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Game Developers Dislike NFTs and Crypto

Game Developers Dislike NFTs and Crypto

"State of the Game Industry 2022", is a recent survey (released in January), by the Game Developers Conference.

The main thing taken from this questionnaire is that, unexpectedly, game developers aren't so fond of creating and working with crypto payments, or NFTs.

2,700 game developers participated in the survey to determine their level of interest when it comes to cryptocurrency and NFTs. Results were unexpected to some since they showed a great contrast to gamers themselves, who are very interested in NFTs.

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To be exact, a tremendous amount of participants (72%), pointed out that their workplace isn't interested in cryptocurrency as a payment tool. The same goes for NFTs (70%). Also, only 1% of studios are already using cryptocurrency, or developing NFTs.

A few comments were questioning the future of the game industry that's in favor of NFTs and crypto:

They’re going to drive a wedge right in the heart of this industry. It’s going to become really clear what folks’ motivations are, and it’s not going to be pretty.

There was only one positive comment saying, "It's the wave of the future", out of 14 others that were a bit ironic and harshly critical. One of them even said, "How this hasn't been identified as a pyramid scheme is beyond me."

Additionally, there was a mutual negative response on metaverse gaming. By one-third of the respondents, to be exact. Nonetheless, augmented reality and virtual reality devices are developed by 12 companies, to assist gamers in getting the whole experience by fully submerging into the games.

Augmented reality is a different version of the real world, created by technology stimulating sound, and digital visual elements. In other words, the physical world is enhanced by computer-generated perceptual information.

OpenSea is the world's largest online marketplace for non-fungible tokens. The trading capacity is mainly driven by collectible items. If you were to look at which collection has the highest seven-day trading volume, it would be the Azuki collection with 27,163 ETH ($6.5 million).

According to Mordor Intelligence, more people tend to go online and play video games to pass some time due to lockdowns worldwide. The report even shows that 222 million new people chose to come online over the last 12 months.

It is possible that if NFTs are added more commonly in the $178 billion traditional gaming industry, they can reach approximately 3 billion games around the world, as stated by Mordor Intelligence. According to sources, in the past 24 hours, the volume of Dapp games that employ NFTs is about $35 million, and it comes from 867,000 users.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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