Web3 and Gaming!

Web3 is not just creating an entirely new type of gaming, but it’s also enabling the integration of our past.

Web3 and Gaming

The rise of Web3 is changing the entire landscape of gaming, introducing new and revolutionary ways of playing that involve blockchains, cryptocurrency, and non-fungible tokens (NFTs).

But the biggest impact Web3 is having on this new world of gaming? It is democratizing the many different aspects of gaming and providing brand new ways for players to find success! Never before have we seen such a model that places so much power in the players’ hands, and instead of concentrating that power within one single game, players can carry it throughout many games within the entire ecosystem.

What is Web3?

Before we dive into how Web3 creates a winning environment for players…what exactly does Web3 mean?

Web3, short for web 3.0, encompasses a new idea for a version of the internet that operates on decentralized, quasi-anonymous sources. Instead of all of the power belonging to tech giants, it is spread between users.

As the name suggests, Web3 follows Web1 and Web2. Let’s take a look at the major features of each evolutionary step:

• Web1: The original World Wide Web, which relied on open source and open standards. It led to the rise of some of the largest internet companies to ever exist, such as Google and Amazon.
• Web2: More focused on user-generated content, Web2 ushered in the era of blogs, wikis, and social networks. It was built on some of the same Web1 technologies but also enabled social connection and content creation.
• Web3: The new Web3 features a value-exchange model rather than the simple exchange of information, as well as self-sovereignty and the major decentralization of the Internet.

Now that we got that out of the way — back to gaming!

Ownership and Interoperability

The biggest opportunities for players within the Web3 metaverse comes from its ability to enable true ownership and interoperability in gaming, and this is achieved through blockchains and NFTs.

NFTs are the new face of Web3 gaming, and you have probably seen their popularity exponentially increasing as of late. This is because they offer something never before available in previous gaming models: the chance to truly own nearly any type of unique in-game asset or item.

In traditional gaming, a player would buy an in-game asset that was specific to that game. But what happens when that same player moves on to another game? All of the time and money spent obtaining the item, or multiple items, goes right down the drain. We’ve all been there! Imagine the countless gaming items that are currently wasting away in the virtual world.

Web3 gaming has the perfect solution to this: interoperability. Gamers no longer need to lose money on these items, as they can be moved across multiple games. This places more control in the players’ hands and allows them to freely bounce back-and-forth from as many titles as they want.

And if a player doesn’t want to carry that item or no longer finds use for it — no worries! They can just sell it on secondary markets, turning these in-game NFTs into a type of investment rather than a single-time purchase.

Integration of Our Past

Every single gamer has their own beloved titles. They could be the games they are best at, or maybe those that they grew up playing, among many other reasons. Gaming is personal — it would be tragic to leave behind all of the existing titles that brought so much fun to generations.

Thankfully the Web3 ecosystem is listening to players and enabling the transition of these existing titles by upgrading them into the new in-game buying and selling model. Imagine all of your favorite games being extended into the metaverse — something none of us could have ever imagined! Web3 is not just creating an entirely new type of gaming, but it’s also enabling the integration of our past.

Gaming Focused on the Player

With these new opportunities brought on by Web3, gamers will find an ecosystem that is tailored to them, not just big tech. There are many new ways to earn and win, especially through the ecosystem’s promise of digital asset ownership and interoperability. On top of all of that, it is making room for our past rather than wiping it away, providing the right balance of the familiar and the new.

Within the Web3 environment, the role of gaming will be to bring back true decentralization and power to the players!

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