The gaming world has seen a multitude of developments both in terms of technology and implementation. The differences between the games that were made at least a decade ago and those released today are vast and enormous. The transition from 2D to 3D, virtual reality (VR), augmented reality (AR), the inclusion of NFTs and digital currency, web 3.0 gaming and so on are some technical breakthroughs.
As the industry moves from F2P (free-to-play) to P2E (play-to-earn), the dynamics of the gaming industry are already changing drastically. So, it is no surprise that the potential of web 3.0 is opening a world of possibilities in the gaming sector, prompting many experts to stay involved in the industry’s growth.
In this article, we will discuss how web 3.0 can change the gaming industry. But, first, let’s understand what web 3.0 gaming is.
What is web 3.0 gaming?
Web 3.0 gaming is a decentralized gaming process where the gaming platform activities, particularly the ownership of game assets and decision-making in all areas of gaming are delegated away from any centralized entity. These games are built and integrated into blockchain technology to make a more secure, transparent and fair gaming experience. In web 3.0 gaming, gamers can use cryptocurrencies to buy virtual assets and services, and all the transactions are recorded on the blockchain. As a result, no centralized server can be hacked and all transactions are transparent, making a more secure gaming experience.
Relationship Between Web 3.0 on the Gaming Industry
The internet is becoming more user-friendly, accessible, and decentralized with the advent of web 3.0. These changes result from recent advancements in AI, blockchains, and cryptocurrency. In addition, web 3.0 has changed the gaming notion, allowing game app developers to create futuristic and creative games based on web 3.0 technologies.
Asset Ownership
These days, almost every game has in-app purchases. These purchases can be used to get a royal premium or other goods like the skin of products. Yet, there is no limit on the number of these things, and multiple users who want can acquire them via in-app purchases (IAPs). Web 2.0 gaming has the issue of not providing players ownership of their purchases, despite the fact that they are still being paid for.
In web 3.0 gaming, blockchain technology gives players ownership of the in-game assets, which provides them with the authority to have complete control of these items. Furthermore, a limited amount of these assets allows users to sell them to other gamers. After a player makes an investment, the asset no longer belongs to the game but to the individual who made the purchase. This means that the player will retain the asset even if the game does not work in the future or if they quit.
Interoperability
The traditional gaming ecosystems are siloed. This means that the games are not able to interact and exchange information or assets. The assets you purchased in one game cannot be used in another. However, in web 3.0 gaming, NFTs and blockchains allow true ownership and interoperability in gaming, giving the greatest opportunity for gamers. They can bring their assets, weapons or NFTs in the form of skins or avatars in other games and use them. As a result, this increases interactive communication among players within the game as well as outside apps.
Play-to-Earn Model
In the era of web 1.0 and web 2.0, playing games had zero earning possibilities. Though players can buy an unlimited number of in-game items through IAPs; nevertheless, despite paying for the items, they can’t possess any of them in online games. However, many enthusiastic players remain unconvinced, so they monetize their gaming skills through e-sports and online streaming.
However, the story has changed thanks to web 3.0 games. This technology uses the play-to-earn (P2E) model, in which gamers are required to put up personal funds in the marketplace to buy an item and can sell it to other gamers either within the game or outside the virtual world. When a player buys an asset in web 3.0, the technology will link the asset to the gamer rather than the game itself, securing the money players have earned and the valuable items they have in their accounts.
Player-Centric Experiences
Undoubtedly, Web 3.0 will make the gaming industry player-centric. Any components or features in web 3.0 that will be added to the game will base on the preferences of the players. For instance, play-to-earn games illustrate how gamers can make the most of games to make money. The popular web 3.0 game Axie Infinity is a famous example of a play-to-earn NFT blockchain game in which gamers can monetize their gaming expertise and improve the ecosystem. Furthermore, the self-sovereignty feature in web 3.0 games also emphasizes how they consider benefits for players.
Freedom of Modifying
Modifying games on Web 2.0 was a massive task. Also, any changes usually undermine the rules of service, which is possibly why developers were forbidden from making any modifications to the game.
Enters Web 3.0 – which promotes freedom and open space when it comes to changing the game. As a result, any game development company will no longer be required to follow the strict norms and regulations of the central game administrators in order to create gaming components democratically. On top of that, it guarantees a customized environment as per the player’s needs.
Technologies that will Help in Making Web 3.0 Gaming a Reality
It is impossible to implement web 3.0 in the gaming industry until companies adopt a certain set of technologies. These do not comprise the conventional technology stack. These are disruptive technologies based on machine intelligence, robotics, virtual reality, digital currencies, automation, metaverse, and so on. The following section will cover certain technologies a game needs to access web 3.0.
NFTs: NFTs include digital data stored in a blockchain data structure. These can be stored in a wallet and can be transferred between wallets. Games based on blockchain will have the ability to purchase in-game assets, which will be converted into NFTs. The rarest NFTs can be unlocked by the best players and can sell to other gamers.
Blockchain: Blockchain is open, immutable, and permissionless. Blockchain can increase reliability and transparency between players and gaming companies. Using this technology, game developers can build more safe and more transparent games with in-game assets that the gamers own.
Virtual reality: VR is another aspect that developers can employ web 3.0 to create innovative gaming solutions. Here, gamers can create their own 3D avatars in the metaverse, allowing them to explore more of the game, shop for virtual goods, and so on.
Tokens: Web 3.0 technology will also transform gaming with digital tokens or cryptocurrencies. Gamers no longer need a third party to process their payments, as they can process the transactions without the need for any regulating body. This means that players can directly pay from their digital wallet using any cryptocurrency after making enough purchases.
Final Thoughts
Web 3.0 gaming which incorporates both the metaverse and blockchain technology, is a revolutionary step that will drastically alter the entire gaming landscape. Regardless, Web 3.0 involves interoperability between blockchains and subchains; it allows developers to create highly customized games for their intended audience. Furthermore, through distributed ledger technology both players and developers will result in more equitable rewards and high-quality published games.
