Gamers Show interest in earning Bitcoin, but NFTs fall flat
ZEBEDEE, a leading Fintech company, has recently published the results of a study on the attitudes of US gamers towards blockchain technologies. While gamers are eager to start earning crypto by playing their favorite games, they are not so keen on owning NFTs.
Bitcoin over NFTs
The study was conducted on the attitudes of U.S. gamers toward blockchain technologies, Non-Fungible tokens (NFTs), and cryptocurrencies. Over 1,000 US gamers who play at least one hour of video games per week were surveyed.
The study found that the majority of gamers are interested in earning cryptocurrencies, but not in the NFT concept. Gamers are five times more interested in earning Bitcoin (27%) than NFTs (5%). This suggests that blockchain games should focus more on their in-game economies and play-to-earn model, rather than NFT-related features.
This indicates that the gaming industry is currently prioritizing NFT rewards over other elements of blockchain games. However, the study suggests that this approach may not be effective, as gamers are not interested in NFTs.
The study suggests that the gaming industry should focus on the in-game economy and play-to-earn model, rather than NFTs, in order to engage gamers and drive adoption of blockchain technologies.
Insights from the 2022 ZEBEDEE Blockchain Gaming Survey
Blockchain and NFT gaming companies have raised over $3 billion in investments during the first three quarters of 2022. However, the industry has often faced negative sentiment. However, it’s worth noting that the survey reveals 67% of gamers would be more likely to play free games if they provided opportunities to earn cryptocurrencies as rewards.
The survey found that the majority of U.S. gamers are supportive or neutral towards web3 technologies that allow for in-game assets to be transferable for exchange or sale with other gamers. It also revealed that not all cryptocurrencies are perceived equally.
Despite the perceived negative sentiment towards blockchain integration with gaming, the survey provides valuable insight into the awareness and sentiment of gamers towards these technologies. This information can be used by companies in the industry to better understand and address the concerns of their target audience.
Play to earn model trumps NFTs
As the popularity of NFTs and blockchain gaming continues to grow, it is likely that we will see more companies entering the market and offering innovative products and services. The future of gaming in the NFT industry looks promising, with opportunities for both gamers and companies to benefit from the increased use of blockchain technology.
Overall, the survey highlights the potential of blockchain and NFTs in the gaming industry and the need for companies to address the concerns and expectations of their target audience in order to succeed in this rapidly evolving space. This is especially true when considering the payment models associated with the novel play-to-earn model.
One solution may be to focus on an overarching token (like Bitcoin) that can serve as the basis for the blockchain gaming ecosystem, making it easy for new users to wrap their heads around the concept of pay-to-earn without the need to figure out every single NFT, it’s rarity, utility, and so on.
An example of such a gaming project is the Treasure Ecosystem which encompasses several games in its ecosystem while providing a single currency that links these separate games in a common economy, while still leveraging NFTs for items and characters.
