Web 1 to Web 3: Redesigning gaming experiences

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If you’ve ever had parents chastise you for wasting time playing and you never knew how to respond well, now you can. With Web 3 games and current game streaming efforts delivering economic benefit, an industry that was primarily a medium for entertainment and sports is being redefined as a new creator economy. No wonder, the $1.8 billion gambling market in the country is expected to triple to $3.9 billion by 2025, according to a recent KPMG valuation.

Just ten years ago, what most people knew about the game was generally in the context of its earlier Web 1 or Web 2 game avatars. Web 1 was the era of single player play on early game setups console. You competed against yourself, practicing game scenarios over and over with the intention of improving time and score. Today, casual one-person games like word games, Sudoku, etc. always mimic a Web1 game behavior. But while it worked as entertainment, the lack of interactivity didn’t quite unleash a mainstream gaming culture. Web 2 made this possible.

With the advent of technology allowing connectivity and interactivity between several computers, the gaming experience on the Internet has undergone a major evolution. Now you can enjoy multiplayer gaming with anyone around the world, connecting to a social gaming revolution from home. In Web 2, you found friends on the Internet, logged into chat rooms, and joined communities that bonded over all things gaming and esports. However, the game publisher-developer-broadcaster ecosystem has always played a key role in shaping this experience. Web3 aims to reinvent gaming experiences by putting the consumer in the driver’s seat.

The power in the hands of the players

At the heart of the Web3 experience are independence, consent and collaboration. By shifting powers from a centralized authority or gaming company to a DAO (which is largely governed by predefined community rules enforced via blockchain), the idea is to give people, and in this context to the players, one voice. It starts with putting ownership of in-game assets (coins, tokens, drops, skins, etc.) in your hands. You are free to trade them without worrying about loss of privacy, loss of possession, or depending on a third party to approve your access to assets. You can also acquire some that are not specific to a particular game. So you not only lose an asset when you stop playing a game or say the game is suspended, but you can leverage it across multiple games, giving them unprecedented interoperability. Then, with decentralized decision making, there is a greater likelihood that the value of your assets will be preserved. Gone are the scenarios where an arbitrary game rule change by a publisher decimates the value of your earned assets after hours of faithful play.

In addition, serious and loyal players also have the opportunity to earn governance tokens, thus obtaining voting rights on the evolution of a game. Your decisions regarding the rules of the game, the definition of the game experience and even the way you profit from them have real potential to see the light of day if they are popular in your DAO community. Isn’t that an excellent example of democracy in action?

Value for gameplay and loyalty

The most transformative aspect that Web3 gaming pushes is how it can move you from passive or pay-to-play (P2P) gaming models to game-to-win models. In P2P, players invest money to get better gaming experience. In such case, developers are likely to release updates every few months to create a continuous source of monetization, which might end up frustrate the public. Web3 games (especially Crypto games) turn the tide by rewarding players for the time and effort they put into the game. collection whose exchange value can be decided by the buyer and the seller without the intervention of any other authority. For developers, this means getting a small percentage of every in-game transaction that is recorded on the blockchain, bypassing the need for intrusive updates that can ruin the audience experience. This evolution of in-game economies allows different entities and players to bring healthy liquidity to the gaming world. We have already started to see the first use cases of commerce in game streaming scenarios.

To a good game

Another way decentralized gaming improves the gaming experience is by solving cheating and hacking issues. With distributed servers, the possibility of hacking is almost zero, so issues like data loss, cheating, or manipulation of game rules, which can ruin the gaming experience, become unlikely.

But even if a Web3-led world seems inevitable, the speed at which the industry’s ecosystem evolves to unlock its potential will define its rate of growth. First, countering public impressions of the sustainability of Web3 game models must become a priority area. Is it possible to have games that tick all the boxes – fun, engaging, and run on a solid incentive program without them being short-lived wonders? Second, given that user-generated content is at the heart of a lasting engagement experience today, how well equipped are game streaming companies to provide a canvas for creating unique and opportunities to win while playing? Third, with monetization capabilities becoming an attractive proposition to attract more players, real work needs to be done to create reliable digital assets that would not be susceptible to volatility and rapid price changes. While there are people who believe it’s myopic to see games as a ‘winning’ proposition, everyone agrees that for the industry to truly grow, we need to get back basically. Creating a great game and gaming experience is the foundation and everything else is just potential waiting to be unleashed.



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Disclaimer

The opinions expressed above are those of the author.



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