WEB3 Gaming’s Future and Participation

Web3. This idiom has recently gained popularity as more companies and tech industry executives have joined the bandwagon.

Web3 is well-liked by investors and the IT sector because it gives customers today what they want: more flexibility and control over their online look.

Even though "Web3" is gaining in popularity, many people are still trying to understand what it means and how they may benefit from this cutting-edge technology.

What is Web3 exactly, to begin with?

Decentralization is a key concept in this section. In the Web3 age, as opposed to the existing internet, which is mostly dependent on the systems and servers of big organisations, our online behaviours and data will be saved on blockchain-based networks as opposed to corporate servers.

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

Web1: The first version of the World Wide Web, which used open standards and free software. Some of the largest internet businesses ever, including Google and Amazon, expanded as a result.

Web2: By emphasising user-generated material more, it paved the door for blogs, wikis, and social networking sites. It included social interaction and content production even though some of the same Web1 technology was used in its construction.

Web3: The new Web3 aggressively supports decentralising the Internet and favours value exchange over the straightforward flow of information.

By using an anonymous single-sign-on, anyone can participate in Web3 activities, negating the requirement for a centralised organisation to serve as a gatekeeper. In other words, users would be able to verify their ownership using a public, transparent blockchain without having to reveal personal information in order to carry out particular tasks, like executing transactions.

Why should Web3 interest Internet users?

Consider the following scenario: you publish a post on your social media platforms, it gains traction, and you get paid in full for participating in the activity. Particularly for the creators out there, this sounds fantastic.

Tokenization, whether it takes the form of fungible tokens (like bitcoin) or non-fungible tokens, makes such a structure viable (NFTs). Continuing with our earlier illustration, you can use an NFT to claim ownership of this article and then trade it with other people to earn money without having to share the profits with the platform that hosts the post.

Where are Web3 games played?

We are getting closer to this reality every day as more and more Web3 decentralised applications (dapps) and games are developed, despite the fact that Web3 is still in its infancy.

In the gaming industry, contemporary Web3-based games present new revenue prospects for both producers and users. Players who invest in and trade these digital assets can profit, while creators gain by creating valuable digital assets and monetizing them through ownership. The industry needs to solve issues with present Web3 gaming, even though it might seem like a pipe dream.

Current Web3-based games, for starters, focus on simple gameplay ideas, which limits the enjoyment factors for players and could result in low retention and a short lifespan.

The digital assets (i.e., NFTs) in these games are usually created as expensive collectibles with manufactured scarcity, which supports niche communities but unintentionally deters a larger audience from playing these games. The high obstacles to entry in these games, which rely heavily on fresh players, raise questions about the long-term viability of this economic model.

Are games that run on Web3 actually necessary?

With the introduction of innovative and ground-breaking game features including blockchains, cryptocurrencies, and non-fungible tokens, Web3 is fundamentally changing the gaming industry (NFTs). But which new gaming sector is being most significantly impacted by Web3? It is democratising the many areas of gaming and opening up whole new success opportunities for players! We've never seen a model that offers players this much power, and instead of focusing that power in just one game, they might distribute it across a number of games throughout the entire ecosystem.

The truth is that player expectations will increase as technology advances. Play any of the classic Snake video games you once enjoyed as a child? It used to be more than enough to keep you busy for hours, but that feeling might no longer exist. You will invariably select the "better" choice and believe that these characteristics are desired in a game because you have access to games with better visuals, more engaging stories, or thriving communities. Web3 Game Development is a compelling alternative in this situation that both creators and players are adopting more and more. Players have more ownership and financial possibilities in these games.

Players will soon learn to expect play-to-earn features and the ability to customise their gaming experience.

Going back to our original question, are Web3-based games really necessary? It will eventually be the preferred option, if not now. The industry must adopt this technology and actively follow its advancement if it wants to stay contemporary.

Playing video games on the Web3

There is still much to learn about how Web3-based gaming can revolutionise the industry. To correct this, industry participants must work together to build a world in which players may purchase digital assets at reasonable costs and watch them rise as a result of their own active participation in the games.

1. Possession and suitability

Players have the biggest opportunity in the Web3 metaverse thanks to the potential of blockchains and NFTs to provide true ownership and interoperability in gaming.

You've definitely noticed that NFTs are the new face of Web3 gaming, and that interest in them has grown significantly over the past several years. This is because, unlike with prior gaming models, they allow players to actually own practically any form of unique in-game asset or object.

2. Aside from Our Past

Every single gamer has a favourite series of their own. Among many other possibilities, these might be their favourite games or the ones they played the most when they were kids. Since gaming is a personal activity, it would be terrible to toss away all the existing titles that have brought generations so much delight.

By adapting these present games to the new in-game buying and selling model, the Web3 gaming industry is fortunately taking users' comments into consideration and facilitating the transfer of these titles.

3. A focus on the player in gaming

Gamers will discover a customised environment with these new Web3 possibilities, not just for big tech. With the ecosystem's promise of interoperability and ownership of digital assets, there are many new options to succeed and earn money. As a result, it strikes the perfect balance between the known and the unknown by preserving rather than eliminating our past.

In the Web3 world, gaming will serve to reestablish true decentralisation and player power.

Taking part in Web3 gaming

Even while learning to code for Web3 might seem challenging, it's actually much easier than you might think, and specialised knowledge is not required; all that's needed is patience and interest.

For instance, anyone may utilise BuildSpace to construct an NFT-based browser game, regardless of whether they are a developer, engineer, or simply a student. As a result, you will learn more about dApps and the larger NFT and cryptocurrency ecosystem.

The best feature is the ability to communicate with developers over a predetermined channel.

Ethereum Game Development would be a different choice. The Web3.js application, which supports Javascript-based smart contract interaction, can be used to achieve this.

You must learn how to code smart contracts (often using Solidity) because dApps depend on them in order to start working on Web 3 development. A front end, a wallet, and smart contracts will be the three fundamental components of every dApp.

Overcoming Obstacles

Despite all the advantages, there are still difficulties to overcome. To prevent a small number of users from gaining excessive influence, the tokenization incentives process must be faultless.

It's crucial to realise that the problem doesn't just exist when investors or marketers have too much power.

For games that are still quite popular, they are still required.

It can be difficult to strike a balance between incentives and enjoyable gameplay.

Producers won't want to go in the road taken by games like Axie Infinity, which eventually place a greater emphasis on investment than gameplay.

Rewards in a game should be earned through play rather than serving as the primary incentive to participate.

It may seem unimportant, but the goal should be play and earn rather than play to earn.

Additionally, there are technical issues to resolve. Due to Ethereum network congestion, gas charges for games like Crypto Kitties were out of this world.

Perhaps faster, less expensive, and more scalable blockchains to take into consideration include Solana and Polygon.

Despite all the talk about scalability and efficiency, smart contract limitations are the major reason why many blockchain games are slow.

Conclusion

Furthermore, it's crucial to remember that, even while Ethereum continues to rule the NFT and gaming industries today, this might not always be the case.

Solana may be a faster, more effective, and scalable chain. In the Web3 gaming sector, Polygon is involved in a number of alliances and acquisitions.

The gaming industry is now flourishing. However, play-to-earn games greatly contribute by implementing blockchain gaming technology.

It's possible that some games allow you to make money just by playing them. Additionally, participants have the option to convert their gains into cryptocurrencies or NFTs.

Future Web3 gaming will depend on interoperability between blockchains and subchains since it will enable game designers to create extremely specialised and targeted games.

The use of distributed ledger technology will lead to published games of higher calibre and more equitable benefits for both users and game developers.

Let's wait and see how the blockchain in web 3.0 affects this new generation of gaming.