Trends In Web3 Gaming That Will Rock The Gaming Industry

The gaming industry is booming quickly and has tremendous growth potential. The populations with the highest penetration of online gaming at the moment are China, South Korea, and Japan. The number of gamers is expected to approach 3 billion by 2023. Over time, the gaming business has undergone further change as a result of technology’s expansion into the sector. With the development of web 3.0, the industry is already on the verge of a paradigm shift.

Not the one, this. The market for video games will expand over the ensuing years, reaching $200 billion by the end of 2023. By then, we anticipate the global games market to reach $200.8 billion, growing at a CAGR of +8.3%.

Gaming’s transition from “free-to-play” to “play to earn” is already altering the industry’s dynamics. It makes sense that the possibility of Web 3.0 is expanding the gaming industry’s options, and this has encouraged many specialists to continue investing heavily in the web3 game development company.

Web3 gaming industry trends that are transforming the game

Web 3.0 is simplifying, opening up, and decentralizing the internet, which is changing the game industry and market. These variants are the result of recent advancements in the fields, such as tokens, blockchain technology, and AI.

According to the statistics and the hype, the Web 3.0 era will undoubtedly usher in a time when players can purchase premium assets they own and sell them to other players either inside or outside of Web3 games. Web3 games are, to put it simply, here to stay. Who knows why? So we’ll just say read on!

1. Ownership Center

Because blockchain technology links assets to players rather than games, you are guaranteed to retain ownership of them even after a sale in the majority of Web3 games.

As an illustration, in the video game Axie Infinity, the currency $AXS is accepted as payment for in-game goods in the Axie marketplace. Last but not least, $AXS serves as a work token because it is used along with $SLP to produce new Axies. Breeding fees are presently 4 $AXS and go to the treasury, which will eventually be run by the $AXS holding community.

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Users with Ethereum wallets can freely purchase and sell the ERC-20 token $AXS. It can be bought or sold on a number of exchanges, including Binance and Uniswap.

Since all transactions are transparent using blockchain-based systems, this particular aspect of the Web3 gaming industry safeguards investments and ensures fair play in gaming environments where developers cannot easily take advantage of or exploit players’ card information. The best thing about this platform is arcade games like Slope unblocked games 76, vex 4 unblocked and tunnel rush unblocked etc.

The Web3 arena games provide in-game product ownership, digital scarcity, and the digital market, where each commodity has a limited supply and asset ownership is finalized by players following the transaction.

2. Possibility of earning money

According to a recent survey, India has become the country with the highest adoption rate of Web3 gaming, with 34% of its population having played P2E games and 11% planning to do so in the future.

Another noteworthy finding is that 38.1 percent of males and 29.2 percent of women respectively play P2E games.

In the modern Web3 gaming era, users can use their own money to purchase specific items from the market and then sell them to other players either inside or outside the game. Over half of gaming revenue comes from in-app purchases made through in-game IAPs. Even though there are an endless amount of in-game assets and they can only be purchased with IAPs, players in online games do not actually own any of these in-game items.

Web3 games, however, have altered the story so that now, when a player purchases an asset, the technology links the asset to the player rather than the video game, protecting not just the players’ cash resources but also the few assets they have on their accounts.

The ability to sell digital products to other players and store them outside of the game is just one more achievement for Web3 games.

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And this is one of the main causes of the fact that 41.7 percent of P2E players are between the ages of 18 and 34, giving them the opportunity to make a nice side income.

Briefly said, Web3 games offer the conceptual underpinning for the upcoming “play-to-earn” (P2E) trend.

3. Modification ease

It was a Herculean endeavor to modify games on Web 2.0 because their developers constantly seemed hesitant to do so. Additionally, alterations frequently violate the terms of service, which is possibly why members were forbidden from altering the game.

Enter Web 3.0, which promotes freedom and an open environment for game modification. It enables players to make adjustments to the game to suit their needs.

4. Interoperability

The cornerstone of Web3 games’ interoperability is “Bundling, Unbundling, and Rebundling.”

According to James Barksdale, CEO of Netscape, I only know how to earn money by either bundling or unbundling. Continue reading if it seems like everything is in Greek.

Individual songs from the album were unbundled by iTunes. Spotify then arrived and structured the songs into playlists. Almost all video games available today are heavily packed, but in the Web3 gaming environment, we’ll see part of this unbundled and rebundled.

The importance of our online self-expression and our digital identity is growing. An interoperable framework is necessary to carry our avatars between games. Whether it is a real island or a virtual one, the participants do not want to be cut off. Interoperability is essential if Web3 game platforms and the metaverse are to be widely used and accepted because they require mobility and connectivity.

Additionally, Web3 games have been moving in the same way by making it simple for players to transfer their digital assets in the form of non-fungible tokens (NFTs), which enable interactive communication between other games and occasionally even external applications.

Web3 games will, in general, cover everything mentioned below, including performance, competitiveness, directing, dungeon-mastering, level-designing, live roleplaying, inventiveness, etc. Sooner or later, we’ll begin to see a hazy line dividing players from designers and begin to investigate brand-new bundling and unbundling techniques.

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5. Possibility to have an early impact

The audience has accepted influencers into their hearts. Web3 gaming influencer is a term that, if you were unaware of its existence, you immediately need to add to your dictionary. Early Web 3.0 adoption by gamers offers a wide range of benefits versus late adoption. The gamers who are embracing Web 3.0 now will have a significant influence and leave a lasting legacy for other gamers in the new arena. In plainer terms, Web3 games are creating networking chances for everyone, including influencers, creators, developers, and players, hence creating a demand for additional jobs.

Check out the following to learn more about the Web3 gaming influencers:

Jake, nicknamed “On Chain Gaming,” is a gamer, investor, and cryptocurrency lover. He is familiar with the P2E industry’s ins and outs, and with his in-depth technical analytical abilities, he is a wonderful fit for new gaming firms who wish to post in-depth information about their project online.

Mark Fischbach is the owner of Markiplier. He is well-known on his channel for conducting live charity broadcasts during which he raises money while engaging in video game play. He is currently a part of the Maker Studios network Polaris. He has approximately 32 million YouTube subscribers and has established himself as a global brand in online gaming. Although working with him won’t be easy, it will undoubtedly change the course of a P2E project.

With the power of interoperability, web3 development company have improved the gaming business and made sure that gamers have an immersive experience. And we at Suffescom Solutions have always been in support of game-changers who are eager to use the correct Web3 flavors to bring about a radical change in the gaming sector. So, if you’re looking for the best support for your startup, you can rely on us.

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