Web3 gaming is growing, dubbed one of the fastest expanding sectors in blockchain and Web3. Alibaba Cloud is launching a lab for Web3 gaming developers. Two major players in the industry, Polygon and Immutable, are predicting exponential growth for the sector in the next few years. According to Ryan Wyatt, president of layer-2 chain Polygon Labs and Robbie Ferguson, co-founder and president of Web3 gaming company Immutable, 40% of the games that are being developed will go live in the next 12 to 18 months.
Key players are optimistic that Web3 games can onboard over 100 million players by 2025. A considerable number, huh? When we are at numbers, Ferguson added that players already spend over 100 billion dollars yearly on in-game items in traditional gaming. With the FBI Issuing a Public Service Announcement (PSA) via the Internet Crime Complaint Center (IC3) warning players about scammers targeting Web3 and Play-and-Earn, we can really say that things are heating up in the sector. You know an industry is attractive when scammers try to get their piece of the money pie (it’s a low-key joke — or high-key truth). Bling.
Despite the eventful lifecycles of Web3 gaming in 2023, some sobering stats in various reports, like Finder’s NFT gaming report, reveal that 69.6% of survey participants don’t know what a Web3 (Play-to-Earn/Play-and-Earn) game is.
So the biggest obstacle for onboarding players seems to be raising awareness and learning more about the space.
What is Web3 Gaming?
We asked ChatGPT since there are so many generic definitions of Web3 all over the internet — so here’s another generic answer for the collection, but AI-generated:
ChatGPT mentions “unique features and benefits” that come with Web3 gaming, referring to digital ownership over in-game assets, the ability of players to monetize their playtime, and even use yield farming and staking. So, who’s Web3 gaming for? Crypto investors who love games, or gamers who are interested in crypto?
We asked ChatGPT to elaborate on that question:
Even with broad demographics interested in Web3 gaming, onboarding is still strained and often followed by numerous questions, one of which is simply, “How to Get Started (?)”, and many of which are conversely “Why to Get Started” (when blockchain and gaming are doing fine on its own without crossovers?).
Benefits of Web3 Gaming
Why get started with Web3 gaming?
We may find answers in the benefits of Web3 gaming: transparency, decentralization, and a greater scope of ownership that players have over in-game items they buy and earn through gameplay. And don’t forget monetization opportunities that go hand-in-hand with Web3.
Let’s break down the benefits of Web3 gaming for both players and game devs.
- 🎮True ownership of in-game assets: Web3 gaming allows players to truly own their assets, representing them as non-fungible tokens (NFTs) within a blockchain-based environment. This means that players can trade, sell, or in some cases, transfer their in-game assets to other players, platforms, and blockchain networks where possible.
- 👓Transparency: Blockchain technology ensures that game data and transactions are transparent and tamper-proof, which makes the games fairer for all players. This eliminates the possibility of cheating or fraud, a common problem in traditional games.
- 💰New monetization opportunities: Web3 gaming allows players to earn cryptocurrency or other rewards for playing games. This opens up new monetization opportunities for players and encourages them to play more, which can also benefit game developers.
Game Devs Benefits:
- 💸New revenue streams: Web3 gaming enables developers to create new revenue streams by allowing players to purchase, trade, or use their in-game assets across multiple games and platforms.
- 🕸️Decentralized distribution: Unlike traditional games, Web3 games can be distributed without a centralized marketplace or platform. This reduces the control of big gaming corporations over the industry and allows smaller developers to have a chance at success.
- 🤖Innovative gameplay mechanics: Web3 gaming will enable developers to experiment with new gameplay mechanics that are not possible or standard in traditional games. These can include decentralized finance (DeFi) elements such as yield farming and staking.
How to Get Started with Web3 Gaming?
With platforms such as Vorto, players can easily onboard by creating a player account and simply start playing games they love! At the same time, blockchain technology is seamlessly integrated into the background to enable in-game trading assets. This is an opening for both mass adoption and players who are also wanting to learn more about tokenomics, crypto, and blockchain to get deeper into Web3 gaming and the motivation to explore new opportunities in the gaming industry.
Game devs can easily integrate with the Vorto platform through our APIs, with access to item creation, inventory management, and transaction reporting features. These features and functionalities simplify verifying that a player has possession and ownership of an item. Game devs and studios can enjoy customizable features and specify attributes, metadata, and smart contracts for NFTs.
Getting Started as a Player
- Create a wallet: Web3 gaming requires players to have a crypto wallet, such as MetaMask, to store their assets and interact with the blockchain. Players can download and set up a wallet according to instructions from the wallet provider. You can also connect your wallet to start using Vorto Store and Marketplace.
- Buy crypto: Players need to buy native crypto, usually tokens, to be able to purchase in-game assets, participate in yield farming or staking, and earn rewards. With Vorto, you can buy in-game assets with fiat or use supported crypto via MetaMask and other wallets through Wallet Connect Service.
- Ready Player One: No, the third step is not Steven Spielberg’s sci-fi movie. There are several Web3 gaming platforms in the market, including Vorto. Other popular Web3 gaming platforms are Axie Infinity, The Sandbox, and Decentraland, while you can also find games directly on blockchain mainnet, such as Polygon. Players can browse these platforms to find fun and exciting games and start playing. Many of these games, if not the majority, are free to play but usually contain in-game purchases.
Getting Started as a Game Developer
- Learn: Game developers need to understand the basics of blockchain technology and how it’s applied in gaming. Several resources, such as online courses and tutorials, can help developers get started. You can contact Vorto for more info on how you can enter Web3 gaming.
- Choose a platform: Developers must choose a blockchain platform to develop their games. Some popular platforms include Ethereum, Binance Smart Chain, and Polygon.
- Develop the game: Devs can use tools and platforms like Solidity, Truffle, or Vorto API to develop their Web3 games. It’s essential to consider the unique features and benefits of Web3 gaming, such as ownership and transparency.
- Publish the game: Once the game is developed, developers can publish it on a Web3 gaming platform, such as Vorto or OpenSea, making it available to players.
If you choose Vorto as the platform for your Web3 game, you can join our Dev Academy, and our team will help you integrate your game and publish it via ready-to-use APIs and tools.
Get in Touch with Vorto
We always love to hear from game studios, players, devs, and crypto fans alike, so follow us on Twitter and join our Telegram group for more discussions about everything Web3. You can find more about what Vorto can offer your game on our Medium page or reach out to our team at email@example.com