Back in school, the world of gaming revolved around entertainment and pleasure. It was an escape refuge for everyone to immerse themselves in a different world digitally with floppy disk games like Mario and Contra occupying a lion’s share of the time of entertainment. Over the last 20 years, the popularity of mobile gaming has risen, with many people widely playing games such as Candy Crush and Subway Surfer.
Is this the end? No! This is just the beginning because reports have suggested that by 2030, the gaming market would have grown by 13.55% and Web 3 technology will have a key role to play in this evolution.
How is Web 3 Changing the Face of Gaming and eSports?
Transitioning the Assets and Characters
If we were playing a traditional counter-strike game and we loved a weapon in it. An M16 or SPG, but there is no way we can transfer that weapon to a different gaming environment like Project IGI or others. However, the rise of blockchain technology has made different gaming ecosystems highly communicative. You can smuggle your favourite asset into a new game environment and completely rescript its gameplay by introducing new weapons and features.
Motivating Professional Players
In the present context, the eSports tournaments are organised by the gaming companies which are tapping the fanbase. Going by the record, the gaming companies raise 51% to 58% fan sentiments which were originally created by the professional gamers. However, the positive outcome is inherited by the gaming company. Web 3 tech enables direct interaction between professional gamers and fans through a decentralised platform. In this way, they will not only challenge the gaming companies but also make fans an inclusive part of gaming, because fans are the segment that makes a game, a game. If they are included in the economic equation, it will open new doors for the growth and expansion of the gaming segment.
NFTs for Remuneration
It is also possible to include the remuneration part in gaming through the introduction of NFTs. The NFTs will represent specific abilities and features. For example, if someone is spending 10 HRs in a gaming environment, they will have a different redeemable NFT. These NFTs will be redeemable in cash. So, if someone is spending more time in a game play, they can earn in the process as well. In this way, not only is it making a sustainable gaming ecosystem for the company but also for the gamers because they can utilise the same money that they have made from the game environment buying in-game assets and redeeming the same for cash in a different gaming environment. Thus, making all the gaming ecosystem complementary and supporting each other’s growth.
Immersive Experience Through Metaverse
So far, we have only seen a 2D interface of the gaming console while playing games like Candy Crush, Subway Surfer, Counterstrike and Call of Duty. However, that narrative is about to change when the metaverse is brought in the picture through AR/VR technology. Now, gamers can assemble in a digital realm like for real through their AR/VR tech and engage in gaming. These intermingling of the technological crossroads through blockchain technology can take possibilities to the next level.
Conclusion
We are only scratching the surface when innovating gaming and esports through blockchain technology. As time passes, new and broader concepts will emerge and evolve from game guilds to game scholarships, which Axie Infinity spearheaded during the 2020-21 bull cycle. It will be interesting to see how we see the evolution of gaming now and beyond through Web 3 technology.
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