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Some say that blockchain gaming will inspire the next wave of cryptocurrency adoption. Play-to-earn games are certainly ever-present in headlines and conversations around the world. Are they close to mainstream adoption? Not in the slightest. The industry is just beginning and there’s a long way to go. The companies producing the games are well funded and make incredible amounts of money. However, they don’t seem to have that many employees.
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Besides being a nascent industry, blockchain gaming production requires a special set of talents that are not commonly found. This presents an immense opportunity for young students and people looking to pivot and make a career change. Since monetization is built in the ecosystem, chances are blockchain gaming is here to stay. And you can be a part of it. Let’s look at the numbers and you’ll see what we mean.
How Big Is The Blockchain Gaming Market?
In his report titled “Blockchain Gaming Beginnings: From Crypto Craze To Decentralized Fun,” author Joost Van Dreunen offers concrete numbers:
How many people are playing? “Total addressable audience for blockchain gaming is still in its infancy. Mobile, PC, and console total 1.49 billion monthly actives.”
What devices are they using? “The platform of choice is PC, which includes browser-based (40% of total titles), local clients for Windows (16%) and Mac (6%), and Linux (3%)”
What blockchains are they interacting with? “The most popular blockchain is WAX (36%), based on an aggregation of top titles organized by protocol. Ethereum (10%) is much less prominent.”
However, “The success of Alien Worlds, which counted 1 million users in August, 2021, almost single-handedly accounts for the success for WAX.”
“There is a massive difference in popularity among the top titles: Alien Worlds has 59x more players than the #15, Zoo – Crypto World.”
WAX price chart on Bitfinex | Source: WAX/USD on TradingView.com
What Else Do We Know About The Blockchain Gaming Market?
We found even more data for you, let’s dive into the Unique Active Wallets, courtesy of Naavik’s Blockchain Games report:
Believe it or not, “DappRadar notes that games accounted for over half of blockchain wallet activity in the third quarter.”
Not only that, “blockchain gaming daily unique active wallets (UAWs) averaged 1.2 million in October 2021 or up 44% compared to September.”
Let’s dive deeper into those numbers. “The growth in UAW over the past month has mostly been driven by growth in Axie Infinity and Splinterlands wallet activity, which have increased 24% and 57%, respectively.”
This one mirrors the previous report. “The top title by monthly UAWs, Alien Worlds, has 10x the activity as the number ten title, Jelly Squish.”
September 2021 saw a decline in blockchain gaming, but the numbers are once again looking impressive. “Trading volumes grew 762% quarter-over-quarter in Q3 2021 to $2.32 billion.”
What’s All That Noise About A Talent Shortage?
The wildest stat in Van Dreunen’s report is the number of employees the most successful firms in the space function with. Dapper Labs employs 242, Mythical Games 123, The Sandbox 94. Projects that are on the news all the time suffer the same fate, Decentraland has 52 employees and Open Sea 43. Compare that to, “to 9,500 f/t employees at Activision Blizzard, 11,000 at Electronic Arts, 6,495 at Take-Two Interactive, and 960 at Roblox.”
While we could interpret that the data reveals we’re dealing with efficient companies, Van Dreunen thinks otherwise. “A year-over-year increase of +102% in headcount across top blockchain game devs indicates that talent is likely to become a major bottleneck in search of the killer app.“ It may be so, but, that was until NewsBTC published this article. Young people reading this will realize the immense opportunity it represents and will take the appropriate measures.
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Remember that, besides in-game monetization, these companies raise money for new projects constantly and with ease. That means, “Abundant investment money will force firms to compete on hiring experienced developers, engineers, and producers in the short term.” They’re dying to hire you. Go and get the necessary knowledge, this story is just starting.
Featured Image: Matryx on Pixabay | Charts by TradingView