Are Web3 games the future?

A potential paradigm shift in digital entertainment

Web3 games promise true ownership of digital assets, play-to-earn economies and decentralization, making them a revolutionary force in the future of gaming.

Web 3.0 is the next generation of the Internet: blockchain-based, decentralized and democratized. In contrast, most of the applications and platforms of Web 2.0 are currently defined by centralized formats and user-generated content. However, Web 3.0 will create a digital space that is rather more transparent, safer and oriented towards the users and user needs.

Among topics of great interest in the main ecosystems driving Web 3.0 are cryptocurrencies, dApps and NFTs, which enable interaction and direct exchange of value without intermediaries. It does this with the aim of giving users more control over their online identities, assets and data.

To that end, Web3 games allow for blockchain-based true ownership of in-game assets. To illustrate the difference, players can currently invest time or money into things like characters, skins, or other in-game items. However, these assets are still owned by the game developers. Web3 games change this by letting players hold their digital assets as NFTs, which they can sell or trade independently – extending ownership of game assets beyond the game itself.

Play-to-earn crypto games such as Axie Infinity (a play-to-earn game with rewards in cryptocurrency involving battles between creatures called Axies) have grown in popularity. However, crypto games like these should be distinguished from crypto casino offerings such as Ethereum dice games found on blockchain-based gambling platforms.

While crypto games allow players to earn crypto rewards, crypto casinos use cryptocurrencies as a payment method, allowing them to offer extra perks like faster sign-up procedures and instant payouts. On those iGaming platforms, deposit and withdraw with crypto is not only practical, but it is also the preferred method for many players. Poker is especially gaining popularity on such sites. The variety of games, the latest software that ensures fair and safe play, and anonymous playing options are just some of the advantages of playing poker on such platforms. However, keep in mind that while you can withdraw winnings in cryptocurrency, the rewards are not guaranteed as they are in any form of gambling.

In contrast, in crypto games, players can earn rewards just for playing, completing tasks or leveling up. The rewards are usually blockchain-based assets and are not limited to one game. Interoperability across platforms is one of the key features of Web3, meaning players can use their items across a wide variety of games or virtual environments. This allows for an entirely new style of interaction with games, building a sense of real real value in virtual worlds.

When it comes to Web3 storage featuresthe decentralized solution will give players the ability to store and transfer game data across platforms securely and independently of a central authority. Such systems will provide the backbone for Web3 games: ensuring that digital assets and progress are portable and independent of individual game developers. Major game development studios like Ubisoft have already recognized this potential and are working to make it a reality.

However, what will really propel Web3 gaming to the next level is an entirely new class of specialized technology and equipment built specifically around the unique needs of a decentralized environment. This will involve hardware such as high-end computers and virtual reality headsets to manage the complex nature of blockchain transactions while still managing seamless, immersive gameplay.

Decentralized cloud gaming platforms will play an increasingly important role in Web3 gaming. It gives gamers access to enterprise-grade PCs without a corresponding investment in expensive local hardware. By using decentralized networks, these platforms can offer scale and flexibility. This will also ensure that there is no loss in performance. As such, some new slot machines are already uses Web 3.0 as a major selling point.

With gaming becoming more and more immersive, the rise of VR headsets specifically designed for compatibility with blockchain is inevitable. Such headers can embed digital wallets directly within the user interface. It can allow players to trade assets, interact with decentralized applications, or manage in-game economies without leaving the virtual world.

Web3 is a growing revolution not only with games but also in content creation. YouTubers, streamers and games influencers are now able to monetize their content with NFTs and blockchain technology in ways they hadn’t considered before.

For example, a streamer can make his game highlights into NFTs that fans can buy as digital collectibles. It gives fans a sense of ownership of a piece of content from their favorite creators, offering a new dimension of interaction beyond mere views or likes.

Decentralized platforms – enabled by various conceptions of Web3 like this – are likely to become much more common, offering better revenue-sharing models for content creators. In the process, Web3 will allow creators to retain more control over their content and their revenue.

This will be achieved primarily through Web3 monetization models that allow them to circumvent some of the economic constraints imposed by centralized entities like YouTube or Twitch—just another way Web3 will change the future of gaming.