At the pinnacle of the digital age, the gaming industry has always been at the forefront of technological innovation. However, with the rise of Web3, the game industry is facing a brand new change. Web3 is not only a technological advancement, but also a challenge to the traditional game paradigm and redefines the future of digital entertainment.
In this moment full of innovation and change, how does Web3 reshape the game industry landscape? From a decentralized gaming platform to the empowerment of digital assets, Web3 has injected new vitality into the gaming experience. Let’s delve deeper into what makes Web3 a driver of change in the gaming industry, and how it unlocks the future of digital entertainment.
The cornerstone of traditional gaming
Traditional games, as a major component of the entertainment industry, are rooted in peoples daily lives and build a rich and colorful game culture. For decades, traditional games have been the main form of leisure entertainment and social interaction for people, shaping many classic entertainment experiences. These traditional games have unique charm and play an important historical role in the entertainment industry. These games have left a profound impact on cultural heritage.
However, with the development of the game industry and the rise of the Web3 industry, people are no longer satisfied that games can only be used as a form of leisure and entertainment, and have begun to gradually explore more financial possibilities.
The rise of Web3 games
The rise of Web3 games can be traced to the growing interest in blockchain technology and the success of early blockchain-based games such as “CryptoKitties,” which demonstrated the potential of combining blockchain with gaming. This success sparked a wave of innovation, resulting in more complex and engaging Web3 games.
In traditional games, centralized architecture may lead to concentrated power and opaque operations in the game. Typically involves purchasing in-game content or acquiring digital assets through the game. However, despite this investment, players do not actually own these digital assets; they are only allowed to use them in the game and do not own them. This is in stark contrast to Web3 games, where players have actual ownership of their in-game assets thanks to blockchain technology, which can be verified across different platforms thanks to the underlying blockchain technology and transfer. This breaks the solidification of authority in traditional games and creates a more open and fair gaming environment.
Web3 games also introduce a decentralized game ecosystem, including derivatives of the DAO concept, providing a free and democratic environment. Web3 games also introduced GameFi and P2E models, which provide gamers with the opportunity to make money while having fun. This also greatly enhances the enthusiasm and participation of gamers. The P2E model is a very healthy and positive cycle. , which not only has a fatal attraction for players, but also provides a new source of income for game creators.
For example, in the AAA game Shrapnel launched by Avalanche, players create maps and the community votes. Popular maps will receive more attention. The game combines high-intensity combat, player creation, and community curation. It empowers players to own their own creations and shape the future of gaming by making them creators, planners, and key stakeholders at every turn in a games development. Other forward-thinking games are also looking to adopt this innovative approach. .
Gaming Trends and Forecasts
Since the current market recovery, the popularity of games in the entire market has remained high. In October last year, the financing amount of the game sector exceeded 100 million US dollars in one month. In the past year, games also had the largest amount of financing in the entire Web3 On the track, 3A productions represented by Illuvium and Bigtime continue to lead the growth in the secondary market, and new 3A games that integrate AI, AR, AW technology and narrative are also booming.
There are many types of Web3 games, such as these once popular games: Decentraland, Axie Infinity, The Sandbox, CryptoPunks... All of these game players can completely control their digital identities, accounts and assets, and interact with them completely freely. Interact with the games local micro-economy to trade and cash out assets as you wish. But even though Web3 games have made leaps and bounds in terms of player autonomy, Web3 games are often criticized for poor game graphics and user experience. However, for the Web3 game field that is still in the early stages of development, these will continue to evolve over time. Gradually optimize over time.
According to blockchain data analysis platform Footprint Analytics, the number of Web3 games is growing at a rate similar to past bull markets. Although the number of games is increasing, the growth of active users is slightly lagging behind. Only some games in the mid-to-upper reaches have acceptable monthly active data, while most of the other games seem to be in the stage of dying. But this is not a bad thing. The waves wash away the sand, and truly capable teams and valuable projects will eventually remain. 2024 is expected to be a year full of expectations.
Historical experience tells us that games have always been the most disruptive track from Web1 to Web2, and in Web3, almost only games can smoothly integrate multiple Crypto elements such as NFT, Token and economic model at the same time. After the last round of shoddy mini-games, sophisticated production with more playability and lasting vitality, and more open full-chain games with strong narrative power have become the next direction for the industry to explore.
