I think that web3 gaming will be a larger multi-trillion dollar market than the metaverse.
At least based on the current evidence.
Collating some news in the web3 gaming:
- Creator of PubG announced a new blockchain-based game called Artemis that will have NFTs and a metaverse. (PubG has ~30m daily players).
- Creators from popular titles like Grand Theft Auto and Call of Duty launched a new web3 gaming studio, Random Games.
- Epic Games rolled out the first 2 NFT games, Star Atlas and Blankos, on the Epic Games Store (which has 190m+ users).
- Sega, the creator of Sonic, announced its first blockchain game.
Seems like web3 gaming is picking up steam despite the bear market.
As it rightly should.
Gaming and entertainment is a huge market.
We all game to some extent.
Maybe not right now, but occasionally, when we were younger or when we have the time.
I think the future of web3 gaming is bright, but not like what it is now.
Its like a caterpillar turning into a butterfly.
What we are all seeing in web3 gaming is the caterpillar.
Sure it may be promising and fascinating but it is nothing compared to the beauty of the majestic butterfly that may come out of the cocoon.
What we have to do is not screw up the caterpillar so that it cannot turn into a cocoon.
Web3 gaming shouldn’t just be about gametising everything.
Throwing in NFTs, in-game credits, turning games into mini-casinos or better yet, into mindless money-making machinery.
In other words, gamers shouldn’t play a web3 game simply because they can “grind longer and make more money”.
Games are … games.
They are supposed to be fun, care-free, entertaining and have an element of “winning” something.
It could be to complete the quests, hit the milestones, save the damsel in distress, do something in the shortest time possible or attain the highest score possible when competing with other players.
Remember back in the day when you played Super Mario because the game was interesting, the animations were cute and the silly but catchy tunes made it fun for you as a kid?
Or when you played Age of Empires and Red Alert 2 because the graphics were just mind-blowing (for that era please) and you immersed yourself into the storyline.
Yep, that should be the way.
Sure, tokenizing and monetizing games in web3 is an interesting mechanism to get traction and attention in the short-term, but it is just the beginning.
“Michael Anderson, co-founder of Framework Ventures, believes crypto gaming can be “one of the largest forms of employment in the world”.”
“Michael thinks gaming will definitely be the category to bring the next 100m users to Web3.”
I admit it is a powerful and simple way to onboard web2 users into web3.
Want to know more or participate in web3?
Sure thing, play a game and be a part of it naturally.
Further, the boom of NFTs will organically find its way to meet up with gaming.
We are already using in-game credits, avatars, items and purchases in web2 games.
NFT and web3 gaming is a natural and symbiotic relationship that will feed off each other.
We need to find that intricate balance between allowing players to participate and own vs have real gaming experiences and have fun in the process too.
Though I am appalled at some of the weird manifestations of web3 games and how an entire generation of youths are just mindlessly “grinding” away to earn a few dollars), I have to admit that it does provide a way out for those who are less well off.
I am very hopeful that web3 gaming will emerge as a beautiful butterfly in due time.
For now, let’s be patient and give it a bit more time.
Is web3 gaming going to be huge in the future?
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