Web 3.0 And The Future of Gaming Industry

Future of Gaming in Web 3.0

Web 3.0 has revolutionized gaming by introducing new capabilities based on blockchains, cryptocurrencies, and non-fungible tokens (NFTs). A sense of revolutionary can be seen in the fact that it gives players more chances to win.

Prior to diving deeper into Web 3.0, let’s define what it is.

Web 3.0

Web 3.0 refers to the latest version of the Internet – an open and decentralized system designed to benefit users more in the future. As of now, it is a work-in-progress.

Web 3.0, or the Next Generation Web, represents the next step in the evolution of the World Wide Web. A data-driven Semantic Web, powered by machine learning, is designed to create a more connected and intelligent web experience.

Today’s Web is not dynamic as users can’t customize it to their needs. With Web 3.0, you can expect a more interactive and dynamic experience compared to Web 2.0. You can also expect a video game-like future for work very soon when Web 3.0 hits the market. 

With the implementation of artificial intelligence and blockchain technology, it aims to redefine the online experience with structural changes aimed at democratizing all aspects of the internet. 

It also eliminates the need for centralized servers by storing data securely and distributing it across many devices. Because data is no longer stored centrally, it is also less vulnerable to compromise if it is designed this way. Now that we know a little bit about web 3.0, let’s explore some of its core features to find out what its role in gaming will be.

Web 3.0 Core Features And Technologies Behind it

A number of technologies are at the core of Web 3.0, including machine learning, artificial intelligence, and blockchain.

This allows humans to communicate in real-time. Data can be sold or traded without any loss of ownership, privacy breach, or the need for intermediaries, as it remains the property of the data owner. 

With this business model, online identities cannot be tracked when visitors log into websites.

Digitization of assets via tokenization is the key to Web 3.0 innovation. 

Assets and rights are tokenized onto a blockchain network through digital representations, known as tokens. With the help of cryptocurrencies and fungible tokens, a new business model is emerging that democratizes finance and commerce. 

Compared with Web 1.0, Web 2.0 is relatively easy to distinguish. The former involves passively consulting web pages without contributing content. Sites allow users to contribute content and interact with one another through social media platforms, forums, and more. 

Some of the features of Web 3.0 are listed below:

Semantic Web:

In the future, the Web will evolve into a semantic web. Instead of keyword or number searches, semantic web technologies facilitate the creation, distribution, and collaboration of content through semantic interpretation.

3D Graphics:

Web 3.0 focuses heavily on three-dimensional design. The use of this type of technology can also be found in museum guides, computer games, e-commerce, and geospatial contexts, to name a few.

Connectivity:

Web 3.0 connects information through semantic metadata. This enhances the user experience by making use of all available information.

Blockchain:

Blockchain technology facilitates data encryption and protection. Consequently, large corporations cannot control and/or use users’ personal data for their benefit.

Artificial Intelligence:

The combination of semantic capabilities and natural language processing will allow computers to deliver results more quickly and accurately. This results in them becoming smarter and more capable of meeting user needs.

Ubiquity:

A wide range of devices can be used to access Internet content and services instead of just computers and smartphones. As IoT devices become more prevalent, Web 2.0 will become even more ubiquitous.

Decentralized:

A peer-to-peer interconnection facilitates data storage on a decentralized network. On top of that, users can log in securely without being tracked and maintain ownership over their data and digital assets.

Edge Computing:

Edge computing enables Web 3.0 to process apps and data on mobile phones, laptops, appliances, sensors, or even smart cars by utilizing the network edge.

What changes can Web 3.0 bring to the gaming industry?

With the advancement of technology both in terms of development and implementation, gaming has advanced significantly. A decade ago, video games were created very differently from what they are today. Technology revolutions in the gaming industry include transitioning from 2D to 3D, utilizing virtual and augmented reality, creating metaphor-based games, incorporating digital currencies, NFT, web 3.0 gaming, and so on.

The web 3.0 trend has become the latest business trend in recent years. The future of web 3.0 is currently subjected to a lot of speculation, however, developers have already started to develop innovative gaming plans utilizing this new web technology.

It uses concepts such as metaverse, virtual lands, digitized tokens, AR and VR as well as NFT development.

Decentraland is leading the way towards this change. Decentraland is a virtual world built on the Ethereum blockchain. Using it, users can create content, experience it, and monetize it.

Not only this, Decentraland makes it possible to even purchase land parcels backed by Ethereum. From 3D visuals to multiplayer games, these parcels can be put to use for almost anything. 

Furthermore, Decentraland features its own currency named “MANA”, which can be used to purchase land or items in-game. Besides this one, there are several other popular Web3 games offering maximum earning potential. 

Relationship between Web 3.0 and the gaming industry

Based on the web3 game development technologies mentioned above, developers can now design innovative and futuristic games. Now that the Internet has evolved into a completely new version, it is easier than ever before to integrate disruptive technologies into the gaming industry.

An understanding of how these two entities communicate is essential to understanding the connection between the gaming industry and web 3.0.

Let’s look at some of the other benefits you can expect from the integration of web 3.0 with gaming.

1. Ownership

By implementing NFTs or non-fungible tokens, Web 3.0 will enable developers to establish sole ownership. As a result of this, whatever purchases are made by the user will belong exclusively to him, and even if we leave, the user won’t have to sell the items or lose them automatically. Virtual lands are a great way to implement ownership in web 3.0. As the Internet will encompass the metaverse and gamers will have access to mining, crafting, and other related activities related to their games, they can use virtual lands.

2. Virtual avatars

The introduction of virtual avatars can also revolutionize the gaming industry with web 3.0. The users will have sole control over everything in the metaverse through these 3D avatars. During a fight within the game, the avatar will be the one attacking or defending in the virtual world. Players can explore different game levels and uncover many secrets or treasures by using the avatar.

3. User-centric

User-centricity will be a major factor in the gaming industry with the arrival of web 3.0. The game will be designed according to how the customers want it. Gamers can make enough purchases using digital currencies through web 3.0, for instance, by incorporating blockchain or smart contracts into the game. As a result, gamers will be able to communicate better and interact more effectively.

Underlying Technologies/Utilities in Play

NFTs

In the same way as any other digital currency, NFT enables scarcity and ownership of digital assets. A wallet can store NFTs and transfer them between wallets. Blockchain-based games will convert in-game assets into NFTs, making asset ownership possible. You can categorize assets in the same way as you would in a role-playing game or role-playing RPG. The rarity of Web 3.0 can be defined by NFTs. Players will be able to collect and sell the rarest NFTs.

Tokens

All of the game’s economics will be based on tokens. Each part of the gaming ecosystem – from the developers to the players – will be rewarded through these tokens, whether they are involved in making the game, supporting it, or playing it. By increasing the value of the token, everyone benefits. The game would then grow as a result. During the game, players will earn tokens and can exchange them for real money through trading exchanges, reaping the rewards of their hard work.

Blockchain

Blockchains are typically open, permissionless, and immutable. It can be interacted with and built over by anyone. There are building blocks just like in Legos and one can add a block on top of another. A game with openness and permission-less is also more likely to be interoperable than one without.

Best Games in Web 3.0

1. The Sandbox

With Animoca Brands’ purchase of the game in 2018, it pivots to the blockchain after years of being an iOS, Android, and Windows game. The game’s all about the creativity of its users, while the content they generate contributes to its ongoing growth.

It uses NFTs to reward users for building and maintaining the game’s ecosystem rather than developers. It takes inspiration from games such as Minecraft and Roblox but seeks to put control in their hands rather than developers.

2. The Six Dragons

In the world of blockchain games, Enjin’s platform has quickly become a hub for developers. It aims to support the creation of advanced virtual economies through the use of blockchain technology.

With its platform, developers can build blockchain games, mint tokens to power them, and connect them to wallets, exchanges, and the marketplace. The native Engin Coin (ENJ) token also serves as a payment method between partners.

3. Axie Infinity

In a recent Telegraph article, it was stated that blockchain games are more like crypto investing than mainstream games such as Call of Duty. This is particularly true of Axie Infinity, an arcade game that is inspired by Pokemon. The game’s PvP modes allow players to battle other players in real time and the game’s AI in guided PvE modes. Players need at least three Axies to get started, with the cheapest starting from 0.042 ETH.

You will need a pretty sizeable initial investment, but time and effort put into the game will yield rewards, as you will get Small Love Potions which you can use to breed more Axies, which you can then sell.   Axies with a higher breed count are more expensive.

4. Sorare Fantasy Football

In my youth, I spent far too much time collecting football cards, and many people spend a lot of time playing fantasy football games as adults. Sorare has combined the two for the blockchain generation, and some of their collectible digital cards can be purchased on their website.

5. MegaCryptoPolis3D

A blockchain-based MMO called MegaCryptoPolis3D is the blockchain version of SimCity back in the day. It is an Ethereum-based app that lets you buy, develop, and monetize a plot of land.

6. Neon District

Often, blockchain games have a sci-fi dystopia theme, and Neon District fits this genre well. In this cyberpunk RPG, players battle enemies in Unity City, a place filled with crime syndicates, oracles, cogs, genetics, modifications, winding plots, and much more.

In Unity City, players are able to pick up new skills and unique pieces of equipment, represented by tiny NFTs. These can be then traded through the marketplace, where ETH is again the main currency, while others are being traded on third-party sites such as Rarible.

7. Age of Rust

The single-player first-person game Age of Rust casts you as Quinn 7, a 22^nd-century hacker who sequenced and stored away for the future. It is a little early to recommend an unreleased title, but it looks phenomenal. In this sequel, you must explore abandoned space stations and remnants of once-great civilizations on distant planets while avoiding rogue artificial bits of intelligence.

8. 9Lives Arena

1on1 fantasy PvP Lives Arena is another Enjin title that is still being tested ahead of its release in the near future. The game features different warrior classes fighting each other in a competitive arena focused on preparation practice, and permadeath.

The last point raises the stakes considerably: when a warrior loses a battle, they lose one life. As soon as they lose their ninth battle, their stats are preserved on a statue. While you must train and nurture them, they lose both life and stats.

9. Decentraland

The blockchain sector is dominated by virtual worlds, and Decentraland is one of the most popular platforms. Built on Ethereum, it operates similarly to its major competitor, allowing users to purchase land to develop and monetize.

A limited number of LAND parcels are part of the Metaverse, each of which is represented by its own ERC-721 NFT. The in-game currency is the MANA token, which is an ERC-20 token.

10. Infinite Fleet

Lastly, Infinite Fleet, another space-based MMO slated for release later this year, will let players control a starship for battle against aliens from the Atrox race. You can upgrade your ships and weapons and even missiles and can team up with friends to put up a good fight against them.