B+rands of the web2 game market such as Pubg, Ubisoft,… encroach on the web3 market through releasing games on Blockchain.
What’s special about Web3 Gaming?
Web3 Gaming refers to games that use Blockchain technology to bring transparency, security, high democratization, and web3 games that do not depend on a single place (also called servers in web2 games). ) to store player data which is instead stored decentralized on the Blockchain.
Blockchain -gaming
The first game on Blockchain was introduced in 2014 when Huntercoin was introduced as a way to test the adoption of games on Blockchain.
CryptoKitties launched in 2017 was a huge success in demonstrating the potential of Web3 Gaming and at one point accounted for more than 25% of Ethereum network activity. Web3 Gaming is really mentioned by everyone in 2021 with the Play To Earn trend with the leadership of Axie Infinity.
In 2019, Web3 Gaming was only built by a small group of developers and very few projects were able to raise capital at the beginning of construction. At that time, there was only 27M USD from VCs poured into Web3 Gaming projects
In 2012, Web3 Gaming company or Web3 Game Studio was born and called for tens of millions of dollars in capital from VCs such as: Kratos with 20M USD, EVE Online with 40M USD,… The total amount of money invested by VCs into Web3 Gaming projects has amounted to more than 8B USD. This shows the maturity of Web3 Gaming projects and is increasingly receiving attention and attraction by VCs in the market.
Web2 & Web3 Gaming
1, Ubisoft
Ubisoft – the developer behind the famous game projects Assassin’s Creed and Far Cry is actively working in the web3 market. They launched the Assassin’s Creed NFT collection on Polygon and most recently in June 2023, Ubisoft also revealed their first blockchain game titled Champions Tactics – a tactical role-playing game on PC.
The game will be developed on the Oasys blockchain as it is optimized for gaming.
Ubisoft plans to launch free token airdrops to attract players. They are also looking to expand into the metaverse highlighted by the implementation of their Rabbid characters in the Sandbox.
2, TSM
Leading esports team TSM has also partnered with Avalanche to build a competitive Web3 Gaming platform called Blitz.
TSM will use Avalanche’s Subnet technology to bring Blitz to the Blockchain.
3, Krafton
Krafton – the Korea-based game manufacturer behind the popular battle royale shooter Pubg is entering the Web3 Gaming market with the launch of many products and different game titles such as: Launching a platform metaverse platform called Migaloo or the creation of a separate Blockchain called Settlus – a Layer 1 Blockchain built on Cosmos.
Settlus is a Blockchain developed by Krafton towards Gaming and Metaverse.
4, Konami
In 2022, famous Japanese game publisher Konami is coming up with ideas to build and develop a Web3 Gaming and Metaverse system to bring a more interesting experience to users.
Highlights that Web3 Gaming Brings Compared to Traditional Games: Ownership and interactivity, Accessibility, Opportunity to make money,…
Challenges of web2 and web3
1. Blockchain technology is still developing and has limitations in transaction speed and scalability.
2. Transaction costs: Transactions on Blockchain often encounter high and unstable transaction fees, especially when the network is overloaded.
3. User adoption: Blockchain technology and Web3 aspects can be new and confusing for new users. So to truly exploit the potential of Web3 Gaming, user adoption and education are extremely important.
