The blockchain gaming industry is undergoing a transformation where innovation and adaptation to changing market conditions become key factors.
Current State of Blockchain Gaming
Theodore Agranat, Web3 director at Gunzilla Games, claims that the blockchain gaming industry has transformed into a game of 'musical chairs,' where there is no fresh capital influx, but existing funding is merely redistributed among various projects. DappRadar revealed a sharp fall in funding to $16 million last month, with unique active wallets (UAW) also dropping from 10 million to 7.5 million, coinciding with a period of intense airdrop and farming activity.
Threats and Opportunities for the Industry
Agranat noted that users are creating multiple wallets to participate in airdrops, which is an unsustainable practice leading to user migration from one project to another. He also noted that these users are not long-term project participants, but only aim to maximize profits. These trends require new strategies from the industry to attract and retain an audience.
Need for Improved Gameplay Experience
Agranat emphasized that for further development, blockchain games should focus on gameplay experience. Kori Leon, co-founder of the Pixelverse ecosystem, previously mentioned that some blockchain games, despite having support and funding, failed to meet player expectations. This confirms the importance of focusing on creating engaging gameplay.
The blockchain gaming industry faces the challenge of needing innovation and improvement in gameplay quality to attract new users and retain existing ones.
