Fandom’s State of Gaming Study in 2022 Reveals Gamers Are Not Sold on NFTS

Fandom, the world’s largest fan platform, has unveiled its 2022 State of Gaming report, delving into two of the hottest topics, trends and issues facing the gaming industry: NFTs and the Metaverse.

Fandom is part of Val Morgan Digital’s family of properties in Australia, delivering 18 million Australian sessions across 17 million pages of content across more than 100,000 gaming communities.

Pairing Fandom’s robust, proprietary data with a custom global study, Fandom puts the game industry’s biggest topics to the test by examining real consumer behavior and the real fan POV.

The survey’s key findings reveal that gaming consumers have a negative perception and mistrust of NFTs, with only 7% believing it to be an important part of the gaming landscape. There is an industry misconception about gamers and the metaverse. Brands need to meet fans where they are – on specific games and platforms like Fortnite, Minecraft and Roblox and create smart brand environments that contribute to the fan experience in a meaningful way.

Fandom’s State of Gaming: NFTs exposes a significant discrepancy between what the industry, brands, and marketers think is important to game fans regarding NFTs — and what consumers really want.

Stephanie Fried, CMO of Fandom, said consumers are responding to limited use cases for NFTs that have dominated headlines.

When they got benefits without the NFT label around them, opinions were much more positive – suggesting that NFTs with education (and maybe some rebranding) could provide value to gamers.

  • Key findings:
    • In general, NFTs have an overwhelmingly unpopular perception among gamers, and the vast majority consider them unnecessary. In fact, only 7% of consumers consider NFTs an important part of the gaming landscape.
  • The majority (72%) have a very negative perception of NFTs because they: Unwise investments monetary (46%), Unknown risks (i.e. long-term value, buy/sell potential, unverified assets, etc.) (40%) Still too new from a draft (35%)
  • There is also a significant knowledge gap: only 67% of consumers have basic or no understanding of NFTs, and only 9% of gamers own NFTs.
  • • But – once users saw the potential benefits of NFTs in the gaming space without the associated NFT label, the perception changed. Fans told us they are most interested in the following opportunities NFTs can bring to gaming:
    o Players can create their own items that are accessible to all players in the game (47%)
    o Earn unique items to use in-game (37%)
    o Have transferable items between games (32%)

Fandom discovered several misconceptions about the metaverse, as well as a fundamental misunderstanding of how advertisers and brands have traditionally played in this space versus how consumers really want them to appear.

The metaverse allows fans to socialize, compete and explore a world unlike their own. Although players have adopted the concept, this does not mean that all brands have to go green with metaverse solutions.

Anthony Iaffaldano, VP Sales Marketing & Insights, said: “Instead of broadly targeting a “metaverse strategy,” brands should meet fans where they are — on specific games and platforms like Fortnite, Minecraft, and Roblox — and create smart brand environments. that contribute to the fan experience in a meaningful way.”

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