We’re excited to share our newly released 2024 State of Web3 Gaming Report, packed with insights into the evolving crypto gaming world. This in-depth analysis draws on data from over 2,500 blockchain games, 1,500 funding rounds, and 100 blockchain ecosystems, offering a comprehensive view of Web3 gaming trends and developments.

We remain committed to advancing the Web3 gaming ecosystem through meticulous, unbiased research. Our mission: deliver intellectually honest, objective, and credibly neutral insights that empower builders to innovate with confidence. 

→ Telegram emerged as a key Development Platform for Web3 Games. Telegram has captured 21% of new Web3 game launches in 2024. Publishers are utilizing the messaging app for user acquisition, while traditional mobile gaming faces challenges from restrictive app store policies and regulatory uncertainties.

→ Immutable and Arbitrum ecosystems grew the most over the past 12 months. Immutable leads with 181 announced titles (71% YoY growth), capturing 33% of games migrating from Polygon. Arbitrum achieved 68% YoY growth to 119 titles, driven by the Orbit Framework powering 23 new eb3 gaming networks.

→ APAC teams have added 39% of new Web3 games in 2024, followed by North America with 36%. US-based teams account for 27% of all Web3 games, with South Korea and Singapore contributing 11% and 7%, respectively.

→ For another year, interest in new gaming chains outpaced the games themselves. By Q3 2024, 104 new blockchain networks were announced alongside 252 new Web3 games - highlighting the trend of favoring infrastructure launches over new content development. While new game announcements decreased 36% from 2023, there was an 84% reduction in teams exiting Web3 or ceasing development.

→ Most Web3 gaming ecosystems face development and integration challenges. This is reflected in the disparity between the number of game announcements, games with playable content, and games with a live Web3 integration. Only 45% of Web3 games are in a playable state, and just 34% have integrated with blockchain infrastructure.

→ Epic Games Store added 81 new Web3 titles in 2024 while Steam maintains restrictions, forcing developers to create modified versions and explore alternative distribution channels. Console gaming shows early signs of change, though Sony and Microsoft's stance remains uncertain. Developers are mainly targeting console audiences without incorporating blockchain features, with a primary focus on user acquisition.

→ In 2024, over 90% of launches came from indie teams, with very few AA or AAA titles entering the market. RPGs (20%), casual (17%), action (14%), and strategy (14%) genres lead new Web3 game announcements this year.

→ Until Q3, funding grew by 17% YoY, shifting toward smaller, strategic rounds. Gaming token launches increased 200% YoY, with game titles accounting for 74%, though still below 2021 peaks. Funding remains constrained by the lack of a new "Axie moment" and macroeconomic uncertainty.

→ The report also highlights the methodological challenges of current blockchain gaming metrics and proposes alternative approaches focusing on developer activity and ecosystem infrastructure.