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Web3 Games: The Future of Gaming on the Blockchain

Web3 Games: The Future of Gaming on the Blockchain 


Gaming is one of the most popular and profitable forms of entertainment in the world, with billions of players and billions of dollars in revenue every year. However, gaming also faces some challenges and limitations, such as:

Centralization: Most games are controlled by centralized platforms or publishers,who have the power to dictate the rules, monetization, and distribution of the games. Players have little or no say in how the games are run or developed, andoften have to deal with issues such as censorship, fraud, hacking, or unfair practices.

Ownership: Most games do not grant players true ownership of their in-game assets, such as items, characters, or achievements. Players are merely renting or leasing these assets from the game developers or platforms, who can revoke or modify them at any time. Players also have limited or no ability to transfer, trade, or sell these assets outside the game.

Innovation: Most games follow similar patterns and formulas, with little room for experimentation or creativity. Games are often designed to maximize profits for the developers or platforms, rather than to provide meaningful experiences for the players. Games are also constrained by the technical and legal limitations of the existing web infrastructure.

What if there was a way to overcome these challenges and limitations, and create a new paradigm of gaming that is more open, democratic, and participatory? This is where web3 games come in.

What are Web3 Games?

Web3 games (sometimes called play-to-earn, play-to-own, crypto, blockchain or NFT games) are digital games that use blockchain technology as an underlying component of a game’s economy.

Blockchain technology is a type of distributed ledger that records transactions or events in a secure and verifiable way. Blockchain technology enables trustless and peer-to-peer exchange of value or information without intermediaries.

Web3 games leverage blockchain technology to create new possibilities and opportunities for gaming, such as:

Decentralization: Web3 games rely on distributed networks of computers (called nodes) instead of centralized servers or intermediaries. This means that players can interact directly with each other without relying on third parties that may be vulnerable to censorship, corruption, or hacking. Decentralization also enables more resilience, security, and transparency in the game.

Ownership: Web3 games grant players true ownership of their in-game assets, such as items, characters, or achievements. These assets are represented by non-fungible tokens (NFTs), which are unique digital assets that can be verified and traced on the blockchain3. Players can own and control their own NFTs, as well as transfer, trade, or sell them outside the game.

Innovation: Web3 games encourage innovation and creativity in game design and development. Web3 games can incorporate various blockchain-based features and mechanics, such as smart contracts, cryptocurrencies, DAOs (decentralized autonomous organizations), DeFi (decentralized finance), and more. Web3 games can also create new forms of gameplay and value creation that were not possible before.

What are Some Examples of Web3 Games?

Web3 gaming is still in its infancy and faces many challenges and uncertainties. However, it also represents a huge potential for transforming the way we play and interact with games online. 

Here are some examples of web3 games that are already popular or promising:

Alien Worlds: Alien Worlds is the top web3 game in 2023 with the most players at a daily average UAW (unique active wallets) of 230,978 YTD (year-to-date) The world-building strategy game simulates the real world economy with its Trillium (TLM) token. Players can explore different planets, mine resources, craft items, join factions, and participate in governance.

Splinterlands: Splinterlands is a collectible card game that runs on the Hive blockchain. Players can collect, trade, and battle with cards that represent various creatures and abilities. Each card is an NFT that can be sold or rented on the marketplace. Splinterlands has over 130,000 daily average UAW YTD.

Axie Infinity: Axie Infinity is a game where players can breed, raise, and battlewith cute creatures called Axies. Each Axie is an NFT that can be customized and upgraded. Players can earn tokens by playing the game or selling their Axies on the marketplace. Axie Infinity has over 11,000 daily average UAW YTD4.

Wreck League: Wreck League is a groundbreaking creation from the collaboration between Animoca Brands and nWay. Lauded as the first AAA blockchain-based fighting game, Wreck League is set to captivate players 14 September with its unique blend of competitive gameplay and NFT integration. Each fighter in this game is a customizable mech, crafted from 10 distinct NFT parts, leading to a staggering 1.5 quadrillion potential combinations just for Season 1