How Web 3.0 Transforming the Gaming Industry?
Web 3.0, the upgraded Web, is dramatically impacting the gaming landscape and reshaping the market through its futuristic features and pros.
The gaming industry has always been revolutionized with novice technologies and has witnessed various advancements in terms of technology and its implementation within the game's creation in a decade. Games that were developed a decade ago are different in comparison to today's games and looks, which were never imagined before.
2D to 3D, with the advantages of virtual and augmented reality, in-game currencies and NFT, web 3.0, and so on, are technological revolutions in the gaming industry.
Well, Web 3.0 will transform the gaming industry far above today's imagination and our created blueprint for Web 3.0 game development. It will reshape the entire gaming experience.
In this blog, we introduce Web 3.0 and explore its impact on blockchain-based gaming and digital innovation. We also explain how Web 3.0 transforms the gaming industry, supporting NFT game development and Play-to-Earn (P2E) models.
What is Web 3.0?
Web 3.0 is the upgraded version of Web 2.0, which mainly focused on communication and user interaction online. The new Web 3.0 introduces decentralization, replacing centralized control and reducing monopolies in the digital world. By enabling decentralization, Web 3.0 makes the internet more transparent, secure, and useful for businesses and everyday users alike.
In a clear statement, the web3 server will work independently in a decentralized manner and will have no intermediary element to offer communication facilities between the user and the internet.
We have given a brief on Web 3.0, and in the next section, we will talk about Web 3.0 benefits.
Benefits of Web 3.0 Technology in the Gaming Industry
Every new technology brings advancements and features that empower us to create innovative products and improved digital experiences. Just as the early internet transformed global communication, Web 3.0 will bridge gaps and unlock new opportunities for innovation.
Ownership
Web 3.0 will change the gameplay of upcoming games with its unique distribution features, giving unique ownership to the purchasers of the game assets. Moreover, it doesn't end here; the purchasers will retain the value of the assets for long life and trade their assets in the NFT marketplace. And this is all implemented with the help of blockchain technology that enables in-game asset ownership and digital scarcity.
The good thing about Web 3.0 is that these games are not released with infinite asset supply options and have limited assets, which ownership goes to players after the sale.
Earn While Playing
Games that are being developed on the Web 3.0 module have the finest advantage, and that is the user can earn while playing the game. Indeed, it is one of the paradigm shifts of the gaming industry that these games ensure a return on gamers' skills and the time they use to play. So, the game is no longer a leisure activity and only requires a little streaming skill to earn money from gaming.
With Web 3.0, players will be able to monetize their gaming skills. Games will become economies, and gamers will receive real economic output based on gaming skills.
The gamers will receive cryptocurrency for task completion and levels-up, which they can exchange for other crypto-assets or real currency.
Interoperability
In traditional games, players were limited to use game assets and purchased items in the game only, but Web 3.0 game has changed the scenario. With Web 3.0, one game's assets can be used in different games, and it is possible with the blockchain-based ecosystem.
Players will be able to bring their digital assets, NFT skins, avatars, or weapons, with them and can use them in other games as well.
DAO & Modification Ownership
In Web 2.0 version games, players were not allowed to modify as this could undermine the term of service. Although, blockchain-based games or Play to earn games are open source and can be modified per their users' requirements. These changes can be done per DAO decisions and regulations made in the early days of the game launch. DAO will be able to introduce changes in the game to fit players' needs.
Democracy
Web 3.0 is not just about monopoly versus democracy; it provides significant benefits for indie game developers. Decentralization empowers indie developers to challenge major studios’ dominance and easily launch their games in online environments. This shift will enable the gaming industry to produce more innovative, diverse, and engaging games for players worldwide.
Opportunity
Early Web 3.0 adoption gives gamers advantages over those who join the platform later, including access to new opportunities. By embracing Web 3.0 early, gamers can leave a legacy and influence future players in this evolving digital space.
What are the Prime Elements of Web 3.0 for the Gaming Industry?
The gaming industry is adopting advanced technologies like Blockchain, NFTs, and AI to upgrade games for Web 3.0. These elements make the Web 3.0 transformation viable, enabling innovative, decentralized, and engaging gaming experiences for global players.
Blockchain
Currently, 100 million users of blockchain gaming will likely increase to close to two billion users in the gaming sector in the coming years. Decentralized, immutable systems that allow user interaction is what blockchain games are. Many potential will exist for gamers to use a blockchain system to integrate numerous game titles into a single gaming environment.
NFTs
NFT, Non-Fungible tokens, are crypto tokens that can be used to create game assets and can be transferred between wallets. NFT's data is stored in blockchain-based
servers that cannot be hacked as they have decentralized features.
Artificial Intelligence
Artificial intelligence (AI) and natural language processing enable computers to comprehend information similarly to humans, accelerating test findings' progression. AI enables the rapid and successful creation of game worlds that are populated by non-playable characters who appear to be designed for human game players to control.
Tokens
Tokens will be used as an incentive or prize for players participating in the P2E game. P2E's token will play a vital role in creating a game economy and will change the scenario of the entire gaming community. When the token rate increases, it will positively impact gamers too. Likely, players will be able to purchase the crypto by selling tokens available on the market.
Wrapping Up:-
We hope this blog helped you in learning how Web 3.0 technology is making a paradigm shift in the gaming industry. Moreover, we have also discussed the main technologies that help the gaming industry in creating Play to earn games.
If you are looking for an agency to help you develop Play 2 earn games, NFT games, Metaverse, AR, and VR games, you can hire Gamix Labs.
Gamix Labs - is a full-fledged game development company that helps developers and businesses by providing end-to-end development services for any games.
FAQs
What is Web 3.0, and how will it impact the gaming industry?
Web 3.0 is reshaping the gaming industry with futuristic features that transform markets and player experiences worldwide. Games developed a decade ago are far different from today’s advanced designs, graphics, and immersive gaming environments. With Web 3.0, players can carry digital assets like NFT skins, avatars, and weapons across multiple games. Gaming will evolve into real economies, where players earn tangible economic rewards directly from their skills and achievements.
How can I get develop a Play to earn games?
Play-to-Earn (P2E) games can be developed on Unreal Engine if your team has blockchain development expertise. Outsourcing game development is often the best option, as experienced companies can help shape a high-quality, viable game. Gamix Labs is a leading game development company providing end-to-end services, including Metaverse, P2E, and NFT game development. They also offer game art, animation, testing, and game porting services to ensure complete development support. Gamix Labs’ dedicated team can help transform existing games into P2E titles using their extensive industry expertise.
Which games can be built on Web 3.0?
All types of games can be built and played on Web 3.0, built to be worked on decentralized servers or blockchain technology.