Web3 Gaming Survives Crypto Market Fluctuations: Surge in Blockchain Games Forecasted for 2024
Summary:
Despite fluctuations in the cryptocurrency market, the sphere of Web3 gaming has remained resistant, indicating a promising future, according to experts. They predict a rise in blockchain-based games and a wider adoption of Web3 elements in gaming platforms in 2024. Some challenges acknowledged include the need to simplify blockchain for game developers and creating more intuitive in-game blockchain experiences for players. A major driving factor in the expansion of Web3 gaming could be a singular revolutionary Web3 title, stirring a significant uptake in blockchain gaming.
Despite the volatile cryptocurrency market, the world of Web3 gaming has shown impressive stamina, sparking predictions that the upcoming year will witness remarkable developments in this area. The CEO of South Korean gaming firm Wemade, Henry Chang, anticipates a surge in blockchain-centric games hitting the market in 2024. Speaking to Cointelegraph, Chang conveyed his expectation for increasingly intricate implementations of Web3 in gaming as developers become more proficient and daring. He anticipated future games to explore innovative utilization of blockchain elements in game mechanics and gameplay, introducing a broader palette of Web3 games across diverse genres.
In addition to a growing portfolio of Web3 games, Chang also forecasts an increase of game studios incorporating Web3 aspects. Chang believes that the unique capabilities of blockchain gaming, such as cultivating novel revenue channels, crafting immersive experiences, and enhancing community interaction through token-specific rewards, will drive this trend.
Chang also emphasized the benefits of merging gaming with blockchain technology. He noted that it restores the ownership of in-game assets to the player, links the real-world economy to the gaming universe, and consolidates games into a unified entity.
Bartosz Skwarczek, the CEO and founder of the G2A Capital Group, the organization behind the G2A gaming marketplace, shares Chang's views. He expects a surge in collaborations between traditional industry participants and Web3 startups in the year 2024. Microsoft has supported Chang’s Wemade in their Web3 endeavors, evidenced by a press release on Nov. 2. On Nov. 16, G2A — a conventional gaming purveyor — introduced its own NFT marketplace dedicated to Web3 games.
Looking forward, Skwarczek shared his belief that such collaborations will result in widespread acceptance of Web3 gaming. He further highlighted the prospective roles of NFTs for in-game attributes and the arrival of a top-tier Web3 game as potential game-changers in the realm of blockchain gaming.
Despite this positive outlook, Skwarczek and Chang also acknowledged a significant hurdle for blockchain gaming: expanding the player base. Given the complexity of blockchain technology, it can pose a challenge for game designers and developers and, therefore, users as well.
To combat this problem, Chang suggested a two-pronged approach: simplifying the process of integrating Web3 elements into games for developers and making blockchain more intuitive within gaming for users. These changes could lead to wider acceptance and adoption of Web3 gaming.
Finally, Skwarczek emphasized the need for a "groundbreaking Web3 title" to pave the way in setting a standard in blockchain gaming and enhancing the gaming experience, which he sees as a key to boosting Web3 adoption.
Published At
12/6/2023 12:15:06 PM
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