1. Science / Technology

How Web3 Gaming Is Revolutionizing The Gaming Industry?

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Web3 or World Wide Web 3.0 has already revolutionized multiple gaming industries, including the mobile gaming industry. Web3 games usually allow today’s players to engage with more games in decentralized and innovative ways. Instead of upgrading graphics or using powerful hardware, World Wide Web 3.0 gaming simply uses the NFTs, Metaverse, & blockchain technology. Utilizing these emerging technologies isn’t only advancing the overall gaming space but also revolutionizing it entirely.

Blockchain technology has the potential that brings gaming into the Web3 gaming space – according to blockchain development specialists. It also offers numerous benefits and opportunities to active players and gamers. Continue reading and unfold the major aspects of World Wide Web 3.0 games and its unique features.

What is a Web3 Gaming Platform?

The objective of World Wide Web 3.0 games is to decentralize the games and it allows creators and gamers to own the assets & also engage in ecosystem decision-making. Web3 is a unique concept of a third-generation Internet, powered & decentralized by a blockchain platform & the token economy.

Web3 games, also called play-to-own, play-to-earn, blockchain, crypto, or NFT games are digital games that use blockchain technology. It also offers a range of interoperability among multiple gaming ecosystems by linking the in-game assets. All these assets are distinctive & stored as NFTs. Here are the three stages of the world wide web gaming concepts.

  • Web1: The World Wide Web usually relied on open standards and open sources. This is the earliest internet version that helps businesses for broadcasting their information
  • Web2: Web 2.0 or Web2 allows users to collaborate & interact through user-generated content. It also focuses on contributing and participating.
  • Web3: Web 3.0 features a value exchange model. It also includes major internet decentralization and self-sovereignty.

Key Features of Web3 Games

The basic feature of web3 games is the ownership control that enables self-sovereignty. This is a unique gaming approach that is very practical for players as compared with traditional gaming. It builds a value-exchange model where users can trade as well as own in-game objects & collectibles in the form of NFTs. Moreover, it also offers decentralization and self-sovereignty in gaming. Here are some key features of World Wide Web 3.0 gaming:

  1. Interoperability & Ownership

Decentralized games offer self-sovereignty where users can own in-game assets as NFTs. In conventional games, players can also own collectibles & in-game assets but here is a problem. But if they want to change their gaming platform, they will lose all in-game assets. Fortunately, the web 3.0 gaming platform solves this problem by offering interoperability & true ownership between multiple platforms. This means users can own assets on one gaming platform & use them on other platforms.

  1. Old Game Integration

Another key feature of web3 gaming is upgrading & integrating older games into blockchain or metaverse platforms. This feature makes these games completely decentralized. The process of gaming is personal & each gamer has some preferred choice. Web3 helps to upgrade popular and old games by adding them into the metaverse, where gamers can easily make unique avatars and also own their in-game assets as well as collectibles.

  1. Player-driven Gaming Economy

World Wide Web 3.0 gaming mainly tailors a player-driven gaming experience. This means, depending on the player’s needs, the Web 3.0 gaming ecosystem can be customized. Integrating the crypto in gaming through Play-to-Earn (P2E) model creates the entire gaming economy more approachable & it also empowers the gamer to engage in this economy.

The native integration between the P2E economy including economic techniques, virtual assets, player coordination models, etc and the traditional game economy builds an adequate distribution framework for every player. This also aligns incentives for developers and gamers, along with making digital asset ownership.

  1. Gaming Transparency

The third-gen version always promises great transparency in gaming. With a distributed framework, Web3 games are usually hosted and stored on the blockchain network to make them completely unhackable. The Decentralized Autonomous Organizations or DAO (blockchain technology feature) merge high transparency levels in this model. DAO offers the voting consensus for gaming modifications. With no risk of failure, this voting consensus is highly accessible to every player on the network.

What is a Gaming DAO?

Gaming DAO works as a gaming platform which is fully based on open-source code. This is not affiliated with other gaming operators or administrators. Technically, DAO is a community and it focuses on making a completely player-driven gaming environment. DAOs can effectively redistribute the gaming ownership in a community of different gaming ecosystems. This redistribution mainly occurs among game developers, players, investors & traders.

In Web3 gaming, DAOs power play-to-earn. The gaming DAOs are superior concepts that compensate gamers for their participation and gaming success rate. Conventional gaming models never enjoy the equal benefits & deliver a one-sided value exchange to game operators or administrators. This play-to-earn feature of gaming DAOs rewards both the game developer and the player. It also powers the economy of gaming, where every player is rewarded for their gaming skills. The gaming DAOs are differentiated into 3 fundamental categories:

Gaming Guilds

Gaming guilds build informal gamer’s groups, e-sport teams and organized multi-gaming clans engaging in play-to-earn on a single community ground. These guilds are mainly financialized because they function for investmenting clubs & the participants share gaming guild’s funds to acquire as well as purchase in-game assets.

Players in guilds can play games with their in-game digital assets achieved in NFT forms, split the revenues and earn in-game tokens among every player. Gaming guilds affect the whole market of web3 gaming massively because they accumulate in-game digital assets. Moreover, there is a growth base of game speculators, new gamers, & NFT traders.

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Incubators & Accelerators

Another major type of DAO involves incubators & accelerators. They mainly focus on Web3 gaming platforms by offering their knowledge to the founders of the platforms. These expert accelerators & incubators promise funding to establish advanced gaming ventures. They also offer new technical solutions & tools to create and modify Web3 games.

Technically, accelerators & incubators both play one of the integral roles in developing the Web3 gaming ecosystem by taking initiatives & delivering strategic gaming grants to support the developers and gaming clans. This type of gaming DAO gathers all gaming stakeholders as well as investors for expanding web3 gaming financially.

Developers

Last but not the least, this gaming DAO allows developers to directly interact with game players & receive fundings via community-governed tokens & smart contracts. By eliminating intermediaries & offering transparent ownership, this gaming DAO builds an innovative model for both gamers and developers. It makes direct engagement with players more easy & gives developers huge control over their gaming projects while allowing players to be more involved in the game.

The possibilities for the developer gaming DAO is endless, from crowdfunding initiatives to gameplay rewards. This futuristic model is just an example of the revolutionary impact of web3 technology in the gaming industry. The entire gaming industry is evolving at a good pace. The increasing demand of web3 technology & decentralization opens new opportunities for developers & gamers as well. This advanced & futuristic gaming era promises to be more engaging, inclusive, and transparent.

What are The Components of The Web 3.0 Gaming Technology Stack?

  1. Web3 Libraries or dApps:

Web3 libraries allow players and developers to interact seamlessly with the blockchain. These libraries or dApps also support in-game assets and transactions and they also help to interact with the smart contracts. Unity and Unreal SDKs are usually used to establish Web3 gaming dApps.

  1. Smart Contracts:

Smart contracts govern or monitor multiple gaming processes. They can also manage decision-making & voting on game evolution changes. Remix IDE is a well-known resource that effectively writes, deploys, and compiles smart contracts. Moreover, tools like Brownie, Truffle, or Hardhat are also simple to use when local development ecosystems are required.

  1. Nodes or Web3 Providers:

Nodes/Web3 providers are mainly used for extracting gaming info on the blockchain. Nodes are integral parts of the Web3 developer stack. Nodes allow Web3 libraries to interact with smart contracts.

  1. Digital Wallets:

All web3 gaming platform types have blockchain-based digital gaming wallets. The wallet address is mainly used for identifying players. It holds multiple collectibles as well as in-game assets. Digital wallets are the essential parts of every Web3 game that interacts with blockchain technology.

  1. XR Hardware:

XR hardware mainly includes haptic gloves, smart glasses, scanning sensors, etc. This is known as extended reality hardware that plays a very significant role in making a unique gaming ecosystem with metaverse technology for engaging & immersive World Wide Web 3.0 gaming experiences

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Final Words

The World Wide Web 3.0 gaming concept has completely transformed the gaming ecosystem by integrating blockchain and metaverse technology. Moreover, with these revolutionary technologies and DAO, Web3 gaming also helps in all financial aspects of multiple gaming industries. Web3 gaming development is democratizing rapidly and has introduced a monetization aspect. In addition, it also brings new opportunities to the gaming space. For more info and queries, consult with the expert team at Sphinx Solutions.

FAQ’s

What is a Web3 game?

A Web3 game is a type of blockchain-based game that runs on a decentralized network, allowing for trustless interactions between players and developers. This type of game makes use of smart contracts, decentralized applications, and various other blockchain technology features.

How Web3 games are built?

Web3 games are built on blockchain technology, so it’s essential to have a good understanding of blockchains, NFTs, and smart contracts. A blockchain is a decentralized and distributed digital ledger that records transactions across a network of computers.

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