Future of WEB3 Gaming and How to Participate?

Web3- This phrase has recently gained attention due to the increased bandwagon-jumping of companies and tech executives.

The reason Web3 is so well-liked by investors and the IT world is because it gives people today what they want: more freedom and control over their online presence.

Even if the term "Web3" will spread, many people are still trying to understand what it means and how they may benefit from this cutting-edge technology.

What is Web3 exactly, first of all?

The key word in this sentence is decentralisation. Our online activities and data will be hosted on blockchain-based networks rather than corporate servers in the Web3 future, whereas the existing internet is mostly dependent on the systems and servers of huge organisations.

Web3, as its name suggests, comes after Web1 and Web2. Let's examine the salient characteristics of each evolutionary stage:

Web1: The first version of the World Wide Web, which utilised open standards and open source software. Some of the biggest internet businesses ever, including Google and Amazon, grew as a result.

Web2: With a stronger emphasis on user-generated content, Web2 helped pave the way for blogs, wikis, and social networking sites. Although some of the same Web1 technology were used in its construction, it also supported social interaction and content production.

Web3: The new Web3 promotes self-sovereignty, significant Internet decentralisation, and a value-exchange model as opposed to the straightforward flow of information.

Without the requirement for a centralised organisation to serve as a gatekeeper, anyone can participate in the Web3 world by using an anonymous single-sign-on. In other words, users would not be required to disclose personal information in order to complete specified tasks, such as carrying out transactions, and they would be able to use a public, transparent blockchain to authenticate their ownership.

What state is Web3 gaming in?

Although Web3 is still in its infancy, more and more Web3 decentralised applications (dapps) and games are being created every day, bringing us closer to this reality.

Modern Web3-based games in the gaming business offer new revenue opportunities for both developers and players. Players can make money by investing in and trading in these digital assets, while producers benefit by building valuable digital assets and monetizing them through the transfer of ownership. Although it might seem like a pipe dream, there are problems with current Web3 gaming that the industry needs to address.

To begin with, current Web3-based games rely on basic gameplay concepts, which limits the fun factors for players and may lead to low retention and a brief lifespan.

The digital assets (i.e., NFTs) in these games are frequently designed as lavish collectibles with artificial scarcity, which serves niche communities but has the unintended consequence of discouraging a wider audience from playing these games. Due to the dependence of these games on new players, the high barriers to entry raise concerns about the long-term stability of this economic model.

Web3 Games: A Look Toward the Future

All Games Are Switching To Blockchain

It goes without saying that decentralised gaming has benefits. Information is secure and anonymous, and neither data tracking nor data selling to third parties are practised. Due to the fact that double-spending is eliminated by blockchain technology, there are no fraudulent payments, as there are in the conventional credit and debit payment systems. 

Because the use cases for blockchain technology are expanding daily. Worldwide businesses are eager to quickly adopt this technology in order to gain an edge over competitors. If you want to fully integrate blockchain technology, it is best for you to work with one of the top Blockchain Consulting Firms, like Suffescom Solutions Inc.

Additionally, centralised firms like Google, Microsoft, Apple, Steam, and others charge upwards of 30% for the "luxury" of selling games on their platforms. Most developers believe that this percentage is unreasonable.

This finally addresses the core issue. Large actors who controlled the market and received a disproportionate share of the benefits characterised Web2 gaming earnings. While end users were charged more and given less control, game developers were not adequately compensated for their labour. This is altering as Web3 games have low production costs and end players are provided with tokens or NFTs to build their holdings and participate in the game's governance.

Given all of this, it should come as no surprise that Web3 is attracting an influx of developers. Instead of creating gaming monopolies, it's a place to foster gaming communities. The cornerstone of decentralised gaming development is cooperation.

Are Web3-based games really necessary?

The emergence of Web3 is completely altering the gaming scene by providing novel and ground-breaking game mechanics involving blockchains, cryptocurrencies, and non-fungible tokens (NFTs). But what is Web3's largest impact on the new gaming industry? It is democratising the numerous facets of gaming and giving gamers entirely new avenues for success! We've never seen a model that gives players so much control, and instead of concentrating that control in just one game, they may spread it across a variety of games throughout the entire ecosystem.

The reality is that player expectations will rise along with technology. Do you still play the old Snake video games you used to play as a kid? It used to be plenty to keep you occupied for hours, but the feeling might no longer be there. Because you have access to games with better visuals, more compelling plots, or vibrant communities, you will inevitably choose the "better" option and consider these qualities to be desirable in a game. In this case, Web3-based games serve as an alluring alternative that both developers and players are increasingly embracing. These games give players more ownership and financial potential.

The freedom to customise the gaming experience and play-to-earn features will eventually become the norms that players anticipate from a game.

What does this decentralised ownership actually mean?

Imagine that you are playing an action game. In this game, you purchased a weapon and then determined that you no longer required it because you have a more potent one. Most of the time, your only option was to continue using your outdated weapon. This is not the case in games built on the Web 3. You can sell your old weapon as a digital item on secondary markets. This transforms your virtual weapon from a one-time expense into an investment that will pay off for the duration of its useful life.

You might be able to transport your digital assets and use them across various games as more Web3-based titles are released. Due to the fact that every transaction is recorded and verified in the blockchain, you can even securely trade your digital assets for the assets of other players as you see fit. Of course, having these skills will improve and personalise your gaming experience.

Using the Web3 for gaming

To fully understand how Web3-based gaming will revolutionise the sector, there is still much work to be done. In order to remedy this, industry players must collaborate to create a world in which players may buy digital assets at fair prices and watch them increase through their own active engagement in the games.

1. Ownership and compatibility

In the Web3 metaverse, the potential of blockchains and NFTs to offer true ownership and interoperability in gaming offers players the most opportunity.

You've probably noticed that NFTs are the new face of Web3 gaming, and their popularity has recently increased dramatically. This is due to the fact that they enable players to truly own almost any type of unique in-game asset or object, which was not possible with older gaming models.

In traditional video games, a player would buy a certain in-game item. What occurs, though, when the same player chooses a different game? The time and money used to acquire the thing, or a number of items, were all in vain. We've all had this experience! Think about all the gaming equipment that is currently being lost to the virtual world.

In Web3 gaming, interoperability is the ideal remedy for this. These products are no longer necessary for gamers to purchase because they may be shared between other games. The gamers now have greater freedom to move between as many games as they like and have more influence over the experience.

2. Including Our Past

Each and every gamer has their own favourite series. They may be their favourite games or ones they played the most as children, among many other possibilities. It would be awful to throw away all of the current games that have given generations so much enjoyment since gaming is personal.

Fortunately, the Web3 gaming industry is taking players' feedback into account and facilitating the transfer of these current games by updating them to the new in-game buying and selling model. The idea that all of your favourite games could be expanded into the metaverse is unfathomable to us. Web3 is not only inventing a completely new genre of gaming, but it also makes it possible to incorporate our past.

3. Gaming That Is Player-Centred

With these new possibilities provided by Web3, gamers will discover a personalised ecology, not just for big tech. There are a lot of new opportunities to make money and succeed, especially with the ecosystem's promise of interoperability and ownership of digital assets. Additionally, it preserves our past rather than erasing it, striking the ideal balance between the known and the unknown.

The function of gaming in the Web3 environment will be to restore real decentralisation and player power!

Participating in Web3 Gaming

Even though learning to code for Web3 could appear difficult, it's much simpler than you might imagine and specialised knowledge is not necessary; patience and interest are the only requirements. For instance, anyone, whether they are a developer, engineer, or simply a student, can use BuildSpace to create an NFT-based browser game. You will become more familiar with dApps and the bigger NFT and cryptocurrency ecosystem as a result.

The finest feature is that you may collaborate with developers through a set channel of communication. The creation of video games is always a collaborative effort. Additionally, you may connect conventional engines like Unreal or Unity to Web3 using the existing SDKs (which are currently very limited in number).

A different option would be to develop your own decentralised Ethereum application. You may accomplish this using the Web3.js application, which enables Javascript-based smart contract interaction. Because dApps rely on smart contracts, you must learn how to program them (usually using Solidity) in order to begin working on Web 3 development. The three essential parts of every dApp will be a front end, a wallet, and smart contracts.

Conclusion

Additionally, it's critical to remember that while Ethereum continues to rule the NFT and gaming markets today, this might not always be the case. Even while it's still a good place to start, its scalability and pricing inefficiencies have been demonstrated. Solana might be a chain that is more rapid, effective, and scalable. In the field of Web3 gaming, Polygon is also well recognised for having entered into a number of partnerships and acquisitions.

There is nothing wrong with the current gaming industry. Play-to-earn games, however, make a significant contribution by integrating blockchain gaming functionality. Games that allow you to make money solely by playing them might exist. Additionally, participants have the option to trade their earnings in cryptocurrency or NFTs. For more details about web3 gaming, connect with a Web3 Game Development Company.

Regardless, interoperability across blockchains and subchains will be a key component of Web3 gaming in the future, enabling developers to create very customised and tailored games for their intended audiences. Through the use of distributed ledger technology, gamers and game producers will experience more equitable rewards and better-quality published games.

It's understandable to ask how well-liked "play-to-earn" games like Axie Infinity will do in the future given the positive buzz surrounding them. The key features of new blockchain-based games would include NFT participation and the creation of enormous communities, as well as the blockchain's strong support for security and transparency.