Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
By Xield Protocol
Introduction
Do you know what's thrilling about the gaming world today? Our fingers aren't just a part of the astonishing graphics, immersive gameplay, or captivating stories; they are a part of the massive shift occurring right now. As Web3 gaming steps into the spotlight, it will revolutionize how we play, earn, and own virtual worlds. In 2024, gamers and developers will be blurring lines, and you can be more than just a player.
We'll discuss the future of decentralized play in this blog, with a focus on how Web3 is changing gaming. Discover how player-driven economies and new revenue streams are being generated by Web3 gaming, opening the door to more profitable and entertaining game experiences.
Curious about the trends, predictions, and opportunities shaping this next evolution in gaming? Let’s dive in and uncover the game-changers of Web3 in 2024!
What is Web3 Gaming?
Web3 gaming can also be explained as a type of gaming that has largely adopted blockchain technology. Also, Web3 games stand out from conventional games in that all the assets, including characters, weapons, and land, are owned and operated by users.
These items are stored in the blockchain per their quality as digital assets or non-fungible tokens, NFTs, respectively, due to their value. Such assets can be exchanged, sold, or employed to generate income.
Web 3.0 gaming platforms are also decentralized, and no company owns the gaming platform, making the game completely decentralized. This gives the gamers higher control and safety. In general, Web3 gaming is fun and integrated with potential benefits for players, offering promising use cases all around.
As per DappRadar, the DApp industry's leading sector in 2023 was firmly established as blockchain gaming.
Current Trends in Web3 Gaming Ecosystem
1. P2E Model Gaining Traction
As with most Web3 applications, the play-to-earn model has arguably been the key motivating factor for gaming applications. In traditional gaming, participants spend large amounts of time playing to level up characters or gain unique items in the game, but the value leveraging does not translate into the economic sphere. Web3 gaming gives the players ownership of their assets and even merchandises them within real economies due to decentralization.
In 2024, why should it be important? More projects use the play-to-earn model now, and developers have started to adjust tokenomics further to provide an even more stable and profitable outlook for gamers. It is proven that games are not only a pastime anymore — they are a way to generate revenue, especially in areas where the income from Web3 games can be a game-changer. A development that is going to define the future is the merging of financial knowledge with gaming and interactive applications.
2. Interoperability in multiple video games.
One of the most interesting trends is the growth of the emphasis on the interoperability issue. Unlike in traditional gaming, retainable assets may be limited to particular games or platforms only. Web 3 gaming virtually reverses that thinking, providing the gamer with full portability of their acquired assets across games and, potentially, the ability to resell them on public blockchains.
For example, equipment or characters that were represented by NFTs or skins can be used in other game applications and integrate a gamescape more. It is thought to continue in 2024, as development companies work together to create for players and their assets to travel between games—thus making assets incredibly valuable and flexible.
3. DAOs in Gaming and Transactions
With the arrival of Web3 games, governance is also evolving, especially by having decentralized autonomous organizations (DAOs). At the same time, DAOs are providing an opportunity to put players in a position where they can influence the game’s development.
DAOs ensure that players have a say in gimmicks, new additions, and even structures such as economics. Painting does a good job of creating an understanding that makes communities care about the future of the game. By 2024, many Web3 games are predicted to adopt DAO-based governance, and instead of just having ownership of the game’s mechanics, players will also have ownership over the management of the game’s world.
4. Layer 2 Solutions Improving on Scalability
There has been a common problem of scalability and high costs in the traditional blockchain gaming systems that require a large number of transactions, such as those associated with Ethereum. However, Layer 2 solutions, including Polygon, Optimism, and Arbitrum, help facilitate quicker and more affordable website transactions since Web3 games must scale despite being decentralized.
These solutions delegate most of the transactional work to different blockchains and thus help games run far more smoothly, meeting a higher number of players. Furthermore, as a result of advancements in technology in 2024, we anticipate more Web3 games utilizing Layer 2 systems, especially to provide smoother and more effective gameplay.
Future Developments in Web3 Gaming: What’s Coming Next?
Oh wow, Web3 game development is going to revolutionize the industry in the future; that much is clear. Of course, today’s trends look promising, but the solutions that are being prepared for future release will be even more groundbreaking. Gaming will become even more realistic, smarter, and decentralized, giving people an incredible ultimate gaming experience. Alright, let’s focus on the most promising trends in the future.
1. AI-Powered Game Worlds: Smarter, More Immersive Gameplay
Think of a game in which you and the environment, including the NPCs, adjust to each other. Well, with artificial intelligence (AI) and machine learning getting more advanced than they are already, that’s where we are going! AI will change how environments for the games interact with the players, which will give the game a non-scripted environment that changes with the actions of the player.
What does this mean for gamers?
NPCs will learn from your behavior, creating unique interactions that keep the gameplay fresh and challenging. AI will also optimize in-game economies, balancing resource allocation, item distribution, and even in-game marketplaces without human intervention. In a nutshell, expect smarter, more intuitive, and immersive game experiences!
2. Mass Adoption Through Simplified User Experiences: Web3 for Everyone
Let’s be real: Web3 gaming isn’t always easy. Creating wallets, purchasing tokens, overseeing assets—it must be difficult for first-time folk, isn’t it? But guess what? More and more developers want to bring people into Web3 with the same simplicity as one clicks into a regular game.
What’s happening next?
In 2024, Web3 games will be much easier to use, thus gradually making it easier for those who are new to such games to learn how to play. Looking forward to simple wallets, the one-touch setup, and clean designs that will prevent the common layman from having to deal with the actual inner workings of blockchains. Everyone can participate, regardless of whether you're a seasoned Web3 gaming veteran or just starting online.
3. DeFi Integration: Where Gaming Meets Finance
What if assets were not only derived from level completion but also the ability to make money? Web3 gaming integrates with Decentralized Finance (DeFi) in fun ways for players to gain real-world value in the gaming world.
How does this work?
In 2024, the Web3 games will bring decentralized finance into gaming so players can stake, earn interest, and do various other liquidity pools while gaming. For instance, you should be able to engage your in-game money into a decentralized finance, or DeFi, platform and earn regular income or use your assets and become a provider in the financial marketplace of other players and take a cut from the earnings. This crossover of gaming and DeFi will only intensify so that each time you invest your time in gaming, it becomes a financial investment.
4. Sustainability and Green Blockchain: Gaming for a Greener Tomorrow
Good news—those days are behind us! With proof-of-stake (PoS) systems like Ethereum’s upgrade drastically reducing energy consumption, sustainability is now front and center in Web3 gaming.
What’s the focus for 2024?
The future of Web3 games should be more environmentally sustainable blockchain networks. Consumers and organizers are increasingly paying much attention to the sustainability of their projects by minimizing energy consumption by the games. While it is important that Web3 gaming increases, it should not be done at the expense of the planet, which is why everything from energy-efficient blockchains to carbon-offset initiatives are present.
Conclusion
Finally, we’ve covered some exciting ground, haven’t we? From play-to-earn models that let you game for profit, to AI-powered game worlds that adapt to your every move, and even the merging of gaming with decentralized finance. Web3 is truly redefining what it means to be a gamer in 2024. And we’re just getting started!
Web3 games give a glimpse into the future of what gaming can look like as blockchain emerges in the mainstream and players demand more decentralized systems. Through Web3 gaming, players and developers are offered myriad fascinating options, including virtual reality metaverse quests, earning money due to play-to-earn models, or purchasing various NFT assets.
So, what role will you play in the evolving world of Web3 gaming? No matter what your interests are, there's no question that the future of gaming is now, and it's just waiting for you to explore it. The only question left is: what part will you play?
Exciting times ahead, don’t you agree?
Author bio
Xield Protocol: Biggest Gaming DePIN Infrastructure Leverage idle bandwidth and computing power to generate DePIN rewards seamlessly.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.