Telegram is establishing itself as a major platform for Web3 gaming, with 21% of new game launches in 2024 taking place on the messaging app, according to the latest State of Web3 Gaming report from Game7 and research firm Naavik. Developers and publishers are increasingly turning to Telegram for user acquisition and engagement, suggesting it may become a viable alternative to traditional mobile platforms like Apple and Google, which continue to face regulatory challenges and restrictive app store policies.
Layer 2 Leaders: Immutable and Arbitrum Excel in Web3 Gaming
Immutable and Arbitrum lead as the fastest-growing Web3 gaming ecosystems, according to the report. Immutable saw a 71% growth year-over-year, with a significant portion of its 181 new titles transitioning from Polygon. Meanwhile, Arbitrum’s Orbit Framework has driven a 68% growth, supporting 23 new gaming networks. The rise of Layer 2 and Layer 3 networks is becoming standard in blockchain gaming as these platforms enhance scalability and user experience.
Regional and Platform Dynamics in Web3 Game Development
The report highlighted Asia-Pacific regions, including South Korea and Singapore, as leaders in Web3 game development, responsible for 39% of new launches. The U.S. follows closely at 36%. Despite an overall 36% decline in game announcements from 2023, developer exits dropped by 84%, indicating increased stability within the industry. Still, only 34% of games integrate blockchain features, suggesting that bridging the gap between gaming and blockchain technology remains challenging.
The Epic Games Store has added 81 Web3 games in 2024, while Steam’s restrictive stance on blockchain games continues, pushing developers toward alternative platforms. Console gaming also shows early signs of blockchain adoption, although major companies like Sony and Microsoft remain cautious, with most console-focused games not yet integrating blockchain functionality.
Funding and Industry Trends: 17% Growth in 2024
Funding for Web3 gaming rose by 17% year-over-year by Q3 2024, with smaller, strategic rounds focused on token launches. However, the industry continues to be impacted by macroeconomic uncertainties and the lack of a breakout game on the scale of “Axie Infinity.” Gaming token launches have surged by 200% year-over-year, with game titles accounting for 74% of these launches.
“Game7 is committed to maintaining high standards of data integrity and trend accountability in the Web3 gaming space,” said Steven Chen, Core Contributor at Game7. The report also emphasizes the need for accurate industry metrics, as traditional wallet activity and on-chain data may not fully capture user engagement.
“Understanding Web3 gaming’s evolving dynamics is key to empowering the next generation of leaders in this space,” added Aaron Bush, Co-Founder of Naavik.
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