Gamevolution Unleashed: Unveiling the Seductive Power of Web3 and Crypto Gaming

Web3 games have come a long way from being tedious and repetitive to engaging, immersive and addictive. Traditional Web3 games are built in a manner where the blockchain technology is first put into consideration and be used as a backbone of the game. Current Web3 games are built on a totally different breath and magnitude.

Instead of focusing on Web3, successful games focused on the gameplay and used Web3 as a tool and secondary kingpin. Most people know metaverse as a Web3 game but few actually realise metaverse has existed decades without blockchain. In fact, the metaverse can be so much more than just pure gaming and entertainment.

Below are the 10 key factors that show how Web3 revolutionised the gaming industry.

1.True Ownership of Assets

Web3 technology allows players to have true ownership of in-game assets through non-fungible tokens (NFTs) or blockchain-based tokens. This means that players can buy, sell, and trade their virtual items outside of the game environment, giving them more control over their digital possessions.

2. Play-to-Earn Models

Web3 and cryptocurrencies enable play-to-earn models, where players can earn real-world value by participating in games. Through blockchain-based economies, players can monetize their skills and in-game achievements, earning tokens or cryptocurrencies that can be traded or converted into real-world assets.

3. Transparent and Secure Transactions

The use of blockchain technology in gaming provides transparency and security in transactions. Smart contracts ensure that transactions are verifiable and cannot be tampered with, eliminating fraud or cheating possibilities. This enhances trust between players and developers and provides a fair and transparent environment for all participants.

4. Ease of Payment and Global Currency

USD are being extensively utilised in most game rewards and payment as it is a global currency. Many regions may not be able to process USD seamlessly with lags and delays. Cryptocurrency has no restrictions and there are an increasing number of channels to exchange between cryptocurrency and local fiat currency.

5. Interoperability and Cross-Platform Integration

Web3 enables interoperability, allowing players to transfer assets and progress across different games and platforms seamlessly. This means that players can use their virtual items or characters in multiple games, enhancing their overall gaming experience and reducing the fragmentation of virtual assets.

6. Decentralised Gaming Infrastructure

Web3 enables the development of decentralised gaming platforms and ecosystems. Instead of relying on centralised servers, games can be built on decentralised networks, reducing downtime, improving scalability, and enabling true peer-to-peer interactions among players.

7. Community Governance and Ownership

Web3 technology allows for community governance and ownership models, where players can actively participate in the decision-making processes of the games they play. Through decentralised autonomous organisations (DAOs), players can have a say in game development, updates, and economic systems, creating a more engaging and inclusive gaming experience.

8. Crowdfunding and Tokenization of Game Development

Web3 enables decentralised crowdfunding and tokenization of game development. Developers can raise funds by selling game-specific tokens or NFTs, giving early supporters and investors a stake in the game's success. This fosters a closer relationship between developers and players, as well as a sense of community ownership.

9. Dynamic and Extendable Game Content

Being decentralised has its perks of balloting out a boring feature or balloting in a highly sought after highlight. Smart contracts can be extended with secondary logic as long as it follows the principle policy where the developers can create as much content as they want. External game developers can be rewarded directly from their development without centralised delay.

10. Anti-cheating Measure with Community Updates

Every game can be hacked, trained, have its saved game edited or input of direct cheat code. Being in the blockchain space will ensure accountability and have progress monitored much easier than a centralised environment. The community can also report anomalies or proposed remedies to ensure better fairness in the gameplay.

The future of Web3 games will not stop at this point, it however, will not replace traditional games completely. Web3 capability serves as a tool for games that require particular functions and is not the core framework for gaming. Player engagement is still the most crucial factor for a game. Web3 does not create challenging, interactive or visually pleasing gameplay.

Gaming has come a long way from pure entertainment to extrinsic rewards. While the usage of AI and Web4 in gaming is still immature, it will create an exponential effect in the near future. To further expand this space, the combination of Web3 and Web4 will create unimaginable possibilities.