Is Web3 Gaming a Dead End or Evolving into Something Interesting?

Is Web3 Gaming a Dead End or Evolving into Something Interesting?

This IDC Market Note sizes and assesses trends in the Web3 gaming space in 2023 and offers insight into how 2024 should develop. The aim is to discern whether there's evidence that vendors in and around the gaming industry should invest in the Web3 gaming space in the near term. "Web3 gaming is a niche phenomenon in the context of the broader gaming industry despite some recent user base growth. It's currently difficult to see how Web3 gaming will become a phenomenon that excites many people outside the hardcore blockchain and crypto community, although a sharp rebound in crypto valuations may change that. Some Web3 games are testing interesting and novel growth strategies, but through 3Q23 at least, none of these games have generated an explosion in gamer interest or spending." — Lewis Ward, director of Gaming, eSports, and VR/AR at IDC

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