The rise of blockchain technology has revolutionized the gaming industry, bringing in a wave of innovation that is helping to shape an exciting new segment of gaming which will be known as Web3 gaming. This new type of gaming is enabled by decentralized protocols and tech stacks, giving gamers ownership of their in-game assets, better opportunities for monetization, and more exciting gaming experiences.
Now, several gaming industry presidents, including those from Polygon and Immutable, are predicting that Web3 gaming will be able to onboard up to 100 million gamers in the next two years. This prediction comes after a surge in the popularity of Web3 gaming, and increased investment in the space. Opinion leaders such as Polygon and Immutable are confident that the technology and associated operations are ready to power this growth.
As per their predictions, the key driver behind this exponential growth comes down to user experience. Web3 gaming is designed to offer superior gameplay capabilities and better monetization opportunities to help attract new users. Powered by blockchain-based protocols and deterministic transactions, games such as Gods Unchained, MLB Champions and Guild Masters operate entirely on the blockchain. This improves the security of the game, as well as its transparency, with the data being written directly to the blockchain ledger.
In addition, blockchain technology enables the secure scarcity of digital assets within the game, as well as providing gamers with the ability to trade or sell their assets on secondary markets. This creates more meaningful experiences for gamers, and helps to engage them for longer periods of time. While blockchain technology is powering many of these benefits, Web3 gaming also involves several other innovative technologies such as NFTs, DeFi, and AR/VR integration.
The rise of Web3 gaming has not gone unnoticed, with blockchain gaming platforms and related companies seeing record investments in the past 12 months. These investments in the gaming space, combined with the improved user experience, will open the door to a massive uptick in gamers entering the blockchain space in the next two years. Of course, there will be challenges along the way, but with increased investment and more innovative solutions, Web3 gaming looks set to revolutionize the gaming industry in the very near future.
