The Rising Costs of Crypto Gaming and Gambling Ads Explained

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Crypto gaming and gambling ads ‘most expensive’ for onboarding users

Why Are Crypto Gaming and Gambling Ads So Expensive?

In the rapidly evolving world of cryptocurrency, acquiring new users is a challenge that has significant costs attached to it—especially in the sectors of gaming and gambling. Recent reports reveal that these campaigns are the most expensive forms of onboarding users with existing crypto wallets, with a staggering median cost per wallet (CPW) of $8.74.

The Numbers Behind User Acquisition

Asaf Nadler, co-founder of the Web3 marketing firm Addressable, shared crucial data showing that while gaming and gambling ads can reach potential users, they tend to have a lower conversion rate compared to decentralized finance (DeFi) and centralized finance (CeFi) campaigns. With DeFi and CeFi averaging a median CPW of just $2.79, it raises questions about the efficiency of crypto gaming promotions. These figures point to larger trends of speculative behavior and high churn rates, contributing to why crypto gaming ads can feel like a costly gamble.

Understanding the Challenges of Crypto Gaming

Why do gaming and gambling sectors face this uphill battle? According to Nadler, the intense competition and the nature of user engagement create a challenging landscape. The players in these spaces are often more transient, and many users engaged with gaming may lack commitment. "If Web3 gaming is truly 'inevitable,' we need to discover a more powerful user acquisition strategy to make it sustainable, much like in Web2," Nadler stated.

Looking Ahead: Opportunities Await

Despite these challenges, optimism remains. Jeff “JiHo” Zirlin, co-founder of Axie Infinity, suggested that high CPW periods present unique opportunities to innovate. He emphasized a proactive approach—experimenting with new games or consolidating the market share during these times of high costs could lead to significant growth during more favorable market conditions. Understanding the cyclical nature of the market can propel projects into the next big wave of crypto expansion.

The Bottom Line: What This Means for Prospective Users

For those venturing into cryptocurrency and seeking gaming experiences, this data offers an insight that goes beyond just financial metrics. It underscores the importance of keen research and understanding before diving into costly campaigns. Awareness of the challenges and potentials can prepare users to navigate this multifaceted landscape effectively.

Join the Conversation

Whether you’re a longtime crypto enthusiast or just starting, staying informed about trends in user acquisition is crucial. Explore our community discussions and share your thoughts on the future of crypto gaming!

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