Web3 Gaming Faces More Challenges Than The Crypto Winter
The present “crypto winter” has revealed a number of fundamental issues with Web3 gaming’s long-term viability that were covered up by this hype cycle. Nowadays, most people think that playing to earn is unsustainable.
Blockchain gaming became popular after the autumn 2021 NFT profile image mania. ‘Play-to-earn’ gaming guilds formed, investors invested, and millions of users played flagship games.
When blockchain gaming was discussed in relation to a major publisher or well-known video game, anxiety ensued, reflecting the fact that almost all of them were exploring blockchain methods, either publicly or secretly.
The Present Crypto- Winter
The present “crypto winter” has been revealing a number of fundamental issues with Web3 gaming’s long-term viability that were covered up by this hype cycle. Nowadays, most people think that playing to earn is unsustainable.
Simple blockchain-first games ceased to be fun when the numbers stopped growing. Few people are long-term bets against Web3 technology and gaming, though.
Over $5 billion will be investing in the blockchain gaming sector by 2022, up from $4.2 billion in 2021.
- The Web3 gaming industry shouldn’t see this as a sign that the current crypto winter will pass quickly and hold out hope that its challenges will disappear.
- If Web3 gaming wants to be more than a niche in the game business when it emerges from its winter sleep, it cannot look the same as it does right now.
- If this is the case, the current segregated economics and experiences of Web3 gaming will quickly become an insurmountable barrier for the vast majority of the roughly 3 billion daily gamers globally, for whom high friction equates to low fun.
- Because of this, there is still a long way to go before blockchain gaming is widely using, despite the fact that there has been a big investment in it and a lot of information about it.
- It goes without saying that blockchain gaming needs to provide enjoyment, simplicity, and variety in order to advance and appeal to a large audience.
Web3 Gaming Scaling
As a result of the financialization of various in-game goods and, more significantly, of people’s time, new player identities and even non-player personas like investors and gaming guilds have undoubtedly found a home in the gaming industry.
Therefore, any successful blockchain gaming paradigm would undoubtedly include elements of economic ownership and investment.
- The most important element, though, is promoting widespread acceptance. The most popular Web3 onboarder in the world will also be a blockchain game that appeals to “normies” (common players).
- Players can earn significantly more money by playing Web3 Game Development platforms, despite the fact that most of them demand in-game purchases to launch.
- The practice of “playing to earn” has become more common among gamers all around the world.
- There are billions of gamers who like playing games all over the world. They rely on free-to-play games and any device that is available (mainly mobile).
- These mass-market dynamics are undermining a Web3 gaming strategy that prioritises blockchain over delight and is both unsustainable and unscalable.
- Therefore, the core of any blockchain gaming company should be enjoyment, the component that first made gaming so fantastic.
- By creating a flexible product that caters to and provides options for gamers of all types, crypto natives, and everyone in between, we can use blockchain to better games from this vantage point.
- That represents the apex of Web3 gaming.
In addition to games, platforms
Therefore, if giving players scale, simplicity, and choice is what it takes to make blockchain gaming sustainable over the long term, then we need blockchain gaming platforms rather than just blockchain games. Why?
Simply put, whether a game is on or off the blockchain, it is challenging to create one that draws and retains billions of participants.
If people want to continue playing different games the way they do now, it won’t be possible to support dozens of different blockchain game economies.
Users will accumulate hundreds of wallets and tokens across numerous blockchains, unlike in popular gaming and entertainment like music and movie streaming.
We should be thinking about how to create a blockchain gaming platform that can compete with Steam or the Apple App Store in terms of scale and selection rather than concentrating on the next big game.
In contrast to walling gardens run by Web2 tech behemoths, imagine how such platforms might look if they were integrating with the core principles of Web3: transparency, decentralisation, and community ownership.
Retooling web3 gaming
- If we do it right, upgrading from Web2 to Web3 in the gaming industry will have a much bigger impact than, say, switching from PS4 to PS5 or from iOS15 to iOS16.
- This is a chance to reconstruct essential pieces of the video game universe, fairly recompense people for their time and ability, and give users ownership of their favourite experiences and games.
- Web3 gaming will be forcing to stay a segmenting set of niche experiences with the adage “always winter, but never Christmas” if we handle it incorrectly.
This will occur if we see the crypto winter as a temporary phase rather than a chance to significantly change our approach.
We must focus on ensuring that Web3 gaming is accessible to all gamers and offers a range of ways to participate.
This should, in ideal circumstances, take place inside a small number of distinct ecosystems that bring together numerous games under one economy and one seamless UX in order to get beyond the interoperability restrictions of Web2 “metaverse” platforms.
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