What to expect from Web3.0 gaming in 2023 | The Financial Express

What to expect from Web3.0 gaming in 2023

2023 is expected to be important for Web3.0, gaming, and Web3.0 gaming

What to expect from Web3.0 gaming in 2023

By Ramkumar Subramaniam

A very strong convergence between Web3 and gaming has already happened in the year 2022. We saw a lot of Web3 games being released, and that too, with every gaming asset as NFTs.

While the success of the collaboration between Web3 and gaming cannot be denied, we also saw flickers of some projects that did not think a lot about gaming but focused more on using the Web3/NFT elements. This is perhaps the lesson that the industry needed on how not to proceed with games… leave alone Web3 or Web 2.0.

In 2023, Web3 games will become more focused on the game rather than the technology element. While buzzwords like blockchain, P2E, and NFTs could be nice garnishing factors for the game, it should be understood that the game, at the end of the day, finds its appeal because of the game itself!

The year 2021 can be considered the innocent childhood of Web3 games, and 2022 was the uncertain adolescence. After learning a lot from both these years, 2023 will look at a very mature approach towards Web3 gaming.

While that has been a lot of encouragement and market-magnetism for developers to create their own Web3 games, we will also be looking at a lot of classic games, especially AAA rated ones jump into the Web3/NFT bandwagon. Anything said, the immutable nature of gaming assets is a lucrative proposition for any game, and we could see the beginning of the blurring of the line of demarcation between classic games and new-age Web3 games.

We are looking at a bright future for the trading of NFT gaming assets in leading marketplaces. Just like how some marketplaces gained their market-momentum because of profile pictures, some marketplaces will find a new elevation of prominence because of the gaming asset market and the potential it holds.

2023 will witness the creation of gaming metaverses rather than just Web3 games. It is the story of the game that will be a bigger selling point than just the action in the game. We can also expect a seamless integration between multiple gaming metaverses and some symbiosis between the games, assets, and revenue generation opportunities.

These virtual universities would also mean that there is a lot of scope for collaboration between brands and games… Much similar to what we see in the real world sporting tournaments. Since brands will have the opportunity to grab the attention of a specific set of people, it is quite possible that advertising in the gaming metaverses would be one of the most sought after promotion platforms.

When we talk about plans and collaborations, we are not just talking about advertising but also a possibility of the brand itself building a gaming arena in the digital space. This would open up opportunities for brands to create their own avatars and mascots, build an inventory of virtual clothing or accessories or vehicles, make people use them, trade them, and flaunt them in the gaming metaverse.

There will also be a spike in the magnitude of government regulations. This is something that is to be expected from governments when any unrelated business grows tremendously it is rich and user base. Contrary to the opinion of some people, regulating an industry will only make it better, legally viable, And above everything, will serve as an investment magnet for people who do not wish to invest in anything that is in the legal grade area.

More than anything, 2023 will witness of mass exodus of people from Asia and Africa into Web3 gaming. For many of them, this could probably be their first step into the gaming world, the excitement, and the opportunities they hold in terms of engagement, social connections, exposure, and earning.

To sum it all up, the year 2023 will be one of the most historically important to use for Web3, for gaming, and for Web3 gaming! There will be a fine balance between disruptions and market maturity. We can see quite some innovation that does not defy the boundaries of purpose and game-focus. This will give a lot of scope for games with a strong story and gameplay to triumph more than games with some lucrative low-hanging fruit but with a very shallow story.

The author is co-founder and CEO, GuardianLink

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First published on: 04-02-2023 at 14:45 IST