Coda Labs Survey: People Want Change in Web3 Gaming and Crypto

In a survey carried out by Coda Labs, 6,921 people from five different countries were asked questions about their perceptions of crypto, NFTs and Web3 gaming. The results of the survey showed that there is a lot of interest in these areas, with ma[...]

The survey commissioned by Coda Labs suggests that traditional gamers are still yet to warm up to crypto or NFTs and have little interest in Web3 games. This is despite the huge amount of money being poured into Web3 gaming. It remains to be seen whether the traditional gaming community will eventually embrace these new technologies, or whether they will remain niche.

It's no surprise that gamers are hesitant to jump into the world of Web3 games. With so many unknowns and a lack of understanding about how these games work, it's no wonder that gamers are holding back. However, with the right education and guidance, gamers could be tapping into a whole new world of gaming that offers unique experiences and rewards. With the right support, Web3 games could be the next big thing in gaming.

As the world of gaming moves increasingly towards online and digital experiences, it's no surprise that the new frontier of Web3 games is also starting to gain traction. A recent survey found that 12% of non-crypto gamers have tried out these new games, while 15% of those who haven't tried them yet are interested in doing so in the future.

It is clear that the shift to Web3 games is well underway, with more and more people recognising the term "play-to-earn". This is a positive development, as it shows that people are beginning to see the potential of using cryptocurrency to earn rewards within games. This is just the start, however, and there is still much potential for growth in this area.

These findings suggest that gamers are more interested in playing a fun game than in the tokenomics associated with many Web3 games. This reinforces what many industry players have been saying recently – that gamers want to play games that are enjoyable, not just games that offer potential financial rewards. By considering both of these factors together, we can better understand the needs and desires of the gaming community, and create games that will truly be fun and entertaining for all.

Respondents’ perception of the main challenges associated with Web3 games. Source: Coda Labs.
The main challenges associated with Web3 games, according to respondents, are scalability and usability. Scalability refers to the ability of the game to handle large numbers of users and transactions, while usability refers to the ease of use for players.

The survey data shows that gamers who have played Web3 games tend to be positive about them. Traditional gamers rated the games at 7.1 out of ten, while gamers who are active within the crypto space rated them at 8.3. This suggests that Web3 games have the potential to be enjoyed by a wide range of gamers.

It is possible that the focus on P2E and NFTs within blockchain games is what is holding back mainstream adoption of this technology. This is according to Kevin Shao, executive president of the Asia Blockchain Gaming Alliance (ABGA), who spoke to Cointelegraph last week during Asia Crypto Week. Shao suggested that perhaps by shifting the focus away from these aspects, blockchain games could become more appealing to the masses.

As someone who is passionate about video games, I believe that the release of more "triple-A" titles can help shift gamers' perspectives of web3 games away from the P2E features and onboard people who are looking to play games purely for fun. I think this is an important step in furthering the acceptance and popularity of web3 games, and I hope to see more titles like Phantom Galaxies and Big Time in the future.

The survey, conducted in June 2022, received responses from 6,921 people across five different countries. The results of the survey will be used to help improve the quality of life for people around the world.

The survey found that respondents who play video games at least twice per month, have used a crypto wallet, traded via a decentralized exchange, or traded an NFT in the last 30 days are more likely to invest in cryptocurrency.

At WALR, we take pride in conducting surveys that comply with the Market Research Society's Code of Conduct. This code ensures that our data is collected ethically and responsibly, providing our clients with the highest quality information possible. We are committed to creating a platform that helps our clients make informed decisions based on accurate and up-to-date data.