions, and
game demos to showcase the
best of Web3 gaming.
• Provided a perspective of the
advancement and potential of
blockchain for gaming.
GLOBAL EVENTS
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 23
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

2424 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
TOKEN2049 Dubai
April 18-19, 2024
Korea Blockchain Week
September 1-7, 2024
Gamescom Cologne
August 21-25, 2024
Gamescom LATAM
June 26-30, 2024
• Held a BGA booth and organized
the Sands of Play side event
• Worked alongside event partners
Cypher Capital and Gam3s.gg
• Connected with the region’s
builders, investors, projects to
understand the landscape for
Web3 gaming
• Organized a side event with Dracoon
Ventures
• Explored the South Korean and Asian
market where gaming companies mix
physical and digital experiences.
• Discussed regulation in the country
and explored opportunities to export
projects to Japan and beyond
• Organized WAST3D side event
at Gamescom with the Elixir
ecosystem and held a BGA booth
• Gathered the community and
networked with attendees, raising
interest from indie studios
• BGA member Digital Animals was the
first Web3 game to be nominated for
the Best Mobile Game award
• Organized a side event with Sura
Gaming
• Connect with the community to
develop understanding of game
developers needs across LATAM
• Onboard companies into the BGA
to support them further
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

25 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 25
TOKEN2049
Singapore
September 18-19, 2024
• Held a BGA booth and
organized the Double XP
gaming event alongside
PlayToEarn.com
• Over 500 attendees went
to the side event, raising
awareness about regional and
international projects
• Showcased an understanding
wider blockchain industry
trends and brought value to
attending BGA members
“At the core of our work at BGA is bringing BGA members together. This fosters
collaboration and innovation, creating a powerful network where projects
can share insights, pool resources, and solve challenges collectively. This
accelerates the growth of individual projects but for also the Web3 gaming
ecosystem as a whole. By working together, we can push the boundaries of
what’s possible, enhancing gameplay experiences, driving adoption, and
building a more robust, sustainable future for blockchain gaming.”
MELANIE DOW
Content Manager, Blockchain Game Alliance
WEBINARS
In 2024, the Blockchain Game Alliance (BGA)
hosted 30 online presentations featuring
over 108 BGA members. These panels tackled
key challenges in the Web3 gaming space,
such as game design, player engagement,
user acquisition, interoperability, and
funding. Each session included three to
four members sharing their expertise and
insights on these topics. All presentations
are available on the BGA YouTube channel and shared through our member groups and
public newsletter.
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

2626 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
STATS SECTION
BGA Demo Days
Demo Days offer BGA members the chance to showcase their latest blockchain
games, products, and services, giving both the BGA community and the public
a glimpse into the exciting innovations in the space. Members can participate in
these monthly sessions via our private channels, while viewers can tune in live on
the BGA’s X, YouTube, and Twitch profiles for a chance to win prizes and giveaways
from participating companies. Past Demo Days have spotlighted projects like
Sequence, Cryptobytes, Transak, and GamingWire, among many others, helping
them gain valuable visibility.
151
New
members (119
companies & 32
individuals)
58
Countries
represented within
the BGA
7
Booths at
conferences
worldwide
75
Members
showcased at
booths
120+
Speaking
opportunities
1,580
Physical reports
and magazines
distributed
53
Media pickups of
the 2023 BGA State
of the Industry
Repor
401
Members
featured in
newsletters
16
BGA side events
2,600
Attendees across BGA side events
BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT

BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 27
THE GLOBAL
ADOPTION CHALLENGE
Blockchain gaming is expanding worldwide, driven by diverse markets from grassroots
movements in the Philippines to established gaming hubs like Japan and South Korea.
The Blockchain Game Alliance (BGA) plays a pivotal role in fostering this global adoption,
representing members across key regions.
Below is a closer look at the trends shaping blockchain gaming across the world, with
insights shared by BGA board members Leah Callon-Butler, Hideaki Uehara, Alex Kosloff,
Christina Macedo, Shaban Shaame, Mariano Rubinstein, Yasmina Kazitani, and Sebastien
Borget, who lead organizations headquartered in these regions or actively involved in
their markets through multinational operations.
The Philippines has emerged as a global
leader in blockchain gaming adoption,
particularly with the rise of play-to-earn
(P2E) through Axie Infinity in 2021. Leah
Callon-Butler emphasizes, “The growth of
the Philippine Web3 gaming community is
a testament to the idea of earning money
by playing a fun video game, which is still
a dream for many, especially in places
where economic opportunities are limited.
For a lot of people, the chance to turn their passion for gaming into a source of income
represents more than just a new way to work — it’s a pathway to financial independence,
creativity, and breaking free from traditional barriers.”
Japan and South Korea, established gaming markets, are also embracing blockchain.
Hideaki Uehara notes, “Some leading game companies see blockchain as a natural
evolution, offering players true ownership of assets.” The BGA’s 2024 events in Tokyo and
Seoul highlighted Web3’s growing role in the region, with major IPs exploring NFTs and
decentralized models, blending innovation with a rich gaming heritage.
In 2024, 15.4% of BGA respondents were from North America, reflecting the region’s
ongoing importance despite regulatory uncertainty. Alex Kosloff says, “Trump’s return
to office could be a pivotal moment for crypto, pushing it into the mainstream and
accelerating its adoption in everyday life. As digital assets become part of everyday
transactions, it’s only logical that Web3 gaming will thrive. It’s a superior framework for
trading digital assets, and the potential is limitless.”

28 BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT
Europe remains a hub for gaming innovation, and many
have begun embracing Web3. Christina Macedo shares,
“Europe’s shift to blockchain gaming is organic, with
major studios engaging early and industry education
through events like ETH Paris leading the way.” Shaban
Shaame adds, “Developers and players are embracing
blockchain as the next step in enhancing gaming
experiences.” In 2024, 36.7% of BGA survey respondents
were from Europe, showing the region’s critical role in
the industry.
Latin America (LATAM) has emerged as one of the
fastest-growing regions for blockchain gaming, driven
by a combination of youthful, tech-savvy populations
and high mobile penetration rates. Mariano Rubinstein
explains, “The rise in blockchain gaming throughout
LATAM is fueled by strong local partnerships, increased
access to education, and rapid adoption in key markets
like Brazil and Argentina.” In 2024, 11.7% of global
blockchain gaming respondents were from LATAM, up
from 8.0% in 2023, underscoring the region’s growth.
Market insights highlight that the LATAM blockchain
gaming market is expected to grow at an annual rate
of over 14%, propelled by expanding internet access,
strong community engagement, and a significant
increase in venture funding for local startups.
Blockchain gaming is also growing in the Middle
East and North Africa (MENA), the rest of Africa, and
Oceania. In 2024, 4.3% of BGA respondents were from
MENA, reflecting increasing interest in blockchain,
particularly in Dubai and Saudi Arabia. Yasmina Kazitani
notes, “MENA and Africa are rising markets with
immense potential, driven by increased investments in
blockchain gaming.”
The BGA hosted over 50 international events in 2024,
supporting blockchain gaming’s expansion across
Europe, Asia, LATAM, and North America. “The BGA is
a global movement committed to making blockchain
gaming decentralized and accessible to all,” says
BGA President, Sebastien Borget. With a diverse
board representing various regions, the BGA remains
dedicated to driving the worldwide adoption of
blockchain gaming through education, partnerships,
and advocacy.
“I love that there are no
limits when it comes
to geographies. It’s no
longer LATAM, North
American, European,
or Asian — it’s just
founders. But there’s
a certain resilience in
LATAM markets that
I don’t often see in
developed countries,
probably because they
operate in a macro
full of hurdles and
inconsistencies. They
find creative loops
to expand and adapt
to ever-changing
regulations, where
nothing is set in
stone, and everything
shifts with each
government. It’s not
just about growing their
businesses but having
stamina to navigate an
environment they can’t
control — like baking a
cake on a roller coaster.
Diversity in this space
enriches the global
ecosystem, proving that
founders everywhere
bring unique strengths
to the table.”
CLARA
BULLRICH
Co-founder
The Venture City

BLOCKCHAIN GAME ALLIANCE 2024 STATE OF THE INDUSTRY REPORT 29
CHALLENGES IN
THE INDUSTRY
Blockchain gaming is constantly adapting
to changes in technology, its applications
in gaming, and the needs of players. The
survey asked respondents two separate
questions regarding challenges facing
their own company, as well as challenges
facing the industry more broadly.
For 53.9% of respondents, onboarding and
poor user experience (UX) remain the top
challenge. This is the third year in a row
that onboarding and UX has been cited
as the biggest challenge for blockchain
games. However, the data in 2024 reflects
a significant improvement from 79.5% in
2023. Accessibility has been a large focus
among all blockchain gaming projects,
with improvements such as user-friendly
interfaces, simplified wallet creation, and
smoother integration with Web2 platforms
for newcomers.
The introduction of free-to-play options
and gasless transactions — where a
trusted relayer or the game developer
covers the gas fees on behalf of the
player, or layer-2 scaling solutions, which
significantly reduce transaction costs
by bundling multiple transactions off-
chain before finalizing them on the main
blockchain — has made blockchain gaming
more accessible than ever. By eliminating
upfront costs and transaction fees, these
innovations have removed significant
barriers that previously discouraged
new players from