Web3 Gaming: How to Join The New Era of Technology Transformation?

• By Patricia Smith
• 27-06-2023
• Technology

Over the last few years, the web3 gaming industry is enjoying overwhelming growth. Unique skin, exceptional collections, and real-life-like characters are some reasons for gaining huge popularity of web3 gaming platforms such as games like Sorare, Axie Infinity, Alien Worlds, Splinterlands, and Upland among modern players.

The power of new age web3 play to earn platforms is attracting new users and making it a home for new communities rather than games for monopolies.

If you are also planning to join the era of web3 gaming, but have some doubts, then this blog could be worth reading for you. Here you will read,

• What is Web3 and How Does Web3 Work?
• Difference Between Web2 & Web3 Gaming
• Web3 Gaming Market Size
• How To Make A Web3 Game?
• Unique Features of Web3 Gaming
• How Do Web3 Games Make Money?

Let’s scroll down and learn all about web3 game development.

What is Web3 and How Does Web3 Work?

Web3 platform is one step ahead of web1.0 and web2.0 as designed from combined features of a decentralized economy. It gives more control over users' activities and enables peer-to-peer data sharing without third-party involvement with increased blockchain technology security.

What is Web3 Gaming?

Web3 game is a digital game crafted with the abilities of AR & VR technologies and packed with the power of Machine Learning, Artificial intelligence, and blockchain technology. Web3 games are not only limited to the fun and entertainment of players but also provide opportunities to earn while playing in the form of NFTs across multiple platforms.

How Does Web3 Gaming Platform Work

The functionality of the web3 gaming platform revolves around blockchain technology that power-up players to buy, sell, rent, or trade in-game assets. Here we have listed key components of the web3 gaming platform and how these function.

• Blockchain: It enables users to make transactions with great security and transparency. Users can also have greater control over assets compared to traditional platforms.
• Smart Contract: Designed with certain codes to automate transactions that comply with certain conditions. It enables players to buy or sell assets and manage the ownership, transfer, and trading rights.
• Governance And Community-Driven Development: DAO enables players to manage gaming communities over decentralized platforms. Some of the gaming DAOs are incubators, accelerators, grant DAOs, gaming guilds,
• Transferrable In-Game Assets: It allows players to transfer virtual items in exchange for cryptocurrency that stores in blockchain technology.
• Digital Wallets: Web3 gaming platforms use digital wallets to collect digital assets. Web3 wallet is just like a regular wallet in their store cryptocurrency.

Difference Between Web2 & Web3 Gaming

Web3 Gaming Market Size

Web3 gaming platform has an exciting and promising future. Powered by Blockchain technology, NFT marketplace, Cryptocurrency, and more motivate users & developers to open up lucrative gaming opportunities for gamers, developers, & investors.

A report showcased market trends of the web3 gaming platform involves;

• The market size of the web3 gaming platform in 2023 is valued at USD 9.12 Billion and is expected to reach USD 1,020.02 Billion in 2032.
• The expected CAGR Growth of web3 gaming is 68.9% from 2023 – 2032
• Games that are in high demand involve - Collectible Games, Role Playing Games, Open World Games.
• “Over $100 billion are spent by players every year on in-game items,” Ferguson said,
• The role-playing games segment in 2022 accounted for a revenue share of more than 36.0%.
• The polygon segment in the web3 gaming platform is anticipated to register the highest CAGR.
• Web3 games like Alien Worlds, Meta Apes, Planet IX, and PROSPECTORS have the highest number of players.

 

Source

How To Make A Web3 Game?

Building a web3 gaming solution is a crucial decision, as one needs to be aware of all the titbits of the development to create the next-gen gaming solution. Below we tried to curate all the essentials of how to make a web3 gaming platform.

Figure Out Key Technologies

Before developing a game, it is important to understand all the essential technologies to be used in your platform. These tech stacks include tools, frameworks, languages, libraries, and more. Some of these are mentioned below;

• Programming Language: MEAN | PHP | Solidity
• Database: MYSQL
• Design: Twitter Bootstrap

Apart from these, web3 gaming platforms cannot be embedded without blockchain, NFT, and smart contracts. The decentralized and distributed ledger records transactions in blocks across a network of computers.

Pick The Right Blockchain Technology

There are many blockchain technologies, and each one varies with its unique features & functionality. Therefore, it is essential to conduct research based on scalability, fees, liquidity, and MAUs before choosing the right fit blockchain technology.

While scrolling on the popular web3 gaming platform, you will see various transactions backed by Polygon, BSC, Ethereum, Tezos, Flow, and Klatyn. These blockchains also employ smart contracts, NFT tokens, crypto wallets, and more that makes a web3 secured platform to play and earn.

Look For Help Getting Started

Building a web3 game could be a daunting task, especially when you don’t have all the resources in one place. For this, taking assistance from the leading web3 development company could be a fruitful strategy that has the potential to unlock open-source technologies. These can help to make a perfect fit solution. Above all, experts can also craft a wide range of features for your platform.

Consider Play-To-Own & Play-to-earn economies

Web3 gaming platforms are designed with the aim of serving complete ownership rights to the users. Therefore these are designed with the strategies of how businesses and users can earn money while playing. Web3 gaming solution provides various NFT-based reward-earning opportunities to users. This means players can buy, sell or exchange in-game assets and create new economies in the gaming world.

Embrace NFTs

On the journey of making the web3 gaming platform, another essential segment is embracing the NFT marketplace. It enables players to buy, sell and rent their in-game assets with the power of cryptocurrency. You can create your own NFT marketplace and tokenize in-game assets. Otherwise, use Opensea, Rarible, or other similar platforms to sell weapons, lands, dresses, accessories, shoes, and more.

Fill it With Pleasure & Engagement

Another prominent factor is to work on the game engagement level. Make sure it must be entertaining, engaging, and packed with features of various challenges levels. You should also add good-quality graphics and audio to keep people engaged and focused while playing. When it's about developing challenges, be clear these must be accessible to all. Building communities and sharing rewards and achievements are also crucial factors that enable players to stay motivated.

Build A Strong Community

Building communities on the web3 gaming platform is crucial for the success of the platform. It helps players and developers to promote games and provide feedback and suggestions to add new features and functionalities. Community creation also builds a sense of ownership among users that keep users engaged and developers listening to feedback for improvements. Users can also discuss various topics, such as how to get gaming assets, clear certain difficult levels, and more.

Integrate Open Standards And Best-In-Class Tools

Open standards and best-in-class tools enable developers to craft interoperable, secure, and scalable web3 gaming platforms. Integrating open standards such as MetaMask (wallet) and Truffle (smart contract development), and Infura (blockchain connectivity) ensures the web3 platform is compatible with other parts of the gaming and web3 ecosystem. As a result, users can buy in-game assets and trade them with the leading crypto wallet.

Work On Security

Security is a major concern for your web3 gaming platform as investors will be going to invest real money to buy digital assets or level up their stage. Therefore, you must focus on a robust smart contract. The “And,” “IF,” and "THEN" conditions followed platform can enable only secured transactions functionality.

Unique Features of Web3 Gaming

Web3 gaming offers several features, from high transparency to greater control over digital assets. Utilizing these features on your platform makes the game effortlessly accessible for all your users.

• Digital Security
• Transparency & Availability
• Provenance Tracking
• In Game Economy
• Interoperability Between Game And Platforms
• Players Driven Gaming
• Ownership And Control

These were the basic features; the rest can vary from your web3 gaming platform.

How Do Web3 Games Make Money?

For the web3 gaming platforms, there are several business models available to make money. The majority of them use their own currency to reward their players in the form of tokenization and boost their engagement level. Companies are also creating recurring revenue by utilizing various sources of the weg3 gaming platform. Let’s check out these.

In-game purchase

Selling in-game digital assets is a traditional way to generate revenue. But in the web3 gaming platform, these assets are packed with advanced features such as weapons, costumes, avatars, and virtual land to attract the audience. Also, the web3 gaming platform provides opportunities to sell NFT-based game items across different platforms to other players. Businesses can earn boost income by continuously bringing new assets onto the platform.

Advertisements

Promoting products on the platform is another crucial factor in generating revenue. Gaming businesses can promote other platforms with flash ads of other platforms and earn income. Basically, it's an old money-making technique, but helpful in every age.

Paid level up

Sometimes, even after multiple attempts, clearing a gaming level could be an annoying experience. Paid level-ups are possible for gaming enthusiasts. It enables players to switch certain levels and enjoy the next with new energy. Businesses can fix charges based on difficulty level and help players to enjoy gaming experiences with a whole new approach.

Go live

Going live on gaming platforms has become a passion for iGeneration. And you can transfer their passion into cryptos. You can charge a specific amount from users allowing them to be live and showcase their talents to others. Also, you can allow more players to participate in exclusively designed tournaments.

Additional downloadable content (DLC)

You can offer additional web3 content, such as past players' videos on how to play games? How to clear a certain level?What is the highest score? And many more. Listing such content on the NFT marketplace motivates users to be the first to download paid content and acquire special rights. Besides that they can sell, rent or exchange these videos to budding players. Platform again can generate income as commission on secondary sales of digital assets on the platform.

Yield Farming and Staking

Under yield farming, you can lend the highest-demand virtual assets by tokenizing them, just like platforms like Alien Worlds, Axie Infinity, The Sandbox, Step App, NFT Worlds and others play to earn and move to earn do. However, staking enables you to use native tokens and contribute to the security and decentralization of the ecosystem while earning TLM as reward.

Money-Making Model For Players

Web3 gaming not only sticks to generate income for developers only, but provides enough opportunities for players too.

Web3 gaming platform also rewards players for their time and efforts put into a game. The platform rewards users by offering various NFTs to clear a certain level. Users can sell, exchange or rent these assets in the secondary market. It's a risk-free avenue and brings millions of people to the platform.

Wrapping Up!!

Hoping you have learned all about the web3 gaming platform, from market size to making money, developing games, and understanding its working scenario and features. A decentralized platform is ready to revolutionize the industry with top-notch security, permissionless functionality, and high transparency. Blockchain technology is a great model. Therefore key players - Fortnite, Grand Theft Auto, and PubG are also planning to join the race of blockchain technology.

So, it's the right time for you to step forward and build your unique gaming platform with industry experts.