Web3 has transformed almost all sectors, including the gaming sector. Conventional gaming platforms have taken a major shift, and web3 based games allow gamers to engage in decentralized and innovative games available today. Players can even play to earn games with the help of NFTS and cryptocurrencies. With the advent of web3 gaming, all the associated aspects of games have been democratized. Today, more power is put in the hands of gamers rather than confined to a central authority within the gaming space. In the case of traditional gaming, players could not purchase their in-game digital assets. The ownership of players was only a license that could engage them with the game. This guideline discusses what is Web3 gaming and its related aspects.
Game-associated information on servers is stored in centralized gaming servers, which the administrators of the game control as well as operate. There is no adequate knowledge or resources available to game developers for monitoring and allowing the trade so that players can exchange their digital assets and earn profit. Grey markets have created a way for scammers and hackers due to the inefficiency of traditional gaming and centralized servers. Both scammers and hackers exploit gamers and create no benefit to the administrators and developers. Gaming administrators also failed to protect the gaming platforms and players against cyber attacks and shutdowns. Due to the inefficiency and centralized server in protecting against hacking, digital assets are at high risk of theft, fraud, and loss. Innovative gaming techniques like decentralized autonomous organization are offered by web3 gaming which comes with blockchain-based game asset ownership, decentralized gaming ecosystem, metaverse gaming, crypto-secured gaming wallets, and play-to-earn opportunities.
Table of Contents
What is web3 gaming?
A decentralized process of gaming where activities of a gaming platform or gaming ecosystem, especially ownership of the gaming assets and making of decisions in gaming, are delegated without any central body or authority is known as web3 gaming. It is built by integrating blockchain technology into the gaming platform or ecosystem, allowing gamers to freely express their opinion about how and when the game must evolve. It lays down the foundation of play-to-earn for gamers. It changes all the aspects of pay-to-play features by providing tradeable game tokens asset trading opportunities for earning cryptos while playing games. Web3 gaming platform offers fair virtual markets within the gaming industry so players can own and access the in-game digital assets. Such in-game digital assets are stored in NFTs form and are distinctive. Web3 gaming space offers interoperability features among diverse gaming ecosystems and links in-game assets and players across different platforms. This interoperability factor largely depends on the kind of blockchain platform users select while developing the gaming ecosystem. For example, Solana or Polkadot provides interoperability characteristics in cross-chain communication bridges.
What are the features of web3 gaming?
A value exchange gaming model which helps people own and trade in-game collectibles and objects in unique NFTs form with cryptocurrency is known as web3 gaming. Decentralization and self-sovereignty are the two key features that web3 gaming provides in the gaming industry as it is open source in nature.
Following are the fundamental characteristics of platforms based on web3 gaming.
- Ownership, as well as interoperability
An important key feature of web3 gaming is that it provides self-sovereignty so that players can own in-game collectibles and assets in the form of digital NFTS. Players could also own in-game collectibles and assets in traditional games; however, they would lose all their assets once they changed the platform. This major issue has been solved with the help of web3 gaming since true ownership, and interoperability features among various platforms are provided by web3 gaming. Today players can own in-game assets and collectibles on one platform and easily move them to the next gaming platform without any problem.
- Old game integration
Integrating and upgrading old game models into blockchain and metaverse platforms is an interesting and amazing feature of the Web 3 gaming platform. This way, old game models are decentralized due to web3 gaming.
The web3 gaming procedure is personal, so each player has their own preferred game. Popular and old games can be upgraded due to web3 as it extends them into the metaverse vault, and players can make their life like avatars and even treat their favorite in-game collectibles and assets.
- Player-driven gaming
The gaming space is tailored by web3 gaming based on players’ preferences. There are multiple ways in which players get immense benefits from web3 gaming. Players get to play to earn aspect in web3 gaming, which helps them to earn profits through in-game items. Another benefit is old game integration, allowing players to play the games of their choice on the metaverse. Web3 gaming opens immense scope for player-driven gaming since it helps in self-sovereignty and benefits players immensely.
- Negligible Downtime
The ecosystem based on web3 gaming can run without interference from any central authority and with low maintenance costs. There is negligible downtime feature in web3 gaming since it comes with block minting and a high game data storage facility, making web3 gaming highly scalable.
- Transparent gaming
Web3 gaming ecosystem is a distributed procedure where games can be hosted on the blockchain network, making them unhackable. Blockchain-based games depend on voting consensus, which modifies the gaming procedure and makes them equally accessible to the gamers engaged on blockchain networks. Web3 gaming ecosystem ensures a higher transparency level.
- Participant-Centered Experience
Web3 games prioritize providing a participant-centered experience. This new gaming ecosystem lies in creating personalized experiences that will be the best incentive for gamers. Axie Infinity is a popular play-to-earn web3 game where players can earn profit with the help of their gaming skills and even improve the gaming ecosystem.
What are the components of the Web3 gaming technology stack?
Following are the key components of the technologies stack in web3 gaming
- Web3 libraries/dApps
Web3 gaming libraries enable players and game developers to interact with the blockchain platform. The DFS and libraries support assets and in-game transactions, which help interact with smart contracts. The web3 gaming dApps are built using Unreal SDKs or Unity.
- Smart contracts
Different game processes are governed and monitored with the help of smart contracts.
Decision-making and voting are well supported by smart contracts, which enable changes to be made and help in the evolution of the game. Remix IDE is used by game developers for writing, compiling, and deploying smart contracts. Several tools, such as brownies, hardhat, and truffles, are used for developing a local ecosystem.
- Node/Web3 providers
Web3 providers are nodes that are quite essential since they help to extract all the gaming information that is stored on the blockchain network. The Nodes play a significant role in the web3 developer stack since web3 libraries won’t be able to interact with the smart contracts without nodes.
- Digital wallets
Digital wallets based on blockchain are present in every web3 gaming ecosystem. A unique wallet address is used to identify players holding several in-game assets and gaming collectibles. Digital wallets play a crucial role for web3 gamers as they help to interact with a blockchain network.
- XR hardware
Haptic gloves, smart glasses, and scanning sensors are included in XR hardware which helps to link the gaming ecosystem with metaverse space and creates an engaging and immersive web3 gaming experience.
- Open interoperable media standards.
It comprises 3D scenes, audio, vectors, and text for powering decentralized 3D applications.
There are several other important aspects of web3 gaming, such as metaphors gaming and gaming DAOs
What is a Gaming DAO?
A gaming platform not affiliated with gaming operators or administrators and their open-source codes is known as a gaming DAO. At the core, gaming DAOs are communitarian and concentrate on developing a player-driven gaming ecosystem. They help redistribute gaming ownership in the entire community of diverse gaming ecosystems. Such redistribution occurs among game developers, traders, investors, and players. Gaming DAOs power play-to-earn feature within the Web3 gaming space. Gaming DAOs are some revolutionary concepts associated with gaming and help players compensate for their participation in games and their success. The old gaming models lack these benefits as they offer a one-sided value exchange facility to the game operators or administrators. Play-to-earn feature in gaming DAO rewards both the game developer and the player. The gaming economy is powered by play to earn, where players get rewarded for their gaming skills and techniques.
What are the distinct types of gaming DAOs?
Gaming DAOS is differentiated into three main types they are as follows
- Gaming guilds
It comprises e-sport teams, organized multi-game clans, and an informal gamers group that engages in play to earn. They are financialized since they act similarly to investment clubs where participants share their funds with gaming guilds for purchasing and acquiring in-game digital assets and collectibles. Players within gaming guilds play games with the help of these in-game collectibles and assets that they acquire in NFTs form. They also earn in-game tokens and split the revenue among all the players. Gaming guilds have massively affected the web3 game market since they have many accumulated in-game assets. The base of game speculators, gaming NFT traders, and new gamers is constantly growing.
- Incubators and accelerators
Gaming DAOs include accelerators and incubators. Both focus on growing the web3 gaming platform by offering expert knowledge to the platform’s founders. Incubators and accelerators are the experts who promise to fund the development of new gaming ventures. These experts offer technical solutions and advanced tools to upgrade and develop Web 3 games. They play a crucial role in supporting gaming developers and clans. This kind of gaming DAO helps to bring gaming investors and stakeholders together so that the web3 gaming sector can expand financially.
It is an important type of gaming DAO for game developers. This type of DAOs ventures into diverse web3 game developments on one common platform. It describes the terms and conditions of how the game will be developed. Smart contracts will monitor the terms and conditions.
What Web3 game development services can you launch into your business project?
If you want to hire web3 gaming development services for your business project, you should look for comprehensive services from top web3 development companies. Following are the common web3 gaming development services that you can expect from a good web3 development company
- Smart contracts
Any good web3 development company will provide you with smart contracts which will regulate all the terms, conditions, and codes for functioning gaming DAOs and metaverse so that no one can modify these smart contracts.
- Decentralized gaming platform
You should look for web3 development services from a company that can build and design blockchain-based gaming platforms as per your project requirements. The company should provide you with autonomous and decentralized designs for building a web3 gaming ecosystem.
- Gaming dApps
Web3 development services come with gaming and NFT experts who design, innovate, and launch your gaming and NFT marketplace. You will get a road map for your project along with a full-stack design analysis.
- 3D gaming spaces
Highly scalable and robust 3D gaming metaphors are some important website development services that you can get by hiring a good Web 3 development company, and this will create an immersive and engaging experience within the 3D gaming model.
The overall gaming landscape has been transformed drastically with the advent of Web 3 gaming. This is because blockchain technology and Metaverse are integrated into the gaming sector. The gaming industry has been democratized by removing central game owners and administrators of gaming platforms.
Different revolutionary technologies such as metaphors, DAO, and blockchain have come up, powering Web 3 gaming and strengthening the financial aspect of gaming platforms. With these revolutionary technologies, game players engage in lucrative activities like play to earn and in-game digital asset trading through NFTS. Web3 gaming is transforming the digital gaming industry completely.
Artem Ilchenko is a seasoned crypto enthusiast with a journey dating back to 2016. With a wealth of experience in blockchain technology, DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and the broader cryptocurrency ecosystem, Artem is a passionate advocate for the decentralized future. His deep understanding of the intricacies of blockchain and its innovative applications has positioned him as a valuable resource in the ever-evolving world of digital assets. Artem’s commitment to exploring and promoting the potential of blockchain technology has made him a noteworthy figure in the crypto community.