Blockchain, NFTs, Cryptocurrency and Web3, these are the terms often seen on Internet, gaming scene and basically in our Financial lifeline!
Through the existence of cryptocurrency and blockchain within the Web3 scape, Web3 has revolutionized various industries, including gaming. With a major shift from traditional gaming platforms players are able to enjoy a smooth decentralised gameplay without dependency on any platform.
WHAT IS WEB3 GAMING AND WHAT DIFFERENTIATES IT FROM TRADITIONAL GAMING ?
It is all about ownership. Web3 is the concept of a new, third-generation Internet, decentralized and powered by blockchain and the token economy. It is opposed to the Web2 World Wide Web, which is based on centralized platforms for user social interaction.
Though the idea of Web3 may seem foreign and daunting, it is actually something gamers can comfortably adapt to, since virtual earning and spending a digital currency is a culture that has already been cultivated in video games for decades. There’s lots to learn but lots more to gain from the world of Web3, and we’re here to surf it together with you.
Web3 opens up the gaming scene to new monetization opportunities through digital assets such as NFTs (non- fungible tokens) and fungible tokens (cryptocurrency).
Today, Web3 gaming allow the players to engage with the games in innovative and decentralized ways. People can play to earn with cryptocurrencies and NFTs. This democratizes all aspects of gaming and puts the main power in the hands of the player instead of confining it to one central authority within a game.
While in traditional gaming, in-game content or digital assets are purchasable with fiat currency or can be claimed as rewards, game operators still reserve the copyrights to the in-game content. In simple words, players do not own the in-game digital assets. Instead, in traditional gaming, players’ ownership is simply a license for engaging with the aspects of the game.
The biggest difference between web3 gaming and Traditional gaming is essentially the party that holds the power.
However, due to the inefficiency of centralized servers and traditional gaming, gray markets have surfaced to provide scope for hackers and scammers. They exploit players and provide no benefit to developers and administrators. Administrators fail to safeguard gaming platforms and their players from shutdowns and cyberattacks. Because of the centralized server and its inefficiency in safeguarding itself against hacks, the digital assets are also at high risk of loss, fraud and theft.
To address the problems listed here, Web3 gaming offers innovative techniques such as gaming Decentralized Autonomous Organizations (DAOs) with decentralized gaming ecosystems, blockchain-based game asset ownership, play-to-earn, crypto-secured gaming wallets and metaverse gaming.
The world of gaming has constantly been evolving and developing while giving players different ways to spend their time and have fun.
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Roshambo is a Web3 entertainment dapp with Social-fi and Game-fi elements
Wealth is at your fingertips
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