Web3-based games, which represent a substantial departure from traditional gaming platforms, allow players to immerse themselves in the games in decentralized, innovative, and novel ways.
With web3 games, you can earn money for the time spent playing. The gamers can earn via cryptocurrency and NFTs both of which are quite popular at the moment. Decentralized gaming offers more access, an array of options, and more benefits to gamers compared to traditional gaming.
In traditional gaming, game content and other assets can be purchased or earned as a reward.
However, although one may have purchased gaming assets, the game operators still maintain full ownership. This in turn led to the rise of scammers and hackers who thoroughly exploited players.
Therefore, the development of web3 gaming which has significantly more strides than traditional gaming has filled a gap in the market that was much needed.
What Is A Web3 Game?
A web3 game is a digital game created and built on integrated blockchain technology. These games are often played to earn whereby the players earn a certain amount when they spend time playing the game. One of the advantages of web3 gaming is assets earned from the game can be traded across multiple platforms.
Web3 games unlike traditional gaming offer the players total control and ownership of the assets acquired. The transfer of assets is secure leaving little risk for the players.
The risks attached to web3 gaming are crypto regulation, the well-being of the economy, and the prices of cryptocurrency and NFTs.
There are plenty of crypto scams and fewer regulations and laws. With the advancement of web3, more laws should be set in place to protect the players’ earnings.
Unfortunately, the prosperity of these games is tied to the prosperity of the country’s economy as well.
Therefore, if the economy is going down then the game will be negatively impacted. Finally, the prices for cryptocurrency or NFT often fluctuate. These fluctuations can block some players from playing these games.
Web3 and Blockchain: Are They the Same?
Web3 and blockchain are different entities, one is a means (blockchain) to the end (web3). Blockchain is the technology that enables web3 to function. A blockchain is a collection of crowd-sourced data stored in information blocks that cannot be altered or blocked from the public. Blockchains are offering a way to make the internet more secure.
Using blockchain technology, web3 was created and all data are hosted on peer-to-peer networks. This mode of operation guarantees security and independence from manipulation and alteration that traditional internet or web2 did not have.
How Do Blockchain Games Work?
A blockchain game is a video game that uses blockchain technologies to remain decentralized and offer more features to the players. Some of these games are Cryptokitties, Axie Infinity, Decentraland, Alien Worlds, and Fomo3D.
Because most gaming platforms are centralized, gamers may only spend their game winnings – such as XP or in-game cash – in one game.
Blockchain games, on the other hand, feature a decentralized paradigm, which means that gamers own their data files and may use them in other blockchain games.
For example, if a player wins XP and weaponry in one blockchain game, they may opt to transfer their prizes to another game whenever they think about leaving. They might even trade or sell them to another gamer.
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Top 3 Features Of Web3 Gaming To Inspire You!
With many web3 games in the market here are a few features to consider when choosing a game.
1. Transparency & Availability
Hosted on blockchains, games on Web3 ensure complete security. Peer-to-peer hosting ensures that the public has all the information and none of it is restricted or hidden by one party.
These games are easily accessible and available for interested gamers. It is easy to buy a cryptocurrency and set up a wallet to begin playing.
2. Gamer-Centric Experiences
Web3 games are centered around the player’s experience. Buying tokens is a relatively easy process and so is trading the said tokens.
The earn-as-you-play module is a big motivator for many players. Since the main focus is the player, the game is designed in all its aspects, to cater to a gamer’s passion and skill, which makes it not just enjoyable to play, but also worth the time spent on it.
3. Seamless Asset Movement & Control Over Ownership
The primary feature of Web3 is ownership. All assets acquired in a game can be easily transferred and used in a different game. The total control of ownership makes the game even more appealing to the players.
Decentralized Gaming And Its Components
Decentralized gaming focuses on creating games using blockchain technology. By doing so, the players attain maximum benefits and play on a safe and secure system.
Unlike traditional gaming which operates on a central server, decentralized gaming uses a peer-to-peer connection. The system is easier to use and the game developers can introduce more novelty features.
Some of these features are:
- Blockchains. a blockchain is a collection of crowd-sourced data that is securely linked together and allows the transparent sharing of information and internet use without restrictions.
- Cryptocurrency., Unlike traditional gaming where you make purchases using fiat currency, you get to make transactions and purchases via cryptocurrency. This is especially convenient as more people are mining cryptocurrency.
- NFTs. In decentralized gaming blockchain games allows you to turn your in-game purchases into NFTs. This is done through an earn-as-you-play mode that has proven profitable for avid players.
What’s The Difference Between Web2 Vs. Web3 Gaming?
Web2 games rely on a central server while web3 games use multiple servers. Web2 games have more limitations compared to games on Web3. It is also harder to introduce player-centered features to web2 games.
- Web2 Games. These games have limitations on ownership of assets in the game, unlike decentralized games where players have complete ownership.
- Web3 Games. Web3 offers more control to the players such as trading tokens, using the tokens or NFTs across different platforms, and ownership of tokens. Web3 offer complete security as blockchains are hard to hack compared to one central network.
Unlike Web2, where the actors and developers enjoy the profits all by themselves, Web3 enables players to earn through NFTs, cryptocurrencies, and more. You get complete security and privacy for your financial and personal data.
How Do You Upgrade From Web2 To Web3 Gaming?
1: In-Game Assets’ Tokenization
Tokens are one of the greatest features of web3 games that attract more players. Therefore developers can start implementing a system of integrating tokens. In web2 games.
They can do this by tokenizing assets like avatars, weapon upgrades, maps, and treasure chests. By doing so, players will be able to trade these tokens or sell them as they please.
Are you a web designer? Improve your portfolio by taking a look at examples of beautiful and effective game design portfolios.
2: Transform Games To NFTs
Web2 gaming companies can upgrade to web3 by turning the games into NFTs. This will prove beneficial in the long run as players and developers will both benefit. Consequently, web2 gamers will be able to establish gaming communities.
Check out a list of popular Web3 companies right now.
3: Develop Games Possessing NFT Traits
Incorporating NFTs into web2 gaming will upgrade the games from being regular to having the unique draw web3 gaming possesses.
These NFTs can be incorporated as special features in the game to be unlocked on higher levels. This in turn will revive web2 games and create a bridge between the two.
How Do You Make Money From Web3 Gaming?
For a long time, gaming was purely recreational. With the emergence of blockchain gaming, video games have evolved into much more. In particular, blockchain technology allows users to gain ownership of in-game data and generate income while playing games.
Although blockchain gaming remains in its infancy, several options exist for those looking to make money gaming.
Here are some of the best ones:
- Rewards. You can play games with rewards in a play-to-earn system. This is the most simple way to earn money with web3 games.
- Breed Game Characters. You can breed game characters to create a new NFT which can be sold. This can take some time, but the future income deserves it.
- Buy Metaberse Land. Purchasing Metaverse land is yet another way to make money. One example is the web3 game Decentraland.
- Trade with NFTs. Players can trade NFTs in exchange for real-world value and profit.
- Sell In-Game Items. Some players create and sell items in-game. The better your items, the greater your income.
- Invest in Blockchain Games. People who do not want to play games can invest in blockchain games by purchasing tokens and staking them.
These are not, by any means, the only ways people are making money with Web3 gaming. There are more opportunities. Including people who become freelancers to provide skillsets needed in the industry, as well as those who create art galleries in the metaverse with game components and more.
Benefits And Challenges Of Web3 Gaming
Benefits
- Data ownership. The decentralization of games ensures that web3 gamers maintain complete ownership of the data and assets collected.
- Get Paid In Crypto From Gaming. Earn money from playing games by collecting cryptocurrency. This crypto can later be converted to fiat currency.
- Use and Trade NFTs. Web 3 games allow you to collect and trade NFTs across the metaverse
- Be a Member of the Metaverse Community. With the growth of the metaverse, games on web3 offer a means to become part of that world
Challenges
- The Play-To-Earn Option Is Unsustainable. It generates an unsustainable pyramid scheme-style structure in which new participants invest solely to develop and sell digital commodities to others who invest behind them.
- Primitive Blockchain-First Games Are Not Fun Anymore. The Blockchain-first games become redundant as people choose more recent games.
How Is Web3 Technology Changing The Gaming Industry?
The gaming industry is constantly developing. The introduction of blockchains, NFTs, and cryptocurrencies further boosts the industry with more players signing up.
Players are gaining more control compared to traditional gaming.
With decentralized systems, web3 gaming is more accessible. Unlike traditional games, games on web3 prioritize user experience.
These games offer more incentives to players and offer better support ensuring that the players have a seamless experience each time.
Web 3 Gaming: The Future of Gaming!
Games on Web3 are proving to be the future of gaming as they offer more features compared to traditional games. The implementation of blockchain technology makes the games even more lucrative for developers.
