According to a survey by the Blockchain Game Alliance, 42% of participants believe that the model of rewarding players is the biggest advantage in attracting new users. However, as the GameFi industry develops, Blockchain games will face many challenges in 2025.
Tobin Kuo, CEO of Seraph, shared in an interview with Cointelegraph that maintaining player engagement, adopting new technologies, and building a sustainable in-game economy are the obstacles that GameFi needs to overcome to maintain competitiveness.
Tobin pointed out that more than 60% of players will leave Web3 games within 30 days. He believes that the lack of long-term incentives and poor game mechanics are the main reasons why Web3 games struggle to maintain growth. He shared:
"As the attention economy accelerates, projects must prioritize player-centric design, focus on compelling narratives, skill-based rewards, and game mechanics that go beyond the 'profit-first' model, rather than relying on trends to attract attention."
By 2025, the development of better Blockchain games will also require the integration of emerging technologies, such as AI-generated content, to enhance the player experience. Tobin noted that GameFi projects that fail to timely adopt new technologies often see a 30%-40% drop in player retention rates.
Building a Sustainable In-game Economy
Tobin emphasized:
"An unstable in-game economy is the primary cause of the failure of projects."
He believes that building a sustainable token model for Web3 games, controlling inflation, and basing rewards on player data are the keys to maintaining player engagement.
He further explained:
"Dynamic item distribution, Staking-based rewards, and player-controlled economic strategies through decentralized autonomous organizations (DAOs) could become the standard in GameFi development."
For example, the clicker game Hamster Kombat gained attention in July with over 300 million users in less than 5 months. However, after the largest Airdrop in crypto history, the number of players dropped by 86%. As of November, the game only had 41 million players, compared to the peak of 300 million in the summer.
The State of the Blockchain Gaming Industry in 2024
The Blockchain Game Alliance has just released the "2024 Industry Report", surveying 623 Web3 gaming experts.
The report shows that about 53% of participants believe that poor user experience and complex interfaces are the biggest challenges hindering new players from entering Web3 games.
Key Issues in the GameFi Industry (Source: Blockchain Game Alliance):
- Poor User Experience: 33% consider this one of the top three challenges currently.
- Complicated Crypto Wallets: 10% of users abandon due to difficulties in setting up wallets.
At the Blockchain Futurist conference in August, Long Do, CEO of Anomaly Games, stated that "hiding Blockchain functionality so players interact unconsciously" is the key to driving adoption.
Additionally, the OnePoll 2024 survey of over 2,000 adults showed that most players are not knowledgeable about Blockchain games:
- 52% have never heard of Blockchain games.
- 32% have heard of them but have never played.
Conclusion
The GameFi industry is rapidly evolving, with changing player demands and market competition, requiring developers to continuously innovate and optimize. By 2025, maintaining player engagement, adopting new technologies, and establishing a sustainable economic model will be the critical factors determining the success or failure of GameFi projects.
