Survey Reveals Game Developers Hate NFTs and Cryptocurrencies

Survey Reveals Game Developers Hate NFTs and Cryptocurrencies

A recent survey revealed that most game developers and their studios have no interest in developing or working with non-fungible tokens (NFTs) or crypto payments.

The survey published by the Game Developers Conference on January 21, titled State of the Game Industry 2022, polled 2,700 game developers on their level of interest in NFTs and cryptocurrencies. The results were unfavorable for the players themselves, who have shown great interest in NFTs.

A resounding majority of respondents indicated that their study is “not interested” in cryptocurrency as a payment tool (72%) and “not interested” in NFTs (70%). Only 1% responded that they were already developing NFTs or already using cryptocurrencies as a payment tool.

Of the 14 published on NFTs and cryptocurrencies in the survey, only one was generally positive, while the others ranged from snippy to scathing. The only positive comment said: “It’s the wave of the future”.

Another respondent suggested that the entire NFT industry is problematic when he said:

I don’t understand how this hasn’t been identified as a pyramid scheme.

Other comments echoed concerns about the future state of the gaming industry if it embraces cryptocurrencies and NFTs.:

“They are going to drive a wedge into the heart of this industry. It’s going to be very clear what people’s motivations are, and it’s not going to be pretty.”

Currently, the NFT market is driven by dealers, collectors, and gamers. On OpenSea, the world’s largest NFT marketplace, transaction volume is driven by collectibles. Currently, Azuki’s collection has the highest seven-day trading volume on the platform at 27,163 ETH ($6.5 million).

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Decentralized application (dApp) games using NFT account for around $35 million in volume over the last 24 hours. That volume comes from about 867,000 users, according to DappRadar. According to Mordor Intelligence, when NFTs are more widely integrated into the $178 billion traditional gaming sector, they will reach more than 3 billion players worldwide.

Respondents also shared a generally negative outlook on metaverse games. Despite the fact that more than 12 companies are developing augmented reality (AR) and virtual reality (VR) devices for gamers to immerse themselves in games, the report states that “around a third of those surveyed believe that the concept of metaverse will never keep its promise”.

The software giant Microsoft recently announced the purchase of the gaming company Activision Blizzard for USD 95 per share. Microsoft has shown no such disdain for technology and plans to develop games designed to be played in the metaverse under its newly acquired brand..

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