More Evidence Game Developers Hate NFTs and Crypto

A recent survey revealed that most game developers and their studios have no interest in developing or working with non-fungible tokens (NFTs) or crypto payments.

The survey released by the Game Developers Conference on January 21 titled State of the gaming industry 2022 surveyed 2,700 game developers about their level of interest in NFTs and cryptocurrency. The results were less than favorable for the gamers themselves, who showed great interest in NFTs.

An overwhelming majority of respondents indicated that their studio was “not interested” in cryptocurrency as a payment tool (72%) and was “not interested” in NFTs (70%). Only 1% responded that they already develop NFTs or already use cryptocurrency as a payment tool.

Of the 14 developer NFT and crypto comments posted in the survey, only one was generally positive, while the rest ranged from backhanded to scathing. The only positive comment said “This is the wave of the future”.

Another respondent implied that the whole NFT industry is problematic when he said:

How this didn’t get identified as a pyramid scheme is beyond me.

Other comments echoed concerns about the future state of the gaming industry if it embraces crypto and NFTs:

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

The NFT market is currently driven by traders, collectors, and gamers. On OpenSea, the largest NFT market in the world, trading volume is driven by collectibles. Currently, the Azuki Collection has the highest seven-day trading volume on the platform at 27,163 ETH ($6.5 million).

Decentralized application (dApp) games that use NFTs account for approximately $35 million in volume in the last 24 hours. This volume comes from around 867,000 users according to DappRadar. According to Mordor Intelligence, when NFTs are integrated more widely into the $178 billion traditional gaming industry, they will reach more than 3 billion gamers worldwide.

Respondents also shared a generally negative view of metaverse gaming. Although more than 12 companies are currently developing augmented reality (AR) and virtual reality (VR) devices for gamers to immerse themselves in games, the report states that “about one-third of respondents believe that the concept of metaverse will never deliver on its promises. ”

Related: Blockchain metaverse ecosystems are gaining momentum as brands create digital experiences

Software giant Microsoft recently announced that it has bought the gaming company, Activision Blizzard, for $95 a share. Microsoft has shown no such disdain for the technology and plans to develop games designed to be played in the Metaverse with its newly acquired brand.

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