Even if the play-to-earn story was one of the most overstated during the last bitcoin market rise, it is still not apparent whether decentralization is what the gaming industry truly needs. According to a poll of 2,300 game developers, blockchain utilization in gaming as of right now shouldn’t be overstated.
Over 2,000 top game developers were polled by the Game Developers Conference 2023 (GDC) team on their preferred platforms, business models, and monetization strategies. Developers’ perspectives on the likelihood of blockchain adoption in gaming were examined in two areas of the study.
The survey’s findings can be unfavorable for those who are interested in cryptocurrencies. 75% of participants responded “not interested,” 16% said they were “somewhat” interested, and just 7% said they were “interested” in conducting experiments employing blockchain technology in the creation of cryptocurrencies, NFTs, or Web3 as a concept. Only 2% of companies now make use of decentralized instruments. In one year, metrics of favorable opinion toward blockchain experienced a 15-20% decline.
In your opinion, what has changed in the past 12 months regarding the application of blockchain technology in video games? The responses to this question are even more “bearish”: more than half of developers stated that they were against blockchain a year ago and are still opposed to it today; 5% of developers have become more pessimistic about blockchain in that time; and one out of every four developers are unsure of their position.
Several opposing viewpoints were voiced during a conversation. Some developers said that the blockchain industry is looking for workable use cases to demonstrate its value:
Blockchain is a textbook example of a solution looking for a problem. Despite being well known for over a decade, it has no practical use-cases—outside of cryptocurrency, which itself has a single use-case of enabling finance fraud.
Less adamant opponents of blockchain predicted that the industry would discover applications for it and NFTs in around 10 years, but that by 2023 databases will be just as helpful as distributed ledgers in the gaming industry. Some of his coworkers, according to one engineer, are “exploring its (blockchain — V.S.) application more quietly,” he stated. The well-known volatility of digital assets, together with legal and ethical issues, are likely the biggest barriers to crypto adoption and gambling. Between March 20 through March 24, 2023, San Francisco (CA) will host the Game Developers Conference.