Web3 and crypto gaming are gaining more and more popularity. However, traditional gaming is facing many challenges. And crypto gaming, along with blockchain, is looking to solve all of that.
If you are thinking of building a career in crypto gaming, there are some essential things to consider. Here is all you need to know about crypto gaming and web3 for 2023 and beyond.
Gaming in the Web3 Era
Just as web3 and blockchain are looking to change the internet as we know it, gaming will also not be the same. Especially game marketplaces and in-game assets.
We are already seeing the rise of NFTs and other digital assets being sold. Now, thanks to crypto gaming, players can own these assets in the game. And developers can make real-life economies in their games.
So, what is crypto gaming? In simple terms, web3 games are games that are built on blockchain technology. Players can own digital assets in the game through NFTs, which is short for Non-fungible Tokens.
You can think of NFTs as digital assets. Individuals can own them digitally, just like any asset. Moreover, these NFTs can be used to trade in the marketplace or be converted to traditional fiat currencies.
The gaming industry today is a massive multi-billion-dollar industry. Technology moves fast. You need to be at the cutting edge to benefit from the opportunity.
What Challenges Can Web3 Gaming Solve?
As far as it has come, traditional gaming still has many challenges. And with web3 and crypto gaming, many of those problems can be solved. Here are the common issues that web3 gaming could solve.
True Ownership of Assets in the Game
When you buy skins or, frankly, any kind of assets in a game today, you do not truly own it. With NFTs, you could truly own these assets. Meaning your name would be tied to that asset, and others can see who owns it.
Transferability of Game Assets
Assets and skins in crypto gaming will not be tied to a single platform or game. For example, in web3 and blockchain, you will have these assets as NFTs; you could transfer these assets to different platforms.
Control Over Your Data
Servers are the backbone. And the owners (mostly the game developers) have control of your data. So they could use it for marketing and more.
In addition, centralized servers could lead to security vulnerabilities. You effectively eliminate such concerns in a distributed system with web3 and crypto gaming.
Servers are sometimes the bottlenecks for games. If you are on a bad server, you might suffer bad ping. I am sure you know how frustrating high ping can be.
Due to the decentralized nature of web3 gaming, you are no longer bound to any particular server.
That is why whether you are a game developer, streamer, or competitive player, crypto web3 gaming is where you should be.
Things to Consider When Building a Career in Web3 Gaming
It is no question that web3 and crypto gaming is where the future is headed. Many tech giants are also heavily investing in the metaverse. If you are considering building a career in web3 and crypto gaming, here are some things to consider.
Is Your Product Unique Enough?
We have seen this time and time again. Of course, companies jump on the bandwagon whenever there is a hot new thing, but you need to be more methodical here.
Think of what product you will offer to the gaming world. It should be an experience first and foremost. And that means your product needs to be unique.
Do You Have the Necessary Skills and the Right Team?
Building the right team with the right skills will be crucial for success. First, you must build a team well-versed in game development and computer graphics.
But you will also need people who know web3 technologies and its technology stack—like blockchain, digital wallets, and smart contracts.
What is Your Revenue Model?
A business without a revenue model is just a hobby. To succeed in crypto and web3 gaming, you need to consider how you will earn money. Fortunately, there are tons of ways you could earn money in crypto gaming:
- Flipping NFTs
- Crypto games
- Content creation
- Selling in-game digital land
- In-game currencies
Does Your Marketplace Provide a Good Experience?
Marketplaces are the bread and butter of crypto gaming. Therefore, your marketplace needs to be on point.
It is the place where all the commerce happens. Here is the thing, though, if your game feels like a simple cash grab, people will shy away from it.
However, if you can manage to provide a unique and fun experience, along with a seamless marketplace, and build a community around it, not only will you have players engaging with your game, but you will also be able to make money too.
What Game Engine Will You Use?
Games are built on game engines. So, of course, each game engine will have pros and cons. But you will need to decide which engine works for you.
Popular engines like metaENGINE make it easy. But then again, it all depends on your game and what the engine does for you.
How Will You Market Your Game?
Marketing is very important. Creating hype and a community around your game will be paramount.
Even if you are not thinking of developing a game yourself and want to be more of a crypto gaming content creator, you still need to be able to market yourself properly.
Is making a web3 game expensive?
The cost depends on many things and could be between $60,000 and 80,000 for simple ones. Design, writing, labor, and technology are some common factors that go into the final costs.
What are some popular web3 games out now?
There are many popular web3-based games out now. Popular titles include Sorare, Fight Out, Scar Speed, Axie Infinity, The Sandbox, DeFi Land, and more.
What is the primary technology for web3?
Web3 is based on blockchain technology. It is the building block of everything in web3.
Blockchain and crypto gaming are the natural moves forward for gaming. It promises to solve many of today’s problems and give you a more immersive experience.