Remember the time when you stepped into the shop to buy your very first Gameboy? Or brave the elements to wait for the release of the latest gaming consoles? Those days seem like ancient history with the advent of online gaming. As with the gaming technology of the past, another new trend is growing at a blistering pace. If you enjoy playing video games, this might be the next exciting world you should consider entering.
Welcome to the World of Web3
Web3 gaming is the next evolution of online gaming that involves the integration of blockchain technology, decentralised finance (DeFi), and non-fungible tokens (NFTs) into traditional online games. The goal of web3 gaming is to provide players with a more immersive and interactive gaming experience while also providing them with ownership and control over their in-game assets.
Unlike traditional games where people mainly earn money only if they are professional players, successful streamers, YouTubers, or influencers, Web3 gaming enables even casual players to earn and trade cryptocurrency while playing the game,
Web3 gaming enables real ownership and control over in-game resources. Players don’t actually own the in-game assets in conventional online games because the game developer retains ownership over them. Web3 games, on the other hand, give players complete ownership of all of their property, which they can even sell for real money on sites like OpenSea.
Another important aspect of web3 gaming is the integration of DeFi protocols, which enable players to earn interest on their in-game assets providing gamers with additional revenue streams. For example, players can use their in-game assets as collateral to borrow cryptocurrency or earn interest by staking their assets in liquidity pools.
Play to Earn (P2E) and Play to Own (P2O)
Both the Play to Earn (P2E) and Play to Own (P2O) gaming concepts were created by Web3 gaming. In short, gamers make money while playing or having in-game items that are valuable. It is because of this that Web3 games have experienced explosive growth in popularity, which has resulted in players profiting greatly from the in-game items and tokens.
One of the main features of web3 gaming is the use of NFTs. NFTs are unique digital assets that are stored on a blockchain and can be traded and owned by players. In web3 games, players can own and trade in-game assets such as weapons, armour, and virtual real estate as NFTs, giving them complete control over their virtual assets and making them valuable outside of the game.
A New Challenger has Appeared: Play and Earn (P&E)
At the rapid pace of Web3 gaming growth, the play/earn model naturally evolved into this modified version of P2E. This strategy, in contrast to P2E, emphasises having fun while playing games and puts the gamers’ interests first. Play and Earn aims to fix P2E’s flaws so that game developers can finally perform their jobs and concentrate on making games that players will like.
In Play and Earn games, the idea of earning money is merely a side element; players still get NFTs or other incentives for their efforts. However, these incentives are not the major attraction of the game, so novice players won’t need to invest a lot of money in starting out.
Now that we’ve covered the three different ways of earning for web3 gaming, let’s explore the games that have made waves in this space.
Amidst the sea of games that are available out there, here are our top 5 picks for you to jump in and get started in web3 gaming.
Let’s start with one of the games that helped shape what web3 gaming is today, the ‘OG’. Axie Infinity has been on the roller coaster of the web3 gaming journey for quite some time, experiencing extreme bull markets as well as the feeling of a market going the other way. Axie Infinity is a relaxing and straightforward strategy game. The game is based on NFT technology, which allows players to own in-game NFTs and earn the game’s Ethereum-based token.
The game token AXS experienced one of the wildest bull runs in web3 history, rapidly rising from $0.10 to over $150. This was the pinnacle of Axie Infinity and cryptocurrency in general. AXS’s value has now plummeted to just $7.
Although it may not appear to be much, Axie Infinity is still a must-play game if you want to get started in the web3 gaming space.
CryptoKitties is another decentralised collectible game in which players can collect, breed, and trade digital cats. The Ethereum-based game is credited with popularising the concept of non-fungible tokens (NFTs) and inspiring a slew of imitators.
CryptoKitties has a thriving player community that has amassed over a million unique digital cats, making it one of the most popular and successful Web3 gaming projects to date.
Gods Unchained is an Ethereum blockchain-based “play-to-earn” NFT trading card game. It is created by a team led by Nick Clay (the former director of Magic: The Gathering Arena).
Gods Unchained is a traditional card game with a playstyle and presentation similar to Hearthstone. The goal of the game is to build the best deck and compete against other players.
The NFT features in this game are added by cards found in decks. They can be traded on the Immutable X Marketplace. Each card is distinct and this introduces a novel approach to in-game collectibles.
Alien Worlds is aimed at people who are interested in the universe, planets, and space travel. It makes use of NFTs to connect and play with others. Trilium, which “gives you power in the Planet Decentralised Autonomous Organisations (Planet DAOs),” according to the official Alien Worlds website, can be earned in Alien Worlds.
Alien Worlds is a Web3 game built on the Ethereum blockchain with a promising future. It’s essentially a tokenised metaverse, which means that the in-game assets you use have monetary value.
Alien Worlds has already made significant progress by creating a solid, exciting game with a dedicated community. With that said, the game still has a lot in store for it, as well as a bit of a road map ahead of it.
Splinterlands is a digital collectible card game that is played on the blockchain. In the game, players collect and trade cards, which represent different creatures that they can use to battle against other players.
Players can earn rewards for winning battles, and they can also earn Dark Energy Crystals (DEC), Splinterlands’ native cryptocurrency, which can be then used to purchase cards and other in-game items.
Everybody is a Winner with Web3 Gaming
Overall, the evolution of web3 gaming is set to revolutionise the online gaming industry by creating a more immersive, interactive, and rewarding gaming experience for players.
With the integration of blockchain technology, NFTs, and DeFi, web3 games provide players with true ownership and control over their in-game assets, paving the way for a new era of online gaming.