APAC Leads in Web3 Game Development Teams While US Leads in Funding: Web3 Gaming Study
In Brief
A recent report by web3 game DAO Game7 shows Asia-Pacific and North America leading in web3 gaming developments.
A recent report independently curated by web3 gaming Decentralized Autonomous Organization (DAO) Game7, provides a comprehensive analysis of the evolving web3 gaming landscape.
Delving into the web3 gaming aspects, including gameplay trends, blockchain networks and competitive dynamics, the report provides insights into the future trajectory of the sector for game developers, investors, blockchain enthusiasts.
The report reflects the current statistics of the Asia-Pacific and North America region as leaders in web3 game development:
- The Asia-Pacific (APAC) region is at the forefront of web3 game development (40%) the game developers. This dominance showcases the region’s pivotal role in driving innovation and growth in the sector.
- Following closely, North America claims 30% of Web3 game developers. The competitive landscape in North America, particularly in the USA, contributes significantly to the global ecosystem.
- Half of the new web3 games introduced this year originated from Asia. This statistic underscores the region’s robust commitment to pushing boundaries and shaping the future of web3 gaming.
- The USA continues to maintain momentum in the web3 gaming arena, with a substantial contribution of 30% to the influx of the new arena’s teams in the current year.
Moreover, the report shows that collaborative efforts and initiatives stemming from both the Asia-Pacific and North America are pivotal in propelling web3 gaming to new heights.
As these regions continue to lead, their contributions are likely to shape the global narrative of the sphere’s innovation, offering exciting prospects for the future of this industry.
Web3 Gaming Investments Continue to Grow Globally
The web3 gaming sector has experienced a compelling journey of investment in 2021. It was marked by a surge that echoed pre-bull market levels — growing to $19 billion since 2018.
Despite a market correction in 2022, the web3 gaming market has showcased resistance and continued growth. In 2023, blockchain gaming-related funding reached $1.5 billion by Q3, with more than $800 million exclusively allocated to the sector.
The financial support is distributed across various global regions, with the USA leading with over $4 billion in funding. This is followed by France, Canada, Singapore and Hong Kong.
In terms of genre division, sports, MMOs, RPGs and action games have been collectively attracting funding totaling $3 billion since 2018.
The diversification in funding across genres reflects the dynamic nature of the sphere, with different gaming experiences finding robust financial backing, contributing to the sector’s sustained growth and evolution.
Distribution Challenges Amidst Blockchain Preferences
A notable challenge is that 6 out of 10 Web3 games find themselves excluded from mainstream distribution platforms. This highlights an existing gap between traditional distribution channels and the evolving Web3 gaming landscape.
Unity and Unreal Engine overwhelmingly dominate Web3 PC game development, commanding a 95% share. This duopoly showcases the influence of these engines in shaping the technical aspects of Web3 gaming.
Game7 said that the information provided in the comprehensive report aims to empower developers, facilitating informed decisions during the crucial development phase of Web3 gaming.
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About The Author
Anya is a seasoned IT writer with a passion for exploring cutting-edge topics in the tech industry, including generative AI, Web3 gamification, and large language models (LLMs). Holding a degree in interpretation, she possesses a unique blend of linguistic expertise and technical acumen. Her inquiring mind and extensive experience allow her to navigate the ever-evolving landscape of technological innovation. Anya is dedicated to uncovering insights and trends across diverse language segments of the Internet, bringing a visionary perspective to her work. Through her articles, she aims to bridge the gap between complex IT concepts and a global audience, making technology accessible and engaging for readers worldwide.
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Anya is a seasoned IT writer with a passion for exploring cutting-edge topics in the tech industry, including generative AI, Web3 gamification, and large language models (LLMs). Holding a degree in interpretation, she possesses a unique blend of linguistic expertise and technical acumen. Her inquiring mind and extensive experience allow her to navigate the ever-evolving landscape of technological innovation. Anya is dedicated to uncovering insights and trends across diverse language segments of the Internet, bringing a visionary perspective to her work. Through her articles, she aims to bridge the gap between complex IT concepts and a global audience, making technology accessible and engaging for readers worldwide.
