What is Web3 Gaming?
Web3 gaming refers to decentralised gaming where the lack of central authority to govern the activities carried out in the gaming ecosystem enables the users to secure ownership of gaming assets and decision-making.
Web3 games involve the integration of blockchain into the ecosystem, thus allowing gamers to express their opinions on the direction of the game, and providing access to play-to-earn gaming assets in the form of gaming NFTs.
Main Features of Web3 Gaming
The integration of older game models into the metaverse and blockchain platforms essentially decentralises them to allow the upgrading of old and popular games by extending them into the metaverse.
Since Web3 gaming is hosted on the blockchain, this renders the games to be unhackable while establishing a high standard of transparency where users are given voting rights to modify the gaming process to make it equally accessible to all players.
Lastly, the player-driven concept of Web3 gaming entitles players to earn profit via in-game items through the play-to-earn aspect.
The future of Web3 Gaming
Despite hefty investments poured into Web3 projects, a recent survey conducted by Coda Labs showed that only 12% of non-crypto gamers have tried Web3 gaming, while just 15% of those who have yet to try were interested in doing so in the future. This dismal circumstance was attributed to the lack of understanding towards blockchain games and the interest in playing for enjoyment of the game rather than the play-to-earn aspect. Nonetheless, the future of Web3 gaming remains carefully optimistic. Only time will tell if it will truly be the game-changer of the gaming industry.