Is the differentiator of web3 gaming is choking point of web3 gaming?
The gaming industry is a multi-billion dollar industry and the web3 gaming industry despite its presence for years in this space is not able to mark any strong presence in this field. Despite gaining initial popularity, the web3 games market gained some popularity a couple of years back but afterward, it looked like they lost momentum and struggled to keep their users hooked to them.
What makes web3 game unique.
The main differentiator of web3 gaming is the ownership of the assets and as well as the game mechanics that will help the player to earn money for playing the game, Since the player owns the assets in the game and they are free to sell their assets or purchase the assets from another player using the marketplace which is actually a transparent and in trustless fashion (all thanks to the blockchain.)
How it affects the game economy.
In traditional gaming, assets are owned by the gaming company and players do not own any game assets and TOS of most of the gaming companies forbid the sale of their assets and the game accounts to other players. So any new player acquired boost or increase the revenue of the gaming company.
Also, I find that in some of the game, game inflation is too high and the game keep introducing new item and old item also become useless for game progress which also brings revenue and profit for the game.
Since web3 gaming and blockchain games have Play2Earn concepts, there are bot farms that also try to extract profit from the game that badly affects the game's health and game tokenomics.
In the blockchain and web3 game, a new player has the option to buy from the secondary market, so the new player may or may not be generating revenue or profit for the game. Blockchain games are also largely governed by the community and player base so game developers cannot make the old assets obsolete and in fact, they do reward more to old players.
What can be the solution?
I think first and foremost, the game should take anti-bot measures strictly. Also game should avoid "over rewarding" its old player base.
Also, since blockchain game give asset ownership to players that hampers their revenue for selling new assets so they can add some reasonable fees or royalties to be paid to the game developer, whenever asset ownership changes.
Maybe creating different versions or genre of the game will cause the demand for game assets in the market and every new player added in the game bring revenue either by direct purchase or by royalties in the secondary market.
So what are your views about web3 gaming future in the coming years?
