An animation blendspace in Unreal Engine 5 is a tool that allows developers to blend multiple animations together to create a smooth transition between them. This can be used to create realistic movement for characters or objects in a video game or virtual reality experience. It allows for a variety of different animations to be blended together, such as walking, running, and jumping, to create a more realistic and seamless movement. Here is how to create one in 5 minutes on Unreal Engine 5:
Open your main [BP_Character]
Go to Viewport
On the right, select the Mesh that you want to use, and Save.
Open the Content Drawer
Go to Character/Anims, right-click, and create Animation Blendspace
Select the Skeleton you want to use/act on
Rename the Blendspace file name (e.g. IdleWalkBS)
Open the file
At the bottom right of the screen, find the different animations available
Drag and drop 2+ on the timeline (center bottom)
Hold control to move the X to view the transition
To bind this axis to e.g. Speed, go to the left section, under Horizontal Axis, change 'Name' to 'Speed'
Change Max (Speed) to 600 (= Run)
Save & Close
On the Content Drawer, in the same folder, create an Animation Blueprint
Select the same skeleton
Rename file, e.g. "TSSAnimBP" and Open
On AnimGraph, Drag Result to the left
Add a new State Machine, Open
On Entry, Drag and Select "New State"
Rename this new State, e.g. "Idle/Run"
Double-click to open it,
Drag the Animation Blendspace (from the bottom right)
Link it to Result, Compile
Now Drag Speed to the Left, Promote to Variable (type Float)
Go to the OpenGraph (to program the BB)
Off the TryGetPawnOwner, drag Return Value, is Valid? (Check)
Link with Event Exec Pin
Off the TryGetPawnOwner, drag Return Value, Get Velocity
Off Get Velocity, Return Value, and Vector Length
Off Vector Length, select Speed Variable (from bottom left, drag), Set Speed
Then Hook Is Valid to it, and the Vector Length to Speed

33. Go back BP_Character
34. Right side, under animation, on Anim Class, select this TSSAnimBP, Compile and Save
35. Done