Game developers’ interest in cryptocurrencies remains low in 2023

Although blockchain technologies, such as cryptocurrencies, non-fungible tokens (NFTs), and Web3, are increasingly adopted among investors and expanding into the mainstream, game developers don’t seem to be as enthusiastic about them as they once were.

Indeed, the majority of gaming companies around the world were not interested in using blockchain technologies, according to the opinion of 75% of game developers associated with these studios, participating in an early 2023 survey by analytics platform Statista, the results of which were published on January 23.

On the other hand, 16% of the respondents said that their studios were ‘somewhat interested.’ Only 7% said the studios were ‘very interested,’ and a measly 2% of the 2,300 respondents stated that their studios were already using cryptos, NFTs, and Web3 to support their games.

In terms of developers’ personal opinions about the use of blockchain technology, it doesn’t seem to have changed much over the past year, as 56% of the respondents in a survey by Games Developers Conference said they were “opposed to blockchain technology” and still are.

How are blockchain games doing?

That said, Japanese gaming giant Square Enix has announced plans to make further inroads into the crypto games sector across 2023 with intentions to roll out new titles, as its CEO Yosuke Matsuda expressed hope that “blockchain games will transition to a new stage of growth” this year.

It is also worth mentioning that an earlier study indicated that the user activity in Web3 games during October and November 2022 accounted for nearly half of all blockchain activity (42.67%) across 50 networks, as Finbold reported on December 1.

In November, Remigijus Zinys, the CEO of gamified social platform Breach.gg, told Finbold about his view that metaverse games would thrive in the future just like the early internet, as blockchain games and metaverse projects raised $1.3 billion in Q3 2022 – a decrease of nearly 50% compared to the previous quarter.

And, more recently, former Tinder Chief Product Officer Josh Sell was appointed as the new Chief Operating Officer at blockchain game developer N3twork Studios to help speed up production on the future Web3 role-playing games (RPGs), Legendary: Heroes Unchained and Triumph, both scheduled for a global release in 2023.

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