Recent data published by Web3 marketing companies shows that attracting Crypto wallet users through games and gambling campaigns has proven to be the most expensive marketing strategy in the Web3 industry.
In a report shared on X, addressable co-founder Asaf Nadler revealed that the median cost per wallet for cryptogames and gambling campaigns is $8.74, with the lower quartile being $3.40.
CPW is a metric that measures the cost of attracting users who already have a Crypto wallet installed. This takes into account a “qualified” user base that may be involved in cryptographic products.
Axie Infinity co-founders see high user acquisition costs as an opportunity for strategic growth
However, not all industry figures view high costs as a drawback.
Jeff “Jiho” Zirlin, co-founder of Axie Infinity, encouraged the team to embrace the current climate as a period of strategic growth.
“We’ll create new games and product lines, integrate market share, and prepare ourselves for the next market expansion,” he posted on X, calling it the “coil phase” before potential explosive growth.
This is an interesting study.
Essentially, the amount of money that would cost someone to bear on Web3 increases throughout the bear market and decreases between bulls.
This was the case for all regions tested except in Southeast Asia.
This is why we are stable…– Jihoz.ron
(@jihoz_axie) April 12, 2025
In contrast, decentralized finance (DEFI) and centralized finance (CEFI) campaigns have significantly improved cost-effectiveness.
According to the data, the Defi and CEFI campaigns recorded a median CPW of $2.79, with some reaching up to $0.10.
This insight was derived from 200 programmatic ad campaigns involving advertisers, with over 2 million addressable advertisers targeting around 9.5 million crypto users worldwide.
The report also tracks how CPW changes depending on region, campaign type and market cycle.
Nadler highlighted that premium markets like the US and Western Europe saw a dramatic surge in CPW in 2024, four times in the US, 27 times in Western Europe and 27 times in Q1 to Q3, 27 times in Q1 to Q3.
These regions provide scale at bullish stages, but in bearish it becomes expensive and sustainable.
Emerging markets like Latin America and Eastern Europe offer lower CPW during the preferred period, but have greater volatility.
Blockchain games will see more transactions in Q1 2025, but there will be fewer funds
The blockchain gaming sector experienced complex performance in the first quarter of 2025, with significant rise in trading volumes and sharp declines in total funds.
According to Dappradar’s latest blockchain gaming report, the Web3 gaming project raised $91 million in the first quarter of 2025, down 71% from the previous quarter and a 68% year-on-year decline.
Dappradar analyst Sara Gherghelas noted that the significant recession highlights the growing challenges of early-stage startups, particularly in the current macroeconomic environment.
“Unless the broader market situation improves, 2025 may prove to be more difficult than in the past few years,” she writes.
Last month, members of Arbitrum’s Decentralized Autonomous Organization (DAO) voted to cancel funds previously allocated to the Game Ecosystem Initiative, citing inadequate progress and transparency from program administrators.
This discussion unfolds amid a wider headwinds in the Web3 gaming sector.
Zksync recently canceled its liquidity rewards initiative, citing poor market conditions.
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