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The Blockchain Game Alliance (BGA) released its 2025 State of the Industry Report. The new data shows major shifts in blockchain gaming demographics, growth drivers, and the challenges the sector continues to face.
What is the BGA State of the Industry Report
The BGA State of the Industry Report is an annual publication from the Blockchain Game Alliance that gathers insights from professionals working in blockchain gaming. It tracks industry sentiment, global participation, growth drivers, challenges, and emerging trends based on survey responses and expert interviews.
The report has been released every year since 2021. It serves as a barometer of where the blockchain gaming industry stands and where it is heading, it covers areas such as:
- industry confidence and economic outlook
- demographic shifts and regional growth
- technology trends including AI and stablecoins
- business models and game development priorities
- threats to credibility and operational challenges
The 2025 survey ran from August to October and, for the first time, was offered in multiple languages, English, Arabic, French, Spanish, Portuguese, and Japanese, to make participation more inclusive.
Key Highlights of 2025 State of the Industry Report
Respondent Demographics
According to the report, participation from the Middle East and North Africa surged to 19.8%, up from just 1% in 2021. It noted that the results reflected the region’s growing influence in web3 gaming.
Results for other regions:
- Europe: 26.7% (remains the largest region, but at its lowest recorded share).
- Asia: 24.5% (down from a peak of 55.4% in 2022).
- South America: 11.9% (steady growth from just 1.4% in 2022).
- North America: 11.7% (remains relatively stable year-over-year).
- Africa: 5.5% (up from 0.5% in 2021).
In addition, in 2025, women accounted for 22.7% of all respondents, rising from 17.3% in 2024, 16.9% in 2023, 19.0% in 2022, and 20.3% in 2021.
“The steady rise in female participation marks a change in the composition of the BGA’s community, reflecting broader industry engagement and the impact of the organization’s ongoing efforts to cultivate more inclusive professional networks.”
Blockchain Game Alliance
Conversely, male dominance in the sector has softened. After peaking at 81.9% in 2024, male participation dropped to 76.9% this year. The survey also noted a decline in non-binary respondents, who now make up just 0.4% of the sample, down from 2.3% in 2021.
On the other hand, the report grouped several respondent categories to simplify analysis, with studios and publishers combined into a single category representing 32.6% of respondents. It also highlighted declines in guild leaders and esports professionals, alongside growth in the combined “Unemployed/Other” category.
- Studios and publishers (combined): 32.6%
- Blockchain studios: 18.0%
- Mixed-model studios: 10.3%
- Traditional studios: 4.3%
- Guild leaders and esports professionals: 7.9% (declined from 20.7% in 2022)
- The “Unemployed/Other”: 9.5% (6.4% in 2024)
BGA noted that for this year, the “Other” category in the report included mostly non-gaming blockchain organizations, such as decentralized autonomous organizations (DAOs), incubators, and early-stage startups in sports, DePIN, fintech, augmented reality, and memecoin sectors, as well as a non-profit donations platform. Students and government officials were also grouped in this category, reflecting growing interest in blockchain gaming from adjacent web3 and emerging-technology sectors.
The report is based on 506 valid responses from industry professionals, filtered down from 598 total submissions to ensure completeness.
Industry Drivers
In the 2025 BGA State of the Industry Report, 64.4% of respondents said they expect policy and regulation to positively influence blockchain gaming. The report noted that this sentiment signals industry optimism that clearer legal frameworks could support growth, reduce risks, and attract mainstream investment.
Moreover, the report also identified high-quality game launches, sustainable business models, and stablecoin adoption as the key drivers of blockchain gaming growth. The report also highlights innovation and player experience, while traditional factors like web2 studio adoption and speculative market trends have declined in importance.
Results in numbers:
Top Industry Drivers
- High-Quality Game Launches (29.5%): Strong gameplay and production values are seen as the main catalyst for mainstream adoption.
- Sustainable Business Models (27.5%): Shift toward revenue-driven models like in-app purchases and subscriptions instead of volatile tokenomics.
- Stablecoin Adoption (27.3%): Stablecoins are considered key for familiar and reliable payment methods.
Innovation & User Experience
- Interoperability (26.1%): Cross-game and cross-chain asset integration.
- AI Integration (25.9%): Use of AI in design and operations.
- Creator Economies (25.5%): Player-driven content and UGC.
- Seamless Onboarding (25.3%): Frictionless, user-friendly experiences.
Secondary Factors & Declining Trends
- Esports (22.7%): Competitive tournaments remain a key engagement gateway.
- Traditional Studio Adoption (17.2%): Reliance on Web2 publishers has dropped significantly from prior years.
- Regulatory Clarity (16.6%): Policy remains relevant but less influential.
- Economic Stability (15.6%): Stability in tokenomics and virtual economies.
- Market Cycles (10.9%): Speculative crypto trends are now among the least cited drivers.
Industry Challenges
The report highlighted credibility, operational, and technology risks as the sector’s top concerns.
Threats
Scams, fraud, and rug pulls were cited by 36.0% of respondents as the greatest threat to industry credibility, followed by Ponzi-style economic models at 12.6%.
Poor-quality games, 20.4%, were also highlighted as a major reputational risk, while smaller shares noted over-financialized gameplay loops, regulatory uncertainty, market volatility, and misconceptions about blockchain.
“Together, these findings indicate that perceptions of financial risk, whether from outright fraud or flawed economic structures, remain the industry’s most persistent barrier to trust.”
Blockchain Game Alliance
Other concerns:
- Over-financialized Loops: 5.3%
- Regulatory Uncertainty: 5.5%
- Overdependence on Crypto Market Cycles: 5.9%
- Blockchain Misconceptions: 5.9%
- Bots and Inauthentic Activity: 5.1%
- Studio Shutdowns: 1.4%
- Environmental Impact: 1.2%
Individual Challenges
According to the report, blockchain gaming companies are facing operational pressures, particularly funding constraints, which impact development and growth.
While studios see capital shortages as a major challenge, the broader industry is driven more by sustainability, product quality, and durable business models. Reduced access to funding has accelerated the shift toward revenue-focused models, tighter cost control, and earlier market validation to build products that retain players without relying solely on token incentives.
Top Operational Challenges for Companies
- Funding & Investment Constraints: 32.6%
- User Acquisition: 27.1%
- User Retention: 24.9%
- Marketing & Brand Awareness: 20.0%
- Community Building: 17.8%
Other Operational & Technical Challenges
- Crypto Volatility: 15.8%
- FUD (Fear, Uncertainty, Doubt): 15.6%
- Talent Acquisition: 11.7%
- Lack of Collaborators/Advisors: 11.5%
- Technical Limitations: 10.3%
- Tokenomic Design Challenges: 9.9%
- Legal, Regulatory, & Compliance Issues: 9.5%
This article is published on BitPinas: Key Takeaways: Blockchain Game Alliance 2025 State of the Industry Report
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