SUMMARY
Web3 is fundamentally altering the gaming industry by introducing novel game features involving blockchains, cryptocurrencies, and non-fungible tokens (NFTs)
Web3 ensures that users truly own the in-game assets they create by leveraging competition for asset interoperability
Web3 gaming is also contributing to the financial strength of the gaming industry through the use of cutting-edge technologies such as blockchain, DAO, and the metaverse
Web3 is fundamentally altering the gaming industry by introducing novel game features involving blockchains, cryptocurrencies, and non-fungible tokens (NFTs). As it democratises various aspects of gaming, gamers now have completely new opportunities for success.
We’ve never seen a model that gives players that much control, and instead of focusing that control on just one game, they could spread it across the entire ecosystem.
Ownership Control & Seamless Asset Movement
The primary feature of blockchain games is ownership control, which allows for self-sovereignty. NFTs allowed players to claim full ownership of all in-game items and collectables. Web3 ensures that users truly own the in-game assets they create by leveraging competition for asset interoperability. Players may own in-game items in one game and use them on a platform of their choice.
Accessibility & Openness
One of the most notable aspects of Web3 gaming is the emphasis on the system’s dispersed nature. Unlike games that are centralised, you are not reliant on a single server. Voting agreements are also used to add new features to blockchain-based games. This opens the door to more open Web3 games.
Furthermore, the Web3 gaming environment operates autonomously with minimal interference from a centralised authority, ensuring exceptional availability.
Participant-Centred Experiences
The top web3 game developers show how the new gaming ecosystem thrives on personalised experiences. There are numerous notable examples of web3 games prioritising providing the best incentives to players.
Play-to-earn games, for instance, demonstrate how players can use games to earn money. Axie Infinity is a well-known example of a play-to-earn web3 game. Axie Infinity ($AXS) is a well-known play-to-earn NFT blockchain game in which players can profit by using their gaming skills and helping to improve the ecosystem.
The Future Of Work
The next generation of gaming platforms will enable players to earn money while playing their favourite games from anywhere in the world by owning in-game tokens that can be used, traded, or sold on the blockchain. These new platforms, such as play-to-earn games, where gamers become both the product and the economy, rather than just the economies that support these gaming corporations, have the potential to significantly disrupt the gaming industry.
There is a big opportunity to disrupt here. Play-to-earn games may provide players with a different source of income in the future to help them get out of difficult financial situations in struggling countries.
Web3 Has Democratised The Gaming Industry
The incorporation of blockchain and metaverse technology into Web3 gaming has significantly changed the gaming industry. It has democratised the gaming industry by removing centralised platform owners and game managers. Web3 gaming is also contributing to the financial strength of the gaming industry through the use of cutting-edge technologies such as blockchain, DAO, and the metaverse.
While we are still in the early stages of this space, there is still much to discover. As large gaming companies like Ubisoft and Zynga are now exploring this space, one can expect a rapid uptake of web3 games once AAA-quality games are released in the future.
