Stablecoins break into top 3 growth drivers for Web3 gaming: BGA 2025 report

cointelegraphPublished on 2025-12-10Last updated on 2025-12-10

Abstract

According to the Blockchain Gaming Alliance's 2025 report, stablecoin adoption has emerged as a top-three growth driver for Web3 gaming for the first time, alongside high-quality game launches and revenue-driven business models. This reflects a shift away from speculative token cycles and reliance on major Web2 brands, indicating the industry's growing focus on fundamentals, sustainable infrastructure, and commercially viable games. The report highlights a five-year evolution in developer priorities, moving from external catalysts like play-to-earn hype to improved user experience and now to polished gameplay and stablecoin-integrated payment systems. Stablecoins are seen as crucial for enabling frictionless, fiat-like transactions in game economies. Additionally, dependence on traditional gaming publishers has significantly decreased, with interoperability, AI integration, and creator economies gaining prominence.

Blockchain game builders are increasingly prioritizing fundamentals and infrastructure over token-fuelled growth cycles, with stablecoin adoption emerging as one of the top three catalysts for the first time, according to the latest report from the Blockchain Gaming Alliance (BGA).

On Wednesday, the BGA published its 2025 State of the Industry Report, which shows a shift in what builders believe will drive success in blockchain gaming.

According to the report, the top three growth drivers were high-quality game launches (29.5%), revenue-driven business models (27.5%) and stablecoin adoption in payments (27.3%).

The findings suggest the industry is stepping back from speculative cycles and reliance on big Web2 brands and instead prioritizing commercially viable games built on Web3-native transaction rails.

“What we’re seeing in the data is an industry becoming more global, more disciplined, and more focused on building great games for real players,” said Sebastien Borget, the co-president of the BGA and co-founder of The Sandbox.

Key factors that are perceived to drive the growth of the blockchain gaming industry. Source: BGA Survey

How blockchain gaming drivers have evolved in the last five years

The report reflected a notable five-year evolution in what blockchain gaming builders believe will move the sector forward.

From 2021 to 2023, survey participants heavily favored external catalysts, which include play-to-earn (P2E) hype and hopes that major Web2 publishers would validate the sector’s legitimacy by getting involved.

By 2024, sentiment shifted over to improving user experience, accessibility and onboarding after friction and repetitive game loops stalled Web3 gaming adoption.

This year, the survey suggested further maturity. Developers increasingly tied success to polished gameplay, sustainable monetization and infrastructure that supports spending.

Stablecoins, long a core component of decentralized finance, are now seen as instrumental to game economies, the report said.

It also suggests that frictionless payment experiences, similar to fiat, could contribute to the success of Web3 games.

Related: Animoca, Solv to help Japanese Bitcoin companies generate yield

Waning dependence on Web2 gaming giants

The survey also shows a sharp drop in perceived reliance on traditional gaming giants. Only about 17.2% of respondents now view legacy publishers as key growth catalysts, down from 35.8% in 2024.

Instead of this, interoperability (26.1%), artificial intelligence integration (25.9%) and player-driven creator economies (25.5%) followed closely behind the top three drivers.

Developers’ growing focus on stablecoin rails mirrors broader policy momentum.

Regulatory frameworks for stablecoins are advancing rapidly worldwide, with the United States leading the way with the GENIUS Act and Europe implementing its Markets in Crypto-Assets (MiCA) framework.

Magazine: Koreans ‘pump’ alts after Upbit hack, China BTC mining surge: Asia Express

Related Reads

Will the Next Crypto Bull Run Start with On-Chain Trading of SpaceX?

This article presents a scenario-based forecast for the crypto industry from 2026 to 2029, arguing that the next major cycle will be driven not by technological narratives but by legal access to real-world assets. The author predicts that by mid-2026, pre-IPO perpetual contracts for top private companies like SpaceX, OpenAI, and Anthropic on platforms like Hyperliquid will become the primary gateway for accessing quality assets, as most crypto-native tokens fail to capture real value. The much-hyped AI x Crypto intersection largely fails except for prediction markets, which thrive on betting on AI model supremacy. By 2027, public blockchain foundations are forced to choose between catering to retail speculation or building compliant infrastructure for institutions, with many opting for the latter. Growth in stablecoins and tokenized private credit/equity hits a "triple ceiling" due to regulatory and political uncertainty rather than market demand. The pivotal shift is forecast for 2028. A major liquidation event in pre-IPO perpetuals exposes the structural flaw of synthetic markets lacking a real underlying asset anchor. In response, regulatory changes finally allow the public solicitation of private securities resales to verified accredited investors. This creates a legitimate secondary market for real company equity, which then becomes the core asset class of the new bull market, relegating synthetic perps to a niche role. By 2029, the industry becomes "boring" but foundational. Tokens without claims on real cash flows or assets cease trading. Stablecoin growth is steady but politically capped. Crypto infrastructure fades from view as it gets absorbed into traditional finance backends. The article's central thesis is that the key bottleneck for crypto's next phase is legal and regulatory channels for real asset ownership, not technology.

marsbit1h ago

Will the Next Crypto Bull Run Start with On-Chain Trading of SpaceX?

marsbit1h ago

Kalshi-CFTC Fight In New Mexico Could Shape Prediction Market Rules

A jurisdictional battle between the U.S. Commodity Futures Trading Commission (CFTC) and the state of New Mexico over the regulation of prediction markets could set national rules for the industry. At issue is who polices platforms like Kalshi, with the CFTC asserting federal oversight and New Mexico arguing state gaming and consumer protection laws apply, especially for contracts resembling wagers on events like elections or sports. The outcome will determine if prediction markets can scale nationally under a clear federal framework or face a fragmented, state-by-state regulatory landscape. This dispute is significant for the crypto-adjacent trading community, which often engages with these speculative event markets. A clearer rulebook could boost mainstream adoption, liquidity, and integration with crypto infrastructure, while a state-led challenge could stifle growth. The case is particularly sensitive for sports-related contracts, where the line between financial markets and gambling blurs. Ultimately, this legal fight will shape whether prediction markets become a scalable national product or remain constrained by jurisdictional conflicts.

bitcoinist2h ago

Kalshi-CFTC Fight In New Mexico Could Shape Prediction Market Rules

bitcoinist2h ago

The Value Distribution of Stablecoins

**Summary: The Value Distribution of Stablecoins** The article argues that stablecoins are evolving from mere trading tools into broader channels for dollar access. It divides the stablecoin ecosystem into four layers to analyze how value is distributed: 1. **Issuance Layer:** Mints stablecoins, holds reserve assets, and captures the spread between reserve yield and user costs (e.g., Tether, Circle). This layer currently earns the largest profit margin. 2. **Infrastructure Layer:** Connects stablecoins to the traditional financial system, handling fiat on/off-ramps, banking integration, compliance (KYC/AML), and asset management (e.g., Bridge, BVNK). This is the "unglamorous" but critical work, building the essential bridges between crypto and real-world finance. 3. **Acquiring/Distribution Layer:** Integrates stablecoins into merchant systems, manages payment flows, and provides enterprise financial software (e.g., Stripe, Coinbase). They act as the access point for businesses. 4. **Application Layer:** The end-users and businesses that ultimately use stablecoins for payments, settlements, or as a store of value. They benefit from convenience but have little pricing power. The core thesis is that while the issuance layer currently dominates profits, the often-overlooked **infrastructure layer holds significant long-term potential**. The real challenge and barrier to mass adoption is not the on-chain transfer of stablecoins (which is simple), but the complex "last mile" integration into existing business workflows, banking systems, and regulatory frameworks across different countries. Companies in this layer are currently in a "land grab" phase, investing heavily to build networks, secure bank partnerships, and establish compliance pathways. While their position is currently pressured by the profitable issuers above and distribution platforms below, the article suggests that if stablecoins become a default financial rail for businesses, the infrastructure providers who have done the hard work of integration will ultimately gain strong pricing power and become entrenched, essential players.

marsbit7h ago

The Value Distribution of Stablecoins

marsbit7h ago

The Value Distribution of Stablecoins

The Value Distribution of Stablecoins The article argues that stablecoins are evolving from a mere trading tool into a broad "dollar channel." It analyzes the industry's value chain through four layers: 1. **Issuance Layer (e.g., Tether, Circle):** The top layer that mints stablecoins, holds reserve assets, and captures the thickest interest rate spread. 2. **Infrastructure Layer (e.g., Bridge, BVNK):** Connects stablecoins to the traditional financial system, handling critical but complex "dirty work" like fiat on/off-ramps, banking integration, compliance (KYC/AML), and cross-border settlement. 3. **Acquiring/Distribution Layer (e.g., Stripe, Coinbase):** Embeds stablecoins into merchant systems, manages payment flows, and integrates with enterprise software. 4. **Application Layer:** End-users and businesses that ultimately use stablecoins for payments, settlement, or storing value. The author posits that while the issuance layer currently captures the most profit, the most overlooked and potentially critical layer is infrastructure. The core challenge for stablecoin adoption isn't the on-chain transfer (which is simple), but bridging the gap between blockchain and the real-world financial system. This involves solving practical problems for businesses: fiat conversion, reconciliation, tax handling, and user onboarding. Infrastructure companies are currently in a difficult "land-grab" phase—building networks, securing banking relationships, and achieving compliance country-by-country. They face pressure from both the profitable issuance layer above and distribution platforms below. However, the author suggests this layer is building a crucial moat. Once stablecoins become a default business rail, the infrastructure players who have done the hard work of integration may gain significant, durable value and pricing power.

链捕手7h ago

The Value Distribution of Stablecoins

链捕手7h ago

Why Is Nvidia Borrowing $20 Billion When It's Not Short of Cash?

Nvidia's recent announcement to issue at least $20 billion in senior notes, despite holding a strong cash position with over $48.6 billion in free cash flow last quarter, is not a sign of financial need. Instead, it represents a strategic move to leverage its high credit rating (recently upgraded to AA by S&P) to secure low-cost, long-term debt. This capital will support long-term AI infrastructure investments, data centers, R&D, supply chain prepayments, and strategic investments, while allowing the company to continue aggressive shareholder returns through stock buybacks and dividends. The decision reflects a mature capital management strategy: using debt to finance long-term growth assets is more efficient and less dilutive to shareholders than equity financing. It signals that Nvidia, like other tech giants (Alphabet, Meta, Amazon), is entering a new phase of heavy AI capital expenditure, shifting from a pure growth story to a story about capital allocation, credit strength, and long-term ecosystem positioning. The key question for investors is whether Nvidia can maintain its high cash flow generation and ensure that returns from these AI investments justify the cost of capital over the long term. The bond issuance amplifies its expansion capabilities but also ties its valuation more closely to the broader AI investment cycle's sustainability and profitability.

marsbit8h ago

Why Is Nvidia Borrowing $20 Billion When It's Not Short of Cash?

marsbit8h ago

Trading

Spot
Futures

Hot Articles

How to Buy TOP

Welcome to HTX.com! We've made purchasing TOP AI Network (TOP) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy TOP AI Network (TOP) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your TOP AI Network (TOP)After purchasing your TOP AI Network (TOP), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade TOP AI Network (TOP)Easily trade TOP AI Network (TOP) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

3.4k Total ViewsPublished 2024.03.29Updated 2026.06.02

How to Buy TOP

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of TOP (TOP) are presented below.

活动图片

Top Questions