From Web2 To Web3 Gaming, A Shift Redefining The Gaming Industry

Over the past few years, many of our hobbies and interests would have changed. Many of our past times would have become our passion. Our passion would have become our profession. The pandemic also served as a period of many self-discovery and realization. During this period, a huge population of people discovered gaming. The isolation and monotony were slowly tackled with gaming. This was a huge gift for the game developers and studios. They predicted a stable growth in the gaming industry. 

The Other Side Of Gaming 

Only gamers will understand the spirit and community that you build through gaming. While gaming can be addictive and immersive, at some point, the players want to take their gaming to the next level. 

Well, guess what? The time is here to take your game to the next level. The introduction of 'Web3' can address gamers' fantasies and dreams. Let's go further and understand more about Web3 and how it can impact the gaming industry. 

What Is Web3?

In simple terms, Web3 can be described as a more advanced and better version of the internet. There are some core ideas that the Web3 is built on

• Decentralization: Instead of the internet being controlled by a centralized entity, the ownership belongs to the users and the builders 
• Payments: The spending and sending of money can be done through cryptocurrency. We no longer have to rely on local currency. 
• Permission: The aspect of permissions will be completely removed in Web3. Anyone can be part of the Web3 space. 

What Makes Web3 Important? 

• Ownership 

Web3 is particularly very conducive for the gaming industry. Let's understand this by comparing Web2 and Web3 games. In a Web2 match, all the in-game assets and rewards you purchased and earned will stay inside the game, i.e., you might spend huge sums on buying the assets. At one point, after the game ends, all the assets will go redundant. Thus, all the profit is now for the game studio. 

Whereas, in Web3, since everything is tokenized, all that you earn within the game will stay under your ownership. 

• DAOs

DAO is a system that works with no central leadership. DAO is a smart contract stipulated by an agreement that facilitates decentralized decision-making over a pool of tokens. Users who hold these tokens can vote and have a say in how the resources get spent, and the code will automatically generate the voting outcome. 

• Unique Identity 

In some cases, censorship can be a major loophole in social media. In a traditional setup, we usually create an account for every platform we use. If we have accounts on multiple social media platforms, and if we were to change the profile pictures, we'll have to do it across every account. There are chances that we might even sign out of our accounts forever. In worst cases, many platforms might even ask for your personal information to create your account. And all this could happen in a couple of clicks. 

Web3 can be our savior in all these cases. Web3 lets you control your digital identity and presence with an Ethereum address and ENS profile. 

• Web3 Gaming 

If you are an ardent gamer, think of the time and effort you put into gaming. Don't you deserve some huge rewards? Web3 is here to give you all the tips that you deserve. The future of gaming is going to be based on the foundations of blockchain. Even the game developers are looking to develop games with fair tokenized rewards apart from the bonus they acquire from the competition. Thus, gaming can even become your source of income. Only blockchain-based games can offer this advantage. 

Benefits Of Web3 Gaming

• Security 

In Web3, your information can be completely secure, i.e., Your information will not be shared with third parties. The security is maintained in terms of payment also. The usual fraudulent payment that happens with credit and debit cards can be completely avoided in Web3. 

• Even Distribution Of Profits 

The many mammoth companies in Web2 charge up to 30 percent to allow developers to sell their games on their websites. The uneven distribution of profit can be another major drawback of Web2. Gains in Web2 Gaming are acquired by the leading actors who dominate the, and the payoff will be distributed unevenly. The end-users felt like they were spending their money on something they had no authority over. 

Web3 can be a real game-changer as their minimal fees for development, and the end-users are given as tokens or NFTs. Additionally, the token holders also get to make governance decisions on the game's future. 

Do We Need Web3-Based Gaming? 

• Web3 has a huge impact on the gaming industry. One important thing that Web3 does is democratize the different aspects of gaming. It also provides new ways for the players to go up in the game. 
• The players can take the absolute power into their hands for the first time. Instead of concentrating on one single game, players can dabble in multiple games within the ecosystem. 
• While we are constantly looking for something huge and better, it is obvious that we will want a similar experience in all aspects of our lives. The gaming experience in Web2 might be engaging and entertaining. But with Web3 Gaming, you get access to a one-of-a-kind experience. 
• The games have better graphics, storylines, and an engaging and interactive community. 
• Web3 play-to-earn games also serve as a means for economic opportunities for players and creators.

Web3 is going to be the most preferred option in the future. There's no doubt that the transition from Web2 to Web3 gaming will gain more popularity among gamers.

Wrapping Up 

Change is the only thing that has been constant all these years. Blockchain technology has revolutionized the gaming industry in ways a player would have never imagined. However, Web3 is still in its infancy. But we must gain more knowledge about Web3 before we step into it. 

The gaming industry's venture into Web3 has led to many innovations in the gaming space. Gamers are equally geared up for the games they are yet to immerse in and experience.