Covering all major aspects of the crypto gaming market, the report provides unbiased and data-driven insights drawing from rigorous analysis of 2,500+ blockchain games, 1,500 funding rounds, and 100 blockchain ecosystems over six years, as well as key developments that thought leaders should consider ahead of the new year.
ROAD TOWN, British Virgin Islands, Nov. 14, 2024 /PRNewswire/ — Game7, a community dedicated to accelerating the adoption of blockchain technology in gaming, today published its 2024 State of Web3 Gaming Report in collaboration with Naavik. The report, conducted independently, provides an objective, in-depth analysis of the evolving crypto gaming sector, revealing essential data, trends, and insights for industry professionals.
State of Web3 Gaming 2024 offers a comprehensive view of key ecosystem metrics that have evolved over the past twelve months, building upon and expanding the data from its 2023 report. Through rigorous primary research methods, Game7 has captured, examined, and fingerprinted data from more than 2500 blockchain games, 1500 funding rounds, and 100 blockchain ecosystems over the past 6 years.
George Isichos, Core Contributor at Game7, who spearheaded the report, shared “Maintaining accurate and objective data in Web3 gaming is a herculean effort, requiring deep understanding of technical, gaming, financial, and regulatory aspects. For the second year, Game7 is proud to deliver this comprehensive analysis as a public good to advance the Web3 gaming ecosystem.”
Here are a few key findings from the report:
Current blockchain gaming metrics present methodological challenges, as wallet activities and on-chain data capture only a portion of user engagement patterns and can be subject to artificial inflation. This report proposes an alternative perspective by focusing on developer activity and ecosystem infrastructure development – areas that provide objective and reliable indicators of industry growth as this industry continues to improve the way we capture and analyze end-user metrics. Additionally, it includes a critical examination of publicly reported figures, fact checking industry claims to ensure the most accurate representation of the crypto gaming landscape.
“Our team believes in empowering stakeholders in the Web3 gaming industry, which is what has informed the stringent standards of data integrity, verifiable trend reporting and accountability of Game7,” said Steven Chen, Core Contributor at Game7. “This report not only presents crucial metrics but also challenges commonly held beliefs, particularly regarding the readiness of games for player engagement. We champion these beliefs through our Game7 Developer Program, which will not only provide funding and support to developers building crypto games, but will also prioritize player-centric ideas that promote long term success and reward gamers for helping bring these digital worlds to life.”
“Naavik is thrilled to partner with Game7 on this State of Web3 report. As new Web3 games reveal the potential of this emerging category, understanding the evolving market dynamics, technologies, and best practices is key to enabling tomorrow’s leaders. Game7’s public research is invaluable, and we’re dedicated to supporting high-quality research and game teams driving the future of Web3 gaming,” said Aaron Bush, Co-Founder of Naavik.
A full copy of Game7’s 2024 State of Web3 Gaming Report is available here.
About Game7
Game7 is a Web3 Gaming ecosystem created to accelerate the adoption of blockchain-enabled game economies. The Game7 community helps shape capital allocation decisions, define gaming standards, and fund open-source software. Game7’s mission is to make the future of GameFi business models sustainable by ensuring the interests of players and developers are aligned.
For more information:
Website: https://game7.io/
X: https://twitter.com/G7_DAO
About Naavik
Naavik is a leading research, consulting, and advisory firm dedicated to the games industry. Naavik has worked with 250+ clients on wide-ranging projects and is a trusted partner to both big and small publishers, studios, platforms, and investors. The team’s Open Gaming Research Initiative, backed by a world class creator network, also publishes some of the best free games industry analysis around.
For more information:
Website: https://naavik.co/
X: https://x.com/naavik_co
Media Contact: aheibeck@mgroupsc.com
SOURCE Game7
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