The gaming industry is booming, and the global market is expected to be worth $321 billion by 2026. But success in game development is not just about creating good games and marketing them well. It’s also about creating a sense of community and shared experiences among gamers, which has always been an essential aspect of gaming, regardless of financial figures.
Web3 gaming, however, has the potential to be a natural bridge between Web2 and Web3, offering both social and economic value for gamers around the world. In this article, we’ll explore what Web3 gaming can offer to at least 40% of the world’s population and why it’s the future of gaming.
Web3 Gaming: A Game-Changer
Web3 gaming offers the best of both worlds: decentralized game-making for developers and companies and a sense of community and shared experiences for gamers. By integrating smart contracts and turning virtual items into NFTs, the power is given back to players who can now own their gaming attributes. Even if a game gets shut down, the player’s gaming attributes can live on as long as there is a community to support the game doing so.
The community aspect of Web3 gaming has always been fundamental to gaming, and it’s what sets Web3 gaming apart from traditional gaming. Decentralization eliminates the downsides of centralization, such as limiting experiences and the emergence of leaders or corporations that may pose a threat or risk. With Web3 gaming, gamers from all over the world can access games and own core elements of their experiences, while game makers can transition from sole arbiter to access broker, enabling gamers to monetize their game experiences.
The Benefits of Web3 Gaming
Web3 gaming has numerous benefits for both gamers and game makers. Let’s take a closer look at them.
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Better Games = Better Cash Flow
The early adopters of Web3 gaming are highly engaged in pre- and post-launch game development, user experience upgrades, and funding, which directly translates to game maker success. In-game transactions, including the ability to mint NFTs of gaming attributes and avatars, offer new revenue streams for companies and more personalized experiences for gamers. Gaming already accounts for over half of all transactions on the blockchain, and the community is just getting started.
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Moving to an Individual Ownership Model
With Web3 gaming, gamers own their gaming attributes and can monetize their game experiences. This ownership model eliminates the downsides of centralization and gives power back to players. Even if a game gets shut down, the player’s gaming attributes can live on, as long as there is a community to support the game doing so. This provides gamers with a unique and valuable experience and a sense of ownership and investment in the games they play.
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A Global Community of Gamers
Web3 gaming offers a global community of gamers, enabling players from all over the world to access games and own core elements of their experiences. This community spirit has always been a fundamental aspect of gaming, and Web3 gaming takes it to the next level by offering decentralized gaming and ownership models. Gamers can compete and connect with people around the world, creating shared experiences and a sense of community that transcends borders.
Conclusion
Web3 gaming is the future of gaming, offering both social and economic value for gamers and game makers. With decentralized game-making for developers and companies and individual ownership models for gamers, Web3 gaming has the potential to bridge the gap between Web2 and Web3 and provide a global community of gamers with shared experiences and a sense of ownership in the games they play. As the gaming industry continues to grow, Web3 gaming is poised to be a game-changer.
