Time to read: 7 minutes
Date: March 15, 2023
The convergence of web3 and gaming is an exciting prospect with the potential to revolutionize the industry. Web3 gaming utilizes distributed ledger technology (DLT) and non-fungible tokens (NFTs) to create unique, shareable items and smart contracts to run marketplaces. However, despite the potential of web3 gaming, it has yet to find its killer app. Developers are struggling to make web3 play-to-earn (p2e) games work as the addition of a blockchain layer makes the process exponentially harder.
In order for web3 games to be successful, developers must first create an enjoyable game that incentivizes players with rewards, rather than relying on their own token or limited NFTs with high floor prices. Examples of successful p2e games include Diablo 3's auction house and Counterstrike drops, where players can earn money by playing for fun. With the right combination of fun gameplay and web3 features, developers have a chance at success in this burgeoning market.
What are Play-to-Earn Games?
Play-to-earn (P2E) games are a type of video game that allows players to earn real-world money or cryptocurrency through playing the game. These games use blockchain technology and non-fungible tokens (NFTs) to provide a secure and transparent way for players to earn rewards. P2E games are different from traditional video games in that they offer players the opportunity to monetize their gaming experience.
Examples of popular P2E games include Axie Infinity, CryptoKitties, and Gods Unchained. Players can earn rewards by playing the game, trading items, or participating in tournaments. These games have the potential to revolutionize the gaming industry by providing new ways for players to engage with the games they love and be rewarded for their efforts.
Overview of the Current State of Web3 Games
The concept of play-to-earn (P2E) games is relatively new, and has been met with both excitement and skepticism. These games use blockchain technology to allow players to earn money from playing video games, but the reality is that this type of game is still in its infancy. Many developers are struggling to make web3 P2E games work as the addition of a blockchain layer makes the process exponentially harder. At present, most web3 games are not particularly enjoyable from a gamers perspective and there is little incentive to play them without the promise of money.
Examples of successful P2E games include Diablo 3's auction house and Counterstrike drops, which offer players the chance to earn money by playing for fun. However, most web3 games today are not designed with entertainment in mind and rely on their own token or limited NFTs with high floor prices to attract players. This means that many gamers are put off by the idea of playing these games as they don't seem particularly enjoyable or rewarding. If developers can create web3 games which are genuinely entertaining and rewarding for players, then they may have a chance at success in this burgeoning market.
Examples of Existing Popular Games Incorporating Web3 Features
The world of web3 gaming is still relatively new, but there are already some popular games that have incorporated web3 features. For example, the popular game Diablo 3 has an auction house where players can buy and sell items for a profit. Similarly, Counterstrike drops and similar games offer players the chance to earn money by playing for fun. Bootie games like Axie also provide players with the opportunity to create game pieces that can be sold in the market. Finally, the Web3 Hook Protocol is a gamified learning experience that imparts web3 concepts. These are just a few examples of how web3 features are being incorporated into popular games today.
Necessary Components for a Fun and Rewarding Experience
Creating a successful web3 play-to-earn game requires more than just blockchain technology. Developers need to focus on creating an enjoyable and rewarding experience for players, as well as incorporating web3 features. This means that the game must be fun to play and offer players an incentive to keep playing. Additionally, games should incorporate NFTs or their own token currency in order to attract players. Finally, developers should consider ways to make their game more engaging, such as gamified learning experiences or virtual sports games. If developers can create a game that is both fun and rewarding, they have a chance of success in this burgeoning market.
Lack of Engaging Experiences
The main issue with many web3 games is that they lack engaging experiences. Without an enjoyable and rewarding gaming experience, players will not be enticed to play the game, regardless of the potential to earn money from it. Developers need to focus on creating an actual good game before they can hope to make it profitable. Popular brands may integrate NFTs into their games in order to attract more players, but this will only work if the game is actually fun and rewarding for players. Ultimately, developers need to create web3 games which are genuinely entertaining and rewarding for players in order for them to have a chance at success in this burgeoning market.
Difficulty in Attracting Non-Crypto Natives
Attracting non-crypto natives to web3 games can be a difficult task as they may not understand the concept of cryptocurrency or blockchain technology. Furthermore, many gamers are put off by the idea of playing these games as they don’t seem particularly enjoyable or rewarding. Developers must focus on creating an actual good game before they can hope to make it profitable and attract new players. Additionally, existing popular brands may integrate NFTs into their games in order to attract more players, but this will only work if the games are actually fun to play. Ultimately, developers must create web3 games which are genuinely entertaining and rewarding for players in order to have a chance at success in this burgeoning market.
Need for Compelling Use Cases for Web3 Features
Developers need to focus on creating an enjoyable game that incorporates web3 features without making them the central focus. This means finding a compelling use case for web3 features that will attract gamers and make them want to play the game. Examples of successful web3 games include Magic The Gathering, Axie, and Diablo 3's auction house. These games have found ways to make web3 features fun and rewarding for players, which is key to the success of any web3 game. Additionally, developers should look into tokenizing the entire internet so that every picture, video file, and webpage requires payment via a token currency. This would open up the internet and create more opportunities for people to earn rewards through virtual sports games or other activities. Ultimately, developers need to find creative ways to make web3 features an integral part of their games in order to make them successful.
Focus on Making a Fun Game First
Creating a successful web3 game requires more than just incorporating blockchain technology. Developers need to first focus on making an enjoyable and entertaining game that people want to play. This means creating a game that is engaging, rewarding, and fun. Once the game is developed, then developers can start to incorporate web3 features such as non-fungible tokens (NFTs) and smart contracts. By focusing on making a fun game first, developers will be able to create games that are more likely to be successful in the long run.
Creating a successful play-to-earn game in web3 is no easy task. Developers must consider the components necessary for a fun and rewarding experience, while also overcoming the challenges of attracting non-crypto natives and developing compelling use cases for web3 features. Fortunately, there are solutions available to help developers create profitable web3 games. By focusing on making a fun game first, utilizing existing popular brands to integrate NFTs, implementing hook protocols for gamified learning experiences, tokenizing the entire internet, and creating virtual sports games with rewards, developers can create a successful play-to-earn game that is sustainable in web3. With the right strategies in place, developers can create an engaging and rewarding experience for users that will keep them coming back for more.
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