A detailed report from Game7, a top decentralized community in the field, says that the blockchain gaming industry is going through big changes right now. This article talks about the problems small studios have, like not having enough money, and the differences in the blockchain gaming ecosystem between "AA" and "AAA" studios. It talks about how the competition between 53 gaming-focused blockchain networks is growing in 2023, with a focus on how the Ethereum Virtual Machine (EVM) continues to be the leader. The article also talks about migration trends, well-known ecosystems like Polygon, and Ethereum gaming tokens like Illuvium, Ronin, and Immutable, which shows how changing the industry is. Lastly, the article gives a brief overview of how trends will change in 2023, focusing on how the industry needs to be able to adapt and last in the face of financial problems, network competition, and strategic game migrations. In this comprehensive exploration of the blockchain gaming industry, Game7's report reveals a landscape marked by challenges, shifts, and emerging trends. Small studios face financial strains, with the report spotlighting the suspension of a significant number of blockchain games, particularly those initiated before 2021. The distinction between "AA" and "AAA" studios becomes apparent, with "AA" studios having funding between $10-25 million and "AAA" studios surpassing $25 million.A key trend is the intensifying competition among 53 gaming-focused blockchain networks in 2023, a notable increase from 37 in the previous year. The Ethereum Virtual Machine (EVM) remains the dominant choice, commanding a substantial 74% market share. This dominance is noteworthy, especially considering the emergence of other platforms like Solana, which secures a distant second place with a mere 10% market share.Migration trends across blockchain networks are on the rise, with 65 blockchain games anticipated to switch networks by 2023. Ecosystem preferences become apparent, with Polygon leading the way, followed by Binance's BNB Chain and Ethereum's mainnet. Developers, including Reinhardt Weyers and Pirate Nation, cite reasons for migrations, such as cost savings and addressing scalability issues.The article also highlights Ethereum gaming tokens that are gaining popularity within the industry. Illuvium, Ronin, and Immutable emerge as notable examples, demonstrating the growth and significance of these tokens. Mirai Labs' approach to creating custom blockchains underscores the strategic decisions made by studios to navigate the evolving landscape of blockchain gaming.In the broader context, the report summarizes the industry's future, emphasizing the interplay of financial challenges, network competition, and strategic game migrations. Despite the hurdles faced by small studios, the rise of Ethereum gaming tokens and the trend of studios creating custom blockchains showcase the industry's resilience and adaptability. The blockchain gaming industry stands at a crossroads, driven by the imperative to be sustainable and flexible in the face of evolving dynamics, making it a fascinating and dynamic space to watch in 2023 and beyond.
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