Web3 Gaming, Challenges, and the Current Standing

The last few weeks have been extremely busy. Besides adding new content to our P2E game portals, I am also checking all the game data for these games. interesting, to say the least. These learnings give me a lot of confidence in what W3 Play is trying to achieve. Not only as a marketing platform for all these blockchain game developers out there but also as a data driven company. V2 is in development, and I will keep you posted.

This week I am a bit stressed in time and trying to give you a few interesting news items that landed in my inbox.

Web3 Gaming Is An Evolution, Not A Revolution

Topics of Today!

• Challenges and dilemmas for investors in the Web3 gaming domain
• The promise blockchain gaming holds
• Microsoft invests in Wemade, a blockchain game developer
• Square Enix Announces it's First Ever Ethereum-Based NFT Game
• Decentraland’s Annual Metaverse Music Festival
• The Most Anticipated Upcoming Play to Earn Games 2023

Play to earn, and blockchain gaming is a new technology that has captured the attention of investors as well as gamers for the past couple of years.

The thing with this new technology is that there are plenty of new projects, and several of them are bound to fail.

One such example is Axie Infinity, which enjoyed huge popularity and a huge fan base but is now down more than 92% in value. The same is the case with Decentraland, Sandbox, and others. The projects are bound to fail in a brand-new technological domain that is also high-risk.

However, the evolutionary process isn’t stopping anytime soon, despite the challenges. Web3 and blockchain technology are the future of gaming. A passive hobby is gradually turning into an active one with earning potential, real-world value, immersive experience, ownership, decentralization, and most importantly, community building.

There is a lot of potential in blockchain gaming, and no one denies it. That is the reason more and more big-shot developers and companies are investing in this domain.

The likes of Microsoft, Square Enix, and others have directed the flow of funds toward blockchain projects. Microsoft is always on the lookout for new venues in tech and gaming in which to invest.

Recently, it made investments in Korean blockchain game developer Wemade. Wemade’s popular Web3 project is an MMORPG blockchain-driven game called Mir4.

Square Enix is also a renowned name when it comes to gaming, its flagship project is Final Fantasy, and Tomb Raider enjoys massive popularity throughout the globe.

Now, Square Enix enters the transitional phase from Web2 to Web3 with its new NFT gaming project, Symbiogenesis. It is an Ethereum NFT web-based game. Additionally, the developer has clear plans to back this franchise with a massive ecosystem that will drive the game.

The release date isn’t officially out there as of yet. However, Square Enix did reveal the launch window where we can expect the game to hit the markets during the spring of 2023.

As for the game or gameplay, there isn’t much information out there at the moment. The only information is that the game is interactive, narrative-driven, and web-based. Moreover, players will have their own NFT avatars and engage in missions revolving around questions of monopolization and distribution of resources, and several other exciting game modes backed by blockchain.

Previously, Square Enix announced?Final Fantasy NFTs on the game’s silver anniversary. These?NFTs?will also launch next year alongside the much-anticipated game.

Next year will see some of the most promising upcoming NFT blockchain games ready to roll out in the market. Moreover, the P2E domain will also see directional changes, from play to earn to play and own. A lot of new, impactful stuff will happen next year. You can have a look at some upcoming play to earn games that you would definitely want to have on your checklist here.

Apart from blockchain gaming, metaverse projects are also showing promise with virtual social events.

Decentraland’s annual Metaverse Musical Festival is set to rock the virtual world again this year. The event will kick off on November 10 and last until November 15. A total of more than 150 artists from around the world will participate in the metaverse event, representing every music genre out there. Some of the prominent names are Izzy Bizu, Bjork, and several others who will perform.

I might be too busy, but I would recommend you take a look. The name is Web, Web3!