In 2023, the nascent blockchain gaming industry continued to grow and more polished experiences saw the light of day—but progress moved at a slower pace than in 2022.

Blockchain gaming saw $1.4 billion in investments between May and November 2023 alone, but the broader gaming industry has continued to see a decline in both the number of investments and lower deal values, according to Pitchbook data. 

The overwhelming majority of blockchain games are indie or mid-size projects, with AA and AAA funding levels only making up 6% of the market, per a Game7 report. This year, half of all new blockchain games are based in Asia and the total number of gaming-focused blockchains has grown 84% year-over-year, Game7 found.

This year, Pitchbook dubbed blockchain gaming “forgotten but not gone” in its Q3 Gaming Report this year, arguing that while the initial hype cycle for such games has evaporated, some “significant titles” remain in development.

But what might 2024 have in store?

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Author: Kate Irwin

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