You must have heard about web3 gaming before as this rising trend has caused a stir in the world of video games. But do you actually know what this phenomenon is about and what’s behind it? Let’s discover it together!
Everything you need to know about Web3 gaming
So what is web3 gaming? In plain words, this is the latest game development industry buzz that, unlike traditional gaming platforms, allows players to engage with their favorite video games in ingenious ways. Well, now we’d better dig a little deeper and figure out everything down to the slightest detail.
Web3 has been transforming various industries, including gaming, lately. This is the concept of a new, third-generation Internet, decentralized and powered by blockchain and tokenomics. Web3 is the opposition to the centralized Web2 World Wide Web.
The gaming industry has always been at the forefront of adopting innovations and cutting-edge technologies. And as the world of games has been constantly expanding and flourishing, players have become more demanding, and it is no longer enough just to have fun while playing games.
Today players expect developers to push the boundaries and provide more ingenious solutions. That is what brought a brand new generation of games based on Web3 technology that opens up a whole new realm of exciting gaming experiences for both casual and die-hard gamers.
The emergence of web 3 games has marked a shift from traditional gaming platforms toward decentralized gaming with complete ownership for players. But there’s much more to this! Web3 gaming is looking to use things like the Metaverse, NFTs, and blockchain technology.
Web 3 games let players earn via cryptocurrencies and NFTs.
We should also add that web3 promotes democratization in the gaming world. What does it mean? The main power is in the hands of gamers - not the central authority.
Web3 games: distinctive features
Web3 gaming technology outlines a new era. This is the era of decentralized gaming based on the peer-to-peer architecture of blockchains as an underlying component of a game’s economy with cryptocurrencies and NFTs.
Web 3 games are digital games with the provision of digital assets in the form of NFT or crypto that players can trade themselves within one platform or ecosystem (similar to traditional gaming) as well as in multiple chains and platforms.
Check out some of the key features of web 3.0 gaming.
Full ownership and interoperability
When talking about web 3 games, the very first thing to mention is elf-sovereignty. This means players enjoy absolute ownership of their in-game assets and collectibles as digital NFTs. Unlike traditional gaming, where players lose assets once they decide to change the gaming platform, Web3 gaming solves this problem - now gamers can not only trade their assets without third-party intervention within a particular platform but also carry them across various platforms while maintaining full control.
As web 3 games are hosted on blockchain, they get literally unhackable. Another cool thing about blockchain-based gaming that is worth attention is voting consensus. In layman’s terms, once it is necessary to introduce modifications to the gaming process, all players engaged on the network get equally involved. There is no single authority - it’s all about democracy in the world of video games. This way, web 3.0 gaming is transparent.
The player-driven gaming ecosystem allows for managing gaming communities and decentralized gaming platforms. The main focus is on a player’s experience rather than on short-term profit. Built as per gamers’ preferences and requirements and tailored according to a gamer’s passion and skills, web3 games make the gaming experience profitable with the P2E module as a deciding factor.
Blockchain has gained so much popularity mostly due to the decentralization the technology provides. Users have the power to act online without any intermediaries. Decentralized autonomous organizations (DAOs) in the gaming world involve players directly in the development decision-making processes via tokenised voting rights.
New monetization opportunities
Web3 gaming creates innovative in-game economies where players are rewarded for gaming skills and can turn their hobby into profit. The P2E model allows players to earn real money for the time they spend on gaming.
Blockchain technology is well-known for its high security level. Data is stored in blocks which all are added to the blockchain. This prevents various hacker attacks and makes the data impossible to tamper with. Moreover, cryptographic security measures make sure gamers won’t lose their NFTs and valuable tokens in case of cyber-attacks.
What are the main types of Web3.0 games?
Now that you have general knowledge of web3 gaming, blockchain technology, and NFT art, you can move on to its diversification. If you thought that was it, we want to tell you there’s much more to learn yet!
In this section, we will outline the two central types of web3.0 games.
Play-to-earn and move-to-earn games are two different types of NFT games that have gained popularity in recent years. Both involve players earning some form of cryptocurrency or digital asset by participating in gameplay, but they differ in how the rewards are earned.
These are typically online multiplayer games that allow players to earn in-game currency or digital assets by completing various tasks or objectives within the game. This can include completing quests, defeating enemies, or gathering resources. The in-game currency or assets earned can then be traded on various cryptocurrency exchanges or used to purchase items within the game itself.
One popular example of a P2E game is Axie Infinity, a blockchain-based game where players breed and battle digital creatures known as Axies. Players can earn the game's native cryptocurrency, called Axie Infinity Shards (AXS), by winning battles and completing quests. These shards can then be traded on cryptocurrency exchanges or used within the game to purchase additional Axies or other in-game items.
These games, on the other hand, reward players for simply moving around the game environment. It’s too simple to be true but still. Move-to-earn games typically use blockchain technology to track and verify players' physical activity, such as steps taken or distance traveled. Players can then earn cryptocurrency or digital assets as per their activity levels.
One example of a move-to-earn game is Lympo, a blockchain-based fitness app that allows users to earn cryptocurrency called Lympo tokens by completing various fitness challenges. Users can connect their fitness trackers to the app and earn tokens for achieving various fitness milestones, such as reaching a certain number of steps or completing a certain number of workouts.
Web3 gaming: advantages and pitfalls
Web3 gaming is an innovative and quite promising approach to gaming that offers several good advantages over traditional gaming. As the trend for blockchain-based games is expanding increasingly, we believe it will completely transform the world of games shortly. It’s already clear web 3 gaming has all the chances to become the key game-changer in the industry.
However, benefits always come along with risks and challenges. You should be aware of them in order to be ready to tackle issues and overcome obstacles on your way to successful web3 games development.
We’ve already mentioned numerous advantages like ownership, decentralization, democracy, and interoperability. That’s what attracts players regardless of age or gender. Is there something even better? Yes, wait for it. The greatest thing about web3.0 games is a whole world of opportunities for players to monetize their skills, time, and creativity within the game. It’s like a dream come true. Some gaming models use NFT art and tokens within the in-game economy so gamers get rewards for their efforts.
As for developers, they are no longer limited to coming up with new ingenious ways to engage players. The use of smart contracts gives developers the freedom to experiment and apply their creative vision and out-of-the-box thinking to build intricate in-game economies and mechanics that would not be possible until now.
Web 3.0 games are too good to be true, aren’t they? There are enough benefits yet we should mention challenges and risks, too.
Complexity. Web3 can be technically complex, lacking user-friendly interfaces for non-crypto-savvy players. At the same time, developing a web3 game requires sufficient knowledge of blockchain technology and strong skills. Building and maintaining a decentralized network is a difficult task that takes developers to possess deep expertise. However, advancements in development tools, frameworks, and libraries gradually simplify the development process.
Uneven economy. You should never exclude the risk of the economy going down or experiencing a crisis. This will obviously affect games with some of them reaching a dead end.
Scalability. This is a long-standing challenge that still requires an effective solution. Networks must be capable of handling large amounts of data and transactions created by gaming apps quickly and efficiently.
Security concerns. Web3 games are built on decentralized networks which provide better security as compared to centralized ones. However, Web3 games are still vulnerable to hacks and cyberattacks and there still are cases of scammers and fraud. Gamers should take precautions to protect their private keys and use secure crypto wallets to prevent losing their digital assets.
Losing the element of “fun”. That’s a big concern for developers of web3 games that are primarily focused on monetization and profitability and games are supposed to be entertaining and enjoyable. It's crucial to maintain the balance - combine the fun gameplay and financial incentives.
Best Practices and future trends
Even though web3.0 gaming is still in its early stages, it has some practices that developers and players can follow to ensure a positive Web3 gaming experience.
User-focused design. Developers should focus on creating a user-friendly design that is easy to navigate and understand. The game's interface should be intuitive and straightforward, and the instructions should be clear and concise. Web3 games are all about putting a player first. Developers provide gaming environments that prioritize the player’s needs, preferences, and enjoyment, which directly impacts user engagement and makes players keep coming back for more. To enhance this experience, developers integrate NFTs massively and thus give players actual ownership of in-game items, which can be then traded, collected, and showcased.
Uniting forces with traditional gaming. When it comes to the gaming industry, things never stand still here. The sector is ever-changing and Web3 gaming is at the forefront of this evolution. Web3-based games can make the most out of innovations and traditional gaming. This collaboration is paving the way for a bright and great future for the worldwide gaming industry.
Community building. Developers should focus on building a strong community around their game. They should encourage players to interact with each other and provide tools and incentives for players to collaborate and share their experiences.
Web3 gaming has already proven to be a promising approach to gaming that can soon completely reshape the industry. With the rise of Vr and AR, web3 gaming is anticipated to become even more immersive, allowing gamers to dive into amazing virtual worlds and explore gaming environments in a new exciting way.
Another big trend is game development with AI and ML to create personalized dynamic and responsive environments.
We cannot say for sure what the future of gaming holds for us but we believe it’s going to be great! We look forward to more groundbreaking advancements and innovations.
Web3 gaming has brought fantasy to reality with metaverse and blockchain technology integration. This is a new approach to gaming that completely changes our perception of video games.
Web3 has introduced democratic gaming by giving space for decentralization and providing players with full control over their in-game assets. Additionally, web3 games contribute to boosting the financial aspect of the gaming sector, too.
as for now, we can claim blockchain technology is the next big thing in gaming with the shift towards Web3 being inevitable. There is no doubt gaming will be among the first adopters of the technologies emerging from the massive shift to web3.
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