According to Ed Chang of Ava Labs, all games can incorporate blockchain; however, challenges occur in building web3 games and play to earn mechanism.
Web3 gaming, an innovative combination of traditional online gaming with blockchain technology, has been rapidly expanding in recent years. Game developers and players have yet to fully embrace its potential. The industry is facing ups and downs, and if it wants to usher in a more widespread age of acceptability, it will need to strategically resolve a wide range of concerns.
Gaming studios have struggled for years to improve their reputations after the "play-to-earn" era and win the trust of Web 2 gamers. However, investors and businesses are putting major emphasis on attracting the next generation of users to cryptocurrency and the broader web3 sector.
Challenges in Play and Earn Strategy in Web3 Gaming
According to Ed Chang, Ava Labs' head of gaming, all games can benefit from incorporating blockchain features. However, challenges remain in the market when it comes to building web3 games and deciding whether to put the "play" or "earn" component first. Web3 services are also being developed to improve the user experience by making it more accessible and safer.
The disagreement over how much emphasis should be placed on the "play" and "earn" components of Web3 games is a major problem in the sector. A senior associate for gaming at the Solana Foundation, Tiffanee Dong, identifies the significance of finding this balance. It is essential to develop a compelling game while incorporating blockchain and decentralized technologies. We should keep in mind that making money shouldn't make you compromise with quality and fun.
Chris Akhavan, chief gaming officer of Magic Eden, thinks its still early days for the web3 gaming. Game developers commonly use metrics like Installs, Daily Active Users, Retention, and Lifetime Value (LTV) to track expansion, but there are also web3-specific metrics like Wallet and Marketplace usage.
The greatest challenge in web3 gaming is the complicated procedure required to create engaging games. Studios are hard at work on the next batch of web3 games, so please be patient. As web3 ownership and economic alignment between players and developers grow, experts predict a decline in the play-to-earn paradigm.
Improving the User Experience
The user experience (UX) has been a major roadblock for Web3 gaming. The hassle of creating a new wallet and associating it with the gaming platform is something that Immutable co-founder and president Robbie Ferguson freely admits is a downside. Streamlining this procedure is critical for minimizing friction and maximizing customer satisfaction. Broader adoption may be possible if the onboarding and transaction processes are simplified.
Play-to-earn Strategy
The "play-to-earn" approach, which became widespread in the Web3 gaming business between 2021 and 2022, is undergoing a major change. Carlos Roldan, CEO and co-founder of Elixir Games, observes that the industry has misapplied the term and associated it with schemes aiming to profit from the trend. Today in the gaming business, more accurate phrases such as 'play to own,' 'play and earn,' and 'win to earn' are being used, as they better represent the actual mechanics of the games. The rebranding is an effort to improve confidence and clarity in the game.
Web3 Gaming Predictions from Different Countries
Experts consistently point to Asia, South Korea, and Japan in particular, when predicting which areas or nations are most likely to lead the charge in the adoption of Web3 gaming over the next five years. The success of Web3 gaming models is expected to be achieved in these nations with a robust gaming sector before they are introduced to Western markets. Asia is at the forefront of this transformation because of its powerful gaming culture and growing interest in blockchain technology.
How to Improve the Web3 Gaming Infrastructure
The future of Web3 games isn't clear because of a number of problems and the volatility of cryptocurrencies. Fixing things, such as addressing issues with the user interface and striking a good balance between enjoyment and profitability, is necessary. But recently, there has been a change in the industry toward making games that are fun and include blockchain technology without changing the way the player plays. Asian web-based video game makers' success shows that the area has a bright future.
Final Thoughts
All gaming genres, particularly central ones with robust economies, can benefit from web3 ownership. Developers need to fuel excitement for their games and put their efforts into making compelling experiences for players if they want to stand out in the market.
Simply put, web3 gaming has a bright future if developers can master obstacles like design, user experience, and monetization. The web3 gaming business is predicted to expand and entice mainstream gamers as more games are produced and released.
FAQ: Web3 Gaming Challenges and Opportunities
Q1: What is Web3 Gaming, and why is it gaining attention?
Web3 gaming is a fusion of traditional online gaming and blockchain technology. It incorporates blockchain features into games to enable players to own in-game assets and potentially earn cryptocurrency while playing. This innovative concept is gaining attention because it introduces new possibilities for game developers and players alike, merging the gaming and blockchain worlds.
Q2: Who is Ed Chang, and what is his role in the Web3 gaming industry?
Ed Chang is the head of gaming at Ava Labs, a notable figure in the Web3 gaming space. He provides insights into the challenges and opportunities facing the industry. His expertise helps shed light on the potential of integrating blockchain into all game genres.
Q3: What is the "play-to-earn" era mentioned in the article?
The "play-to-earn" era refers to a phase in the Web3 gaming industry when players could earn cryptocurrency by playing games. It gained prominence between 2021 and 2022 but has since evolved into more accurate terms such as 'play to own,' 'play and earn,' and 'win to earn' to better describe the actual mechanics of these games.
Q4: Who is Tiffanee Dong, and what is her role in the Web3 gaming sector?
Tiffanee Dong is a senior associate for gaming at the Solana Foundation. She emphasizes the importance of finding a balance between the "play" and "earn" components in Web3 games. Her insights highlight the need to create compelling gaming experiences without compromising quality and fun.
Q5: Who is Chris Akhavan, and what insights does he provide about Web3 gaming?
Chris Akhavan serves as the Chief Gaming Officer of Magic Eden. He suggests that Web3 gaming is still in its early stages and highlights the use of web3-specific metrics like Wallet and Marketplace usage. These metrics are essential for tracking the expansion of web3 games.
Q6: What are the challenges faced in Web3 gaming development?
Web3 gaming development is complex and time-consuming, leading to delays in game releases. However, experts predict a shift away from the play-to-earn model as web3 ownership and economic alignment between players and developers increase. The primary challenge is creating engaging games that seamlessly incorporate blockchain technology.
Q7: What is the significance of improving the user experience in Web3 gaming?
Improving the user experience (UX) is crucial for the broader adoption of Web3 gaming. Simplifying the process of creating wallets and linking them to gaming platforms reduces friction and enhances customer satisfaction. A smoother UX can potentially attract more players to the Web3 gaming ecosystem.
Q8: Which regions are expected to lead in the adoption of Web3 gaming?
Experts consistently point to Asia, particularly South Korea and Japan, as regions likely to lead the charge in adopting Web3 gaming over the next five years. These regions have robust gaming cultures and a growing interest in blockchain technology.
Q9: How can the Web3 gaming infrastructure be improved?
The Web3 gaming industry faces challenges related to user interface, game design, and striking a balance between enjoyment and profitability. To improve the infrastructure, developers are shifting towards creating games that seamlessly integrate blockchain technology without altering the core gaming experience.
Q10: What are the predictions for the future of Web3 gaming?
The future of Web3 gaming is promising, provided that developers can overcome challenges related to design, user experience, and monetization. As more Web3 games are developed and released, the industry is expected to expand and attract mainstream gamers, potentially revolutionizing the gaming landscape.
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