Every year, the Blockchain Game Alliance (BGA) collaborates with Emfarsis to conduct a survey of blockchain gaming professionals. This year, 71.1% of respondents ranked digital asset ownership as the industry’s most significant advantage brought by blockchain technology. Despite having tripled the number of participants since the initial survey in 2021, the majority of professionals continue to view digital asset ownership as the industry’s North Star.However, while blockchain gaming advocates tout digital asset ownership as a defining feature, most blockchain games currently operate on a free-to-play model that doesn’t necessarily require asset ownership.
Furthermore, promised benefits based on digital asset ownership remain largely unrealized. The paradox here is that blockchain gaming professionals find themselves in a predicament where they extol digital asset ownership as the industry’s defining characteristic yet struggle to make it a compelling selling point for gamers.Digital asset ownership has historically been central to blockchain gaming, offering players true digital property rights through tokens and NFTs.
This concept dates back to play-to-earn’s heyday in 2020-21, where owning an NFT was essential for participating in a game economy. However, this led to barriers to entry due to the initial cost of purchasing an NFT, limiting the potential player base.To address this issue, blockchain games began adopting a free-to-play model that downplayed the importance of digital asset ownership.
While this helped attract a wider audience, it also led to a dilution of the potential impact of digital asset ownership on the overall gaming experience.Furthermore, the rental system popular in early blockchain games like Axie Infinity, Pegaxy, CyBall, and others failed to effectively bridge the gap between onboarding new players and providing sufficient opportunities for them to earn through their assets.
The limited availability of assets and high entry costs continued to create friction in user acquisition.In 2022, blockchain games shifted towards embracing the free-to-play model, treating blockchain-based features as optional enhancements rather than requirements for playing the game. This move aimed to broaden the appeal of blockchain gaming beyond its initial niche audience.
However, it also raised questions about the extent to which blockchain technology can meaningfully transform traditional gaming experiences.Despite these challenges, there have been notable advancements in the realm of digital asset ownership within blockchain gaming. Recent innovations like ERC-6551, ERC-4337, ERC-404, and soulbound tokens (SBTs) introduce new possibilities for player autonomy and interaction within the context of digital asset ownership.
These developments hold significant potential for unlocking unique gaming experiences that leverage the power of blockchain technology.However, to realize this potential, blockchain gaming must strike a balance between showcasing the value of digital asset ownership and prioritizing player engagement and enjoyment.
By creating compelling gaming experiences that organically reveal the benefits of digital asset ownership, the industry can overcome its current challenges and establish itself as a viable force within the broader gaming landscape.
Source