Web3 Gaming Predicted to Boom in 2024 with Asia Leading the Charge and Apple’s VR a Game-Changer
Summary:
Experts predict that the crypto market enthusiasm and the launch of numerous blockchain games will attract many new gamers to Web3 in 2024. Web3 gaming is expected to grow significantly, with casual mobile gaming leading the way. Asia is anticipated to dominate due to its acceptance of GameFi tech and NFTs, along with its flexible crypto regulations. High profile figures are expected to continue endorsing crypto-related projects, albeit with more caution. The upcoming Apple Vision Pro, a virtual reality headset, is considered a potential catalyst for further advancement within the virtual reality landscape.
The enthusiasm around the crypto market and the upcoming launch of several much-anticipated blockchain games is predicted to attract a wave of new gamers to Web3 in 2024, according to players in the Web3 gaming industry. Web3 gaming and venture firm Animoca Brands' co-founder, Yat Siu, predicts that "2024 will be a year of expansion, drawing a growing population over to Web3."
Recent data from DappRadar illustrates that, within the last quarter alone, roughly one million unique active wallets have engaged in Web3 gaming on a daily basis. Yet Siu estimates an influx up to 100 million more within the coming year. He observes that "loads of games that were only in alpha or beta testing in the past couple years are now slated for public release in 2024."
Siu envisions a particular surge in activity within casual Web3 games, including those played on mobile devices. He forecasts that simple, less-demanding games could lure "tens, possibly even 100 million gamers." Predicting Asia to dominate, due to its broader acceptance of GameFi tech and related NFTs, Siu asserts that Asia's more accepting and flexible crypto regulations could facilitate this growth.
Ambrus Studio founder and CEO, Johnson Yeh, anticipates great strides in Web3 gaming, propelled by the support of the bull market predicted for 2024. He points to the robust potential within the free-to-play space and the sale of skins, drawing parallels to the successful Counter-Strike series where skins often sell for mid-six figures.
Another growing theme within Web3 gaming is user-generated content (UGC), according to Sebastien Borget, co-founder of The Sandbox. He believes that decentralized platforms could significantly empower creators and reward them for their efforts via Web3 technology.
Despite earlier setbacks for celebrities and brands that endorsed crypto-related projects during the last bull run, both Siu and Yeh foresee a continued involvement of celebrities, albeit with greater caution. Siu believes that this trend will truly surge once there's legal clarity in the U.S., while Yeh asserts that celebrities will play a still crucial role, though reduced. Borget adds that many brands and celebs are seeking fresh ways to connect with their followers through UGC-centered entertainment.
On the topic of the metaverse, Yeh remarks that the forthcoming Apple Vision Pro, Apple's new VR headset, could be a "game-changer" for virtual realms. With high sales volumes potentially lowering hardware costs, Yeh believes Apple could significantly contribute to a more widespread adoption of VR technology. Despite Meta's attempts at competing in the VR segment with its new Quest 3 headset, Yeh expresses that Apple's iconic brand reputation gives it a significant advantage for commanding a substantial premium. The Apple VR headset, expected to ship in early 2024, is considered by some as more of a mixed-reality device due to its features like eye and hand tracking.
Published At
12/18/2023 2:04:00 AM
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