- Coda Labs survey finds that Web 3.0 gaming is yet to become mainstream.
- The survey indicated that traditional gamers are still not used to crypto and NFTs.
- The report points out that “Play-to-earn” is the most common word used in relation to Web 3.0 games.
Blockchain entertainment provider, Coda Labs recently conducted a survey on the market sentiment of Web 3.0 games. Though blockchain games are rapidly gaining popularity in the gaming community, the report shows that it is still far away from entering the mainstream.
Blockchain and NFTs have transformed the gaming industry forever. It has introduced ownership rights, transparency, and decentralization in online games. These Web 3.0 games have shifted the power into the hands of gamers giving them a way to create, own, and trade assets. Thus, offering gamers a medium to monetize their online gaming experience.
The merits of the Web 3.0 gaming module are many. However, the survey indicates that traditional gamers are still skeptical to try out Web 3.0 games. They are not used to handling crypto and NFTs. According to the survey, a prominent reason behind the less adoption of Web 3.0 games is the lack of a crypto wallet.
The survey was conducted in 5 countries that include the UK, the US, Brazil, South Africa, and Japan. Only 16% of those who participated in the survey are crypto gamers. These gamers regularly use cryptocurrencies, have crypto wallets, and trade NFTs on DEX and marketplaces.
The report shows that 52% of gamers are not familiar with the term Web 3.0 gaming. While only 15% of those who understand Web 3.0 are interested in playing it in the future.
The key barrier to playing Web 3.0 is the lack of knowledge among gamers. They do not know how it works. A majority of the non-crypto gamers in the survey do not know how to buy and sell cryptocurrencies and NFTs.
On the bright side, the Crypto Non-gamers community is the new target audience for Web 3.0 gaming platforms. These are the people who actively trade cryptocurrencies and NFTs regularly and are familiar with the space.