Web3 Gaming Industry Focuses on Mainstream Audience for Future Growth
Summary:
Web3 game developers emphasize the importance of mainstream audiences for the growth of the Web3 gaming industry. Industry veteran Jennifer Poulson stresses on the creation of appealing games that can draw regular gamers into the Web3 space. Traditional gamers have generally shown disinterest in crypto and NFTs, indicating the need for Web3 games to focus on the gaming experience rather than solely on the blockchain elements. Achieving specific industry objectives, such as enabling gamers to have control over their digital assets, may also play a significant role in the future of Web3 gaming.
Web3 game creators have persistently made efforts to attract the notice of the general public for the past few years, and three previous gaming company leaders believe this group to be crucial for the industry's growth. Video games are a beloved activity worldwide and have even transformed into a form of competitive sport. Currently, more than three billion people engage in Web2 games as per Exploding Topics' 2023 data, with most of these being casual players who don't invest large amounts of time.
Jennifer Poulson, with 18 years of experience in the gaming scene including roles at well-known Web2 gaming firms Bandai Namco and Riot Games, views the general audience as key for the future of Web3 games. She expressed to Cointelegraph that it would be important to attract general players into the Web3 environment in the upcoming years.
However, the goal is not to tempt them into joining Web3, but to create fun games that cater to all kinds of gamers. General gamers have generally shown disinterest in crypto, especially in non-fungible tokens (NFTs). A study by Blockchain entertainment company Coda Labs in 2022 revealed the low regard of traditional gamers for crypto or NFTs.
Poulson thinks that collaborations with mainstream publishers and platforms are needed for the future success of Web3 games. "Ultimately, it’s about understanding how and why to incorporate Web3 components into their games," she says.
Cointelegraph's report showed that mainstream platforms have been slow to adopt Web3. Still, there has been positive development towards integrating Web3 with mainstream gaming. Digital distribution service Epic Games Store has been increasing its listing of Web3 games every year, reaching a peak of 69 in October 2023.
If mainstream gamers choose not to switch, Poulson thinks Web3 games will continuously sustain and thrive. She expects all games will gradually incorporate aspects of Web3, with the technology likely blending into the conventional gaming world and allowing gamers to see its benefits.
Similar sentiments are echoed by Daniel Paez, a former senior manager at Blizzard. He feels the survival of Web3 lies more in concentrating on the gaming experience. "The gaming base is much larger," says Paez "and you start to establish groups of people who share the game experience."
Statista shows the expected growth of the traditional gaming market at $400 billion in 2023, set to reach $584 billion by 2027. Compared to this, concurring with Grand View Research, the Web3 market was forecasted at only $4.8 billion in 2022.
Paez, however, believes in the potential for more games that allow players to earn tokens or NFTs, though these would depend on the unpredictable crypto market.
Michael Rubinelli, another industry veteran, told Cointelegraph that for mainstream adoption, there needs to be something that clearly highlights the advantages of Web3 to both Web2 developers and gamers. Conventional gaming companies are likely to forgo implementation until there is a game-changing application.
Broad-based gaming companies adopting Web3 games are still uncertain. Coda Labs’ 2022 survey indicates that while three in four developers anticipate working on Web3 games in the future, the timeline is undecided. Rubinelli believes that the industry's survival may not entirely depend on audience numbers, but on achieving certain objectives.
The essence, he says, is for gamers to have ownership and control over their digital assets.
Published At
11/27/2023 2:13:59 PM
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