The gaming industry is causing a change in the way people use the internet, and every member of Generation Z is a part of it. DappRadar says blockchain games brought in $2.5 billion in the first three months of 2022. This year’s income is expected to be 150 percent higher than last year’s. When people couldn’t leave their homes because of the Pandemic, many more people wanted to play games. This was especially true after the Pandemic. As a result of the recent addition of Web3 and its wonders like Blockchain to the gaming industry, the number of gamers has increased as skill and money have come together. With Web3, players don’t have to follow a set of written rules by the game’s creator.
Many new game rules and features are added to Web3 games through a voting system made just for players. Many modern games, like Fortnite, have added new features, like virtual concerts, that make them more fun to play.
Now that players can talk to each other, the Web3 gaming revolution has started.
Moving from Web2 to Web3 Gaming
Web2 was the best place to play most of the most popular games for a long time. Before these Web2 games came out, the people who made them set up the rules for how to play them. The storylines of Web2 games were always planned ahead of time and built into the games. Once all of the levels are done, the game will be nothing more than a fun memory. With the upgrade to Web3, a new way of doing things has been implemented to let players run the game. Games like Battle Royale don’t come to an end. Since the game came out, its creators and the gaming community have added new weekly features to keep it interesting.
Web3 is the future of games, and the change from Web2 to Web3 will have to be in 3D. Web3 game development has opened up the gaming industry to the possibilities of virtual reality. With tools like the VR headset, it’s easy for players to get lost in a 3D world that looks like a fantasy world. The user will feel like they are not only playing the game but also helping the gaming community.
What does Web3 have to Offer the Modern Gaming Business?
For a better understanding of Web3, let’s take a look at the services it offers and how they work together.
Decentralization is, without a doubt, Web3’s most important trait. As the word “decentralization” suggests, no one else can get in the way of it. No financial institutions can get in the form of Web3 transactions and claim a piece of the money. The only people who can see this transaction are the person paying and the person getting the money.
Rapidity and Availability
Web2 games were slow and full of hackers and malware. Web3 games, on the other hand, run at incredibly high speeds. The user can take advantage of fast speeds and different ways to get online that web2 gamers didn’t know about. The game industry has changed greatly since chat and payments to buy in-game assets with proof of ownership were introduced.
A Dispersed Nature
The fact that Web3 is spread out makes it easy for gamers to use. With a wide range of options in the Web3 universe. The Web3 gaming environment is run by players voting on what features to add or remove.
Virtual reality is the only tool that can give players a completely immersive experience. With virtual reality, gaming reaches new heights because players feel like they are in the game.
Experiences That Focus on Customers
Web 3 is about the user, and Web3 games are based on what the user wants. Users have a lot of power in Web3 games and can also sell their characters on NFT marketplaces as non-fungible tokens.
Understanding Blockchain Vs. Web3 In Gaming
When Blockchain and Web3 are discussed, there still needs to be more clarity about Blockchain and web3 gaming. Web3 can exist because of a technology called Blockchain. They are different parts of the same idea that work well together. The data on Web3 is stored on peer-to-peer networks and made with a blockchain. A blockchain-based game uses the Blockchain’s technology stack, which includes Smart Contracts, Cryptocurrencies, and Wallets. Even though the same is true for Web3, the most interesting thing about Web3 is the metaverse, which consists of revolutionary Blockchain technology, the virtual world, and the power of artificial intelligence.
NFTs aren’t just tokens that can be traded for cash; they can also be things like character skins, weapons, and even whole characters.
Some Technologies Of Web3 Gaming
Ecosystem Driven by Blockchain
The whole Web3 is built on the Blockchain ecosystem, which has many benefits, such as a distributed ledger and safer and more open transactions. With Blockchain, players can choose from different ways to play games. The developer can use multiple subscription models simultaneously, increasing the gross revenue that game developers make. Playing to make money lets you combine gaming as a craft and hobby with a way to make money.
Smart contracts are lines of code that make the whole game or Dapp work. Regular checks of these smart contracts let developers fix small problems before a bug in a smart contract changes the currency’s value. During the transaction, the smart contract protects the user’s private information by acting as a shield.
The digital assets in Web3 games are called “tokens.” The gamer can buy these with either cryptocurrency or regular money, and won tokens can be turned back into regular money using digital wallets. Most Web3-based games give each player a “digital wallet” to store their items.
Why Should You Pay Money for Web3 Games?
Web3 games have a lot of potential for young people today. Gamers from Generation Z are not just here to play. They are also here to make money. 80 percent of GenZ and Millennials play video games for eight hours a week. Generation Z spends an average of 7 hours and 20 minutes daily playing web3 games. This is more time than they spend watching TV or listening to music. Because kids aren’t as active as they used to be, their attention spans are getting much shorter. The Attention Economy says that the amount of time people can pay attention has dropped by 15 seconds. But what’s important is that this kind of attention span is much better than playing games, which are usually a waste of time and money.
So, if we look at this issue from the point of view of an investor, there is a huge chance that ROIs in the Web3 gaming industry could double. People who have grown up with gadgets like AI and VR are interested in technologies that look to the future. And making it possible to pay for skins in modern online games is a deal that will make investors millions of dollars.
Let’s finish this article off with an example, like Axie Infinity. This is the most talked about web3 game that uses the “play-to-earn” model. Users pit small creatures called “Axies” against each other, and if they win, they can get tokens. These tokens aren’t like other tokens because exchange wallets can be used to turn them into real money.
- Users can also sell their Axies or breed them to make characters with useful powers in battle.
- This game is so popular because it lets you make money and show off your skills simultaneously.
Web3 games are the way games will be made in the future. They promise to give gamers the best experience possible. If you still need to figure it out, why don’t you give it a try?
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