Most gamers have no idea what WEB – 3.0 is and still prefer traditional video games

For years, playing video games was easy. All you had to do was turn on your computer or console, download the game of your choice, and enjoy playing it. Recently, however, new terms – Web3 games, Play-to-Earn, GameFi, NFT, and others – have entered the lexicon of gamers. They have made games more interesting, but they have also made them much more complicated.

Users of blockchain games can own in-game assets, receive rewards in cryptocurrencies, and participate in a decentralized game economy. Unlike regular server-based games, they have no single point of failure. And goods, services and trading assets can be bought and sold on a decentralized secondary market.

In words, it’s all very cool. However, a Coda Labs survey of nearly 7,000 gamers found not everyone is excited about Web3 games. To participate in the Global Web3 Gamer Study, potential respondents had to play video games at least twice a month and perform at least one cryptocurrency action – such as buying or selling non-exchangeable tokens (NFTs).

According to the findings, half of gamers are not familiar with any Web3 gaming terms. 12% of respondents had tried playing blockchain games, but only 15% of the remaining number said they were interested.

The key drawback most respondents cited was the complexity of the Web3 world. Thus, only 6% of gamers have ever used a cryptocurrency wallet or bought an NFT.

In order to develop this direction, blockchain game creators need to move away from “poncinomics” first and foremost. The model in which early adopters profit from investments by new entrants is extremely unstable and requires constant growth, which is very difficult to sustain.