More than 400 million new gamers are expected by the end of 2023.
400 million new gamers? Doesn’t it seem too huge to be true? And in such a fast-paced commercialized world, why is such a huge chunk of the population being driven towards games? Well, Web3 games powered by blockchain have quite a huge role to play here. Needless to say, several trends of Web3 games like ownership centricity, opportunity to earn income etc. are taking the industry by storm and we are all set to witness the magnum opus
Before we dive deep into understanding whether blockchain can really amplify Web3 gaming, let us not miss to look at the Web3 gaming project raises for August 2022 and other recent market trends.
Blockchain is the Backbone of Web3 Games
According to Quytech, gaming is the first major use-case for blockchain, which will transform the gaming industry and make it more engaging than ever before.
Since 2017, blockchain-based games have been around but they’ve only made headlines in the video game industry in 2021 after a few AAA publishers got interested in exploring their possibilities.
The rise of blockchain-based games has changed the gaming landscape quite a lot – making the players the primary financial decision makers, rather than developers. The use of blockchain games has increased 2,000% from Q1 2022, states DappRadar x BGA Games report.
How Blockchain and Web3 Gaming Go Hand-in-Hand?
Blockchain is a disruptive technology that has hugely impacted the technology sector. It’s nearly impossible to locate an industry that has not been impacted by blockchain technology, and gaming is no exception.
The scope of developing Web3 games is endless if developers are able to harness the advantages of incorporating blockchain technology into their games.
Not only will it enable gamers to earn money from their properties and assets, purchase or sell virtual items for cryptocurrency but also participate in games, and compete with other gamers across the globe, and play games that use blockchain products.
- Secure gaming
Web3 games powered by blockchain technology give a tough time to the nefarious minds on the web. It becomes difficult for cybercriminals to take down an uncentralized network because of the absence of servers and effective data encryption techniques.
- Real ownership of the in-game assets
The players can also own the game assets securely out of the games, all thanks to blockchain. Digital ownership is one of the most important use cases of blockchain and one of the basic principles of gaming – allowing gamers to exchange valuable goods and gain from their successes.
- Security of payment
If payment security is on your mind, then blockchain based Web3 games have got you covered. Wondering how? Well, the majority of blockchain-based Web3 games use their native crypto tokens for payment, which are profitable from an investment perspective and also secure since all transactions are logged and verified with blockchain technology.
- Player controlled games
A lot of Web3 games that revolve around blockchains are community-controlled and decentralized, meaning that the users determine future upgrades, features, and the general direction for the program.
Well, the list is endless as blockchain in Web3 gaming enables interoperability profiles of players, enables the projection of value on intangible assets, fosters creation of rare in game assets and many more.
Web3 Games: When Do We Really Need Blockchain?
Many industry experts believe that if the Web3 builders want to create the best possible Web3 and P2E games, they must have their hands full with the best possible resources. Surprisingly, many of those resources lie in Web2 gaming technology.
As a result, Web3 gaming builders need to build everything possible with Web2 technology, and integrate blockchain only when it’s necessary. Seems a bit strange right? Let’s comprehend it together.
In today’s time, the tech used to build blockchain-based games is at least ten years behind traditional gaming tech. The developers who are building and playing in the Web3 ecosystem have somehow traded-off in the name of decentralized ownership.
But is it really beneficial for Web3 games to have such old-fashioned mechanics in exchange for blockchain-based solutions? Ofcourse, it isn’t.
As a matter of fact, many practical things – payments, onboarding, and other gaming elements – are quite smooth without blockchain. But, blockchain is the right tool for some of the segments. Let’s decode where blockchain technology truly is the best solution.
What Came First: The Problem Or the Solution?
Another set of industry experts argue that blockchain could potentially add a layer of interoperability to in-game items and currencies along with transfer from one game to another.
But, it seems to be quite far-fetched as the infrastructure to support this type of interoperability between games will not exist anytime soon. Even games created by the same studio aren’t able to achieve the same. Therefore, interoperability is possible, but it isn’t practical – at least, not anytime soon.
However, the blockchain of today definitely supports ownership as it is both decentralized and immutable. It can be extensively used to create secure ownership records for any in-game item, currency, or other type of asset, including user data of Web3 games.
Point to be noted, in-game ownership is also possible without blockchain. Infact, the majority of the end-users may not even know or care about the difference between on- and off-chain ownership.
Therefore, the usage of blockchain for certain types of in-game ownership can’t really be called a solution – in fact, it might even be a hindrance.
Irrespective of that, more and more of these blockchain solutions are being created for ownership and beyond. And when the market is fizzy, innumerable companies start building more and more of them, fabricating ‘problems’ that their products can solve.
As an end result, there is an overabundance of services that will become obsolete with time. And since all of these are only temporary solutions to ongoing problems, building with them today isn’t a good idea.
Opposition vs Proposition of Blockchain in Web3 Games
It is a divided house of industry experts and professionals when it comes to understanding whether blockchain is a necessary element of Web3 games or not. While some claim it to be immensely useful in revamping the landscape of gaming in terms of authority, decentralization and ownership, the other section considers it as a mere temporary solution or setup that can be used, only when required.
As an analysis of both sides of the coin, the opponents of blockchain in Web3 games state that the problem of tying together blockchain and Web3 games is two-fold: blockchain is often overused, and when it should be used, the solutions that are the easiest to apply in the short term will not last into the future.
Therefore a lot of Web3 gaming builders are focused on using Web2 technology as much as they can today – to build advanced games that are complemented by robust blockchain applications only when and where it’s necessary.
When blockchain actually becomes the best solution, Web3 gaming builders must focus on building systems that can last for long. These are Layer 1 (L1) blockchains and Layer 2 (L2) solutions that have strong ecosystems and core development teams.
On the other hand, the proponents of blockchain in Web3 games state that ‘blockchain and gaming are both natural partners’. According to them, If Web3 game builders are planning to create their next game, they must consider the handful of advantages of blockchain technology to distribute games, along with other benefits as mentioned above.
It is safe to say that continuous technological advancements in the gaming industry are significantly propelling the industry’s growth. They are revamping the way games are created and improving the overall gaming experience of the users worldwide.
Be it with or without blockchain technology, Web3 games are garnering all the attention and shall continue to do so in the near future.
What do you think? Do Web3 games need to take a leaf from the Web2 playbook or take a cue from the blockchain buzz going around. Whatever it may be, the gaming afficandos all across the world are all game and ready to brace the next future of gaming.