What is web3 gaming

By abhinay | Uncategorized | July 18th, 2022

Web3 Gaming: The NextGen Internet and its New Virtual Economy

From the humble video games in the early decades of gaming, to the more complex multiplayer and crypto games of the present day, the psychology around the games have evolved alongside a transforming gaming industry.

Today, players demand better experience and bigger roles. They spend a substantial amount of time online to buy assets that they aim to own.

Apart from demanding freedom to shape the future course of gaming, the majority of the players are craving for exotic experiences. The demand for fair practices when it comes to asset ownership, and the desire for transparency in transactions are part of an evolving trend.

Web3 gaming was born to address such issues that limited the participation and benefits of players, and to make gaming more inclusive and rewarding for users.

 

Web3 Gaming: How does it work?

The term Web3 gaming refers to a novel approach to decentralized gaming. Digital games that include blockchain technology into their economies are known as Web3 gaming (also known as play-to-earn, play-to-own, crypto, blockchain, or NFT games).

Games in the Web3 genre are characterized by either Non Fungible Tokens (NFTs) or Fungible Tokens (FTs) being owned by players (stored in custodial wallets). NFTs are unique cryptographic tokens which can help prove the ownership of the content be it music or images. NFTs in blockchain games let users take ownership of components inside the game. These can range from guns, clothes, props, planes, lands, cars, characters etc.

Far from regular games, where in-game components are solely owned by the creators, i.e. the companies, NFTs let the players be the owners of the assets which they earned or purchased within the game. Once you become the owner of an NFT, you have the freedom to sell it even outside the original platform where the asset was created. This is a feature which is not possible with the Web 2.0 games.

This innovation has the practical implication that player properties are tangible and may be sold and exchanged on marketplaces just like any other commodity. The system typically operates within a closed environment that prevents players from exchanging in-game things for real-world value.

In early web3 game development, games like Axie Infinity, the introduction of blockchain infrastructure has led to tremendous acceptance and ridiculously high retention rates.

 

Fundamental Characteristics of Web3 Gaming

 

An examination of the salient characteristics of Web3 gaming seems like the logical next step before providing a list of Web3 games. Better rights of ownership, control, as well as flexibility in exchanging in-game assets & collectibles are available to players in Web3 games. Thanks to the new gaming paradigm.

Here are a few of the most common features of today’s Web3 games.

 

1. Movement of assets seamlessly and the control of ownerships

Control over ownership is crucial in blockchain games because of the autonomy they provide. With the help of NFTs, players were given the ability to take full control of their virtual possessions. Users can compete for compatibility of their in-game assets while still maintaining full ownership of their assets thanks to Web3. For instance, gamers who purchase a game on one platform can utilize their purchased in-game items on another.

 

2. Availability and Transparency

One of the most eye-catching aspects of Web3 gaming is the emphasis on the dispersed nature of the system. You are not reliant on a single server like you are in centralized games. Voting agreement is also used in blockchain-based games to implement new features.

For this reason, Web3 games can be more open. Moreover, the Web3 gaming environment operates autonomously with little interference from central authority, guaranteeing excellent availability. You can also take use of block minting & strong and resilient data storage facilities, both of which improve scalability and decrease the likelihood of interruptions.

 

3. The gameplay experiences are play-centric

The leaders in Web3 gaming demonstrate how the new gaming system flourishes when games are customized to each individual user. There are several obvious ways wherein Web3 games have been optimized to provide the most value to their users. Play-to-Win games, for instance, demonstrate how players can use games to their financial advantage. Web3 games are notable for their player-centric design, and their emphasis on player autonomy is just one example.

 

The Support System for Web3 Gaming

One of the most talked-about aspects of Web3 gaming on cryptocurrency message boards is the technology behind its creation. The following technologies are prominent in the stacks for Web3 games.

 

● Digital Wallets

The web3 dApps would be listed as the first component in the best Web3 games. The use of Web3 libraries facilitates player & developer participation in blockchain networks. Games can have their assets and financial dealings supported by the resources provided by Web3 dApps or libraries.

 

● Smart contracts

Blockchain networks are the life and soul of Web3 games you see today. They aid in the establishment of guidelines for making decisions and casting ballots on matters of game balance as the game develops. Generally, developers utilize Remix IDE in Web3 game projects for developing, compiling, & deploying smart contracts. But on the other hand, you have the benefit of tools like Hard Hat, Brownie, & Truffle for basic local development environments.

 

● Media standards

The importance of open media standards in developing Web 3.0 gaming in the crypto ecosystem cannot be overstated. Considering that Web3 games use texts, music, video, & 3D environments as vectors for powering dApps, there needs to be open and compatible standards for media design.

 

● XR Hardware

The peak of the Web3 gaming technology stack is the hardware for augmented and virtual reality. To improve Web3-based gaming, XR hardware like haptic gloves, smart glasses, & scanning sensors can be used. In reality, XR gear can play a crucial role in bridging the gap between Web3 games and the wider web3 ecosystem, including the metaverse.

 

● Node Providers

Node providers, also known as Web3 providers, are often cited as an example of the benefit of blockchain gaming. Nodes are a crucial part of the Web3 developer software platform, and Web3 service providers assist extract game data from the blockchain. First and foremost, nodes are required for Web3 frameworks or dApps to communicate with smart contracts.

 

Web3 Game Development Services

A member of the Ethereum community coined the phrase in 2015. A DAO is a piece of code that operates on a distributed network. The rules for making and carrying out decisions are included. Therefore, it’s a system wherein administrative tasks are handled according to predetermined guidelines stored in digital contracts.

A DAO, or Decentralized Autonomous Organization is an alternative organizational structure that aims to eliminate the need for top-down leadership. Contractual obligations and business logic rules can be put into effect using smart contracts.

 

The varieties of Gaming DAOs/Decentralized Autonomous Organizations

 

● Developers

Those DAOs that have actually started making games are the pioneers and, arguably, the most ambitious form of gaming DAOs. This is the point where many seasoned professionals in the field start to raise concerns. What do you think? Would it help to make a great game if a large community had provided inputs during development? In other words, can participants (or investors) really predict success for a work in progress?

AavegotchiDAO, Dope Wars, & Star Atlas DAO are just a few of the DAOs trying out new ideas in this field. Given the lofty standards it has set for itself, Star Atlas may be the most intriguing of the three. Unlike the previous examples, Star Atlas aspires to be a AAA-quality MMO on a massive scale. Only time will tell if their lofty goals for the game are achievable, but excitement for Star Atlas has already spawned a number of fan-focused DAOs like Final Frontier as well as Interstellar Alliance.

 

● Accelerators and Incubators

The use of DAOs in the form of incubators & accelerators is also becoming more common in the gaming industry. These DAOs want to help the entire web3 gaming community thrive by providing resources to startups, mentoring their creators, and providing financial backing for innovative projects.

The announcement of Game7 is the clearest case in point here. Game7’s mission is “to propel the Blockchain Gaming business through Grants, Education, and Strategic Initiatives,” and it has garnered the backing of some pretty big names in the industry, including BitDAO, Warner Music, and others. You should definitely read the full proposal, as it specifies in great detail the kinds of projects the DAO plans to sponsor.

 

● Gaming builds

Of the several gaming guilds represented, the largest is undoubtedly Yield Guild Games (YGG). Guilds have evolved from simple groups of friends to highly structured multi-game clans and even esports teams since the advent of web3 great successes like YGG. Since the introduction of pay-to-win games, however, guilds have become much more business-like. Many guilds function as investment clubs, pooling resources to acquire and stockpile virtual properties in games like Axie Infinity. These assets can then be used for yield production through lending to members and non-members, realized profit through sale, or held as speculative training and development plans.

 

Takeaway

Mingling blockchain tech, DAO and metaverse, the NewGen internet has transformed the gaming landscape and the financial aspects of the same. Web3 gaming has democratized gaming and is offering opportunities for players to reckon the industry more seriously. Games that can be played for real money, like the ones seen on a list of Web3 games, further demonstrate the potential of this medium.  More revolutionary services for Web 3.0 games are expected in the future.

Stay tuned with Juego Studios, a professional game development studio that focuses on 2D, 3D, VR, and Web3 game development services, art and design, Blockchain Gaming, NFT, AI, Metaverse production etc.