Everyone seems to be tipping Web 3.0 games as the future of gaming.
Indeed, the Web 3.0 gaming sector is the most heavily invested games economy sector at present, with billions of dollars being invested into the Web 3.0 gaming infrastructure and new games.
So, let’s take a closer look at how Web 3.0 is set to transform the gaming market.
Web 3.0 Gaming Will Disrupt the Gaming Economy Due to In-game Assets That Can Be Sold or Traded
Web 3.0 games differ from other games because they have in-game assets that players can actually own, by holding them in custodial wallets.
With the use of blockchain technology, players can own digital assets like Non-Fungible Tokens and Fungible Tokens.
They own those assets in precisely the same way as tangible assets are owned.
With liquid markets, people can sell or trade their assets, just like physical goods.
That approach is a stark contrast to a traditional free-to-play economy in which players are prevented from trading in-game assets for real-world value.
Web 3.0 Gaming Enables Players to Earn Rewards That They Can Keep Outside of the Games
Gaining things like Non-Fungible Tokens is possible because Web 3.0 games are based on the play-to-earn model. Players can be rewarded, such as receiving digital assets, simply for playing Web 3.0 games.
As mentioned above, those assets can then be stored in a wallet and sold or traded. So, that means that even if specific games shut down, people can still buy, sell, and trade the assets they gained through gameplay because they exist in the blockchain protocols, not in the games themselves.
Those digital assets cannot be lost or duplicated because they are recorded on the blockchain.
Web 3.0 Gaming Will Create More Democracy in Games
Web 3.0 gaming is based on decentralization.
No single entity has control over the market. Instead, the control is given to a wide number of game users, based on their market contribution.
As such, developers will not have to abide by the strict regulations that a centralized gaming market has. And users can create and develop gaming components completely democratically.
Legal Complications for Accessing Games Around the World Will Be a Thing of the Past with Web 3.0 Gaming
Games that involve money and rewards of monetary value are not currently available in all countries, due to jurisdictional and legal issues, which means global users are unable to access all the games available.
But with Web 3.0 gaming, users around the world will have the opportunity to play Web 3.0 games without facing legal complications.
That is due to the decentralized nature of Web 3.0 gaming. No legal entity can establish rules or restrain players from accessing Web 3.0 gaming platforms.
Businesses in the Sector Need Get on Board Early with Marketing for Web 3.0 Gaming
Owners of Web 3.0 gaming businesses will have to utilize growth marketing strategies as the gaming market begins to transform.
Thankfully, there are already companies that provide the right tools and automation for streamlining growth marketing, user acquisition, analytics processes, and the creative development of Web 3.0 games, such as Upptic.
The sooner that Web 3.0 gaming businesses adopt the right marketing approaches, the readier they will be to achieve substantial growth as the Web 3.0 gaming market continues to grow.
In the near future, Web 3.0 gaming is likely to become a dominant force in the world of video games, so companies involved in Web 3.0 gaming should get on board with workable marketing strategies right now.
It should now be crystal clear how Web 3.0 gaming is set to transform the gaming market.
- Web 3.0 Gaming Will Disrupt the Gaming Economy Due to In-game Assets That Can Be Sold or Traded.
- Web 3.0 Gaming Enables Players to Earn Rewards That They Can Keep Outside of the Games.
- Web 3.0 Gaming Will Create More Democracy in Games.
- Legal Complications for Accessing Games Around the World Will Be a Thing of the Past with Web 3.0 Gaming.
- Businesses in the Sector Need Get on Board Early with Marketing for Web 3.0 Gaming.