Web 3.0 / October 14, 2022 / by Emily Dobutović

Web 3.0 Gaming: Complete Guide for Beginners

Web 3.0 Gaming: Complete Guide for Beginners

Web 3.0 has revolutionized numerous industries, including the gaming industry. Web 3.0 gaming has created a new wave in the industry, opening doors for players to immerse themselves in new player-built worlds with utmost safety and security.

One of the most important aspects that attracted huge masses of players was its revolutionary earning system. In short, it enables users to earn cryptocurrency by simply playing a Web 3.0 game. Still, there are numerous challenges Web 3.0 gaming needs to overcome to achieve mass adoption.

In today’s article, we’ll go through the entire Web 3.0 gaming industry, key features of Web 3.0 gaming, and the most important statistics. Let’s start!

What is Web 3.0 gaming?

Along with the evolution from Web 2.0 to Web 3.0, the gaming industry changed accordingly.

We can define Web 3.0 gaming as a process of decentralized gaming where the activities of a gaming platform are delegated away from any central authority, paving the way for complete decentralization. This strongly refers to ownership of in-game assets and decision-making in all Web 3.0 games.

In the image below, you can see exactly how Web 3.0 gaming functions: its mechanism.

Learn how Web 3.0 gaming works and why is it different than traditional gaming

Web 3.0 gaming gave power back to the users. By integrating blockchain into the gaming ecosystem, gamers can now participate in the game’s evolution decision-making process. Who knows better what gamers want than – gamers?

Besides, Web 3.0 gaming took large steps in the play-to-earn system, enabling users to trade their in-game assets, exchange tokens, and even earn cryptocurrency by simply playing the game.

Numerous gamers started crafting money-making strategies to replace their job income by playing games, which worked for many of them. This proved that Web 3.0 gaming is on its way to becoming larger than ever imagined.

All in-game assets are NFTs, which Web 3.0 gamers can trade on platforms like OpenSea and earn a reasonable amount of ETH for a simple in-game item. Every in-game asset is in full ownership of the player, meaning that there is no way for someone other than the owner to discard, trade, or delete it.

Another huge plus of Web 3.0 gaming is its wide interoperability across numerous gaming ecosystems. What does this mean? In short, when using a certain in-game item in one Web 3.0 game, you can use that same item in another Web 3.0 game – under the premise that both games are on the same blockchain.

Still, there are cases where you could use in-game assets stored on another blockchain. Polkadot and Solana offer the interoperability feature in cross-chain communication bridges.

In short, Web 3.0 gaming is something we can openly call an innovation.

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What are the key features of Web 3.0 gaming?

Web 3.0 gaming is distinctively different from gaming the world is used to. Self-sovereignty, decentralization, and total ownership were unimaginable concepts in gaming until recently.

Here are the key features of Web 3.0 gaming that revolutionize the entire industry.

#1 Ownership and interoperability

The Web 3.0 gaming landscape has been growing rapidly, with new blockchain-based games offering players true ownership of their in-game assets. However, some Web 3.0 games are siloed off from each other, meaning players can only use their digital assets within a single game platform.

Interoperability in Web 3.0 gaming allows for an entirely new level of connectivity and player freedom. By allowing Web 3.0 games to communicate with one another, players can trade and use their in-game assets across different gaming platforms. This offers more options and flexibility for players and opens up a range of new possibilities for Web 3.0 game developers.

As the Web 3.0 gaming industry continues to expand and evolve, interoperability will become increasingly important for unlocking the true potential of blockchain technology in gaming.

#2 Old game integration

The Web 3.0 gaming market rapidly expands, offering new game development and integration opportunities. We’re starting to see an interesting trend of incorporating old games into Web 3.0 environments. By leveraging blockchain technology, developers can revive nostalgic titles and incorporate them into Web 3.0 gaming experiences.

This allows players to enjoy their favorite classic games in a new setting and adds an extra layer of interactivity through the use of tokens and smart contracts. With the growing popularity of Web 3.0 gaming, we can expect to see more old game integration in the future.

It’s an exciting way for gamers and developers to participate in this burgeoning industry.

#3 Web 3.0 gaming is player-driven

The rise of Web 3.0 technology has brought about a new era in gaming: player-driven gaming. In Web 3.0 games, players have control over game assets and can trade them for real value. This allows for greater autonomy and ownership within the gaming experience, as players can make their own decisions and reap the benefits of their actions.

Also, Web 3.0 gamers can now experience even more benefits thanks to blockchain technology. Firstly, the play-to-earn aspect has become widely popular. And secondly, old game integration has enabled players to relive their childhood memories on the blockchain – possibly even in the metaverse.

Additionally, Web 3.0 games encourage collaboration and community building through player-to-player trades and interactions. As Web 3.0 technology continues to advance, we can expect to see even more player-driven gaming opportunities emerge.

With player empowerment at the forefront, Web 3.0 games offer a unique and exciting gaming experience.

#4 Web 3.0 gaming is transparent

In Web 3.0 gaming, transparency is vital for player trust. Being able to see the game’s code and how it operates allows players to verify that the game is fair and running as intended. It also helps to ensure that the game’s economy functions properly, with players able to trust that their in-game assets have real value.

Providing this level of transparency can also benefit game developers, as it helps attract skilled players and boost player retention. In short, Web 3.0 gaming benefits from a high level of transparency in gameplay and economies. This builds trust among players and can positively impact a game’s success.

What is a Gaming DAO and what are the types of Gaming DAOs

Using decentralized autonomous organizations, or DAOs, in Web 3.0 gaming opens up exciting opportunities for communities to govern themselves and actively shape the game worlds they inhabit.

A DAO is essentially a digital organization where decisions are made according to pre-programmed rules and governed by token holders. In Web 3.0 gaming, a DAO could be used to vote on game mechanics changes or choose which new features and content should be developed.

It also provides a transparent and fair means of distributing game profits among stakeholders. Web 3.0 gaming has already successfully implemented DAOs, with games like Axie Infinity implementing a player-governed treasury system.

As Web 3.0 technology continues to evolve, we can expect to see even more innovative uses of DAOs in the gaming realm.

In essence, there are 3 types of gaming DAOs. Learn more about them below.

#1 Gaming guilds

The rise of Web 3.0 technology has given rise to a new type of gaming organization: gaming guilds.

A gaming guild operates similarly to a DAO or decentralized autonomous organization. It is run by members through voting and decision-making on the blockchain. This allows for transparency and decentralization in the management of the gaming guild.

In addition, Web 3.0 technology allows for secure, tokenized payments within the gaming guild. So not only can gaming guild members participate in group activities and events, but they can also earn rewards through their contributions to the guild.

In short, gaming guilds are financialized – they function similarly to an investment club. All the participants, gamers in our case, share the funds that the gaming guild has accumulated so they can purchase in-game assets.

As Web 3.0 continues to advance and provide new opportunities for gamers, gaming guilds will likely become an integral part of the gaming community.

#2 Incubators and accelerators

Incubators and accelerators are a type of decentralized autonomous organization (DAO) in Web 3.0 gaming. These DAOs support new projects, typically through networking, funding, mentorship, and resources.

By joining forces with other Web 3.0 gamers, incubators and accelerators can greatly increase their capacity to launch successful gaming projects. Additionally, they often focus on community growth and will strive to nurture an inclusive and engaged gaming community.

Overall, incubators and accelerators serve as valuable resources for Web 3.0 gaming enthusiasts looking to make their mark on this rapidly evolving industry.

The first incubator and accelerator DAO in Web 3.0 gaming was launched by the team behind Axie Infinity. The Axie Infinity Community Treasury (AICT) is a well-organized, player-run organization that supports new Axie-related projects.

AICT has helped fund the development of numerous tools and resources for the Axie Infinity community, including a marketplace, wallet, and explorer. As the Web 3.0 gaming industry continues to grow, other incubator and accelerator DAOs will likely emerge to support this rapidly evolving ecosystem.

#3 Developers

Developer Gaming DAO, a type of gaming DAO, allows game developers to interact directly with players and receive funding through the use of smart contracts and community-governed tokens.

By removing intermediaries and providing transparent ownership, the developer gaming DAO offers a unique model for both developers and gamers. It allows for direct engagement with players, giving developers more control over their projects while giving players more involvement in the games they love.

The possibilities for this futuristic model are endless, from gameplay rewards to crowdfunding initiatives. The developer gaming DAO is just one example of how Web 3.0 technology can revolutionize the gaming industry.

The gaming industry is on the cusp of a major upheaval. The rise of decentralization and Web 3.0 technology is opening up new opportunities for gamers and developers alike. From gaming guilds to developer gaming DAOs, this new era of gaming promises to be more transparent, inclusive, and engaging than ever before.

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What are the types of Web 3.0 games?

There are many ways to play in this new economy, whether a beginner or an expert. One major type of Web 3.0 game is called “play-to earn” where players invest money and time into gaining more assets, so they can keep playing without having any financial risk themselves, while other types involve walking around with your character on an adventure, trying not only survive but thrive as well!

So, there are 2 major types of Web 3.0 games. Let’s deepen your knowledge of both of them!

#1 Play-to-earn Web 3.0 games

Just from this subheading, you can recognize that the key concept of these games is to play and earn while doing so. Your rewards could be in the form of NFTs and cryptocurrencies, which you can usually trade for fiat money or exchange for some other cryptocurrency.

This type of Web 3.0 games functions simply – the more you play, the more assets you will obtain. Usually, you need to complete certain tasks and compete in various in-game challenges to earn these assets.

In some games, the amount of time you spend playing will also be taken into account when it comes to distributing rewards.

The central part of play-to-earn games is decentralized, meaning that there’s no total control from the side. And players who participate in this economy create value for themselves and developers alike by generating real cash prizes through their participation with every win they get while also helping shape what new features will be available on future versions!

#2 Walk-to-earn Web 3.0 games

The second major type of Web 3.0 game is walk-to-earn games. Their concept is straightforward – the more you walk, the more digital assets you acquire.

Such Web 3.0 games are profoundly different from other types of games, even traditional games, as they reward the player for a physical activity – which gamers may not be prone to.

The two companies that stand out from the crowd are Walken and STEPN.

The world’s first lifestyle application that rewards players for working out, STEPN is designed to reward those who put their health on track, and in return, they will receive GST tokens. These can be used to purchase items from within the app or traded off various exchange services like Binance Coin (BABY).

Walken is a Web 3.0-based walking application that ties three essential things: sports activity, online gaming, and crypto. To simplify, it’s about rewarding users for their physical exertions with WLKN (an in-app token), which can be sold on exchange services later, compared to STEPN, which only gave out prizes during competitions against other players but not as part of gameplay where you need level up your character by participating!

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Most important Web 3.0 gaming statistics

The gaming company, Coda Labs, conducted research in 2022, intending to research the Web 3.0 gaming market. They used WALR, a leading data creation platform, as a centerpiece to their research methodology.

To qualify for the survey, respondents needed to meet one of their two selection criteria:

They play a video game at least twice per month
They completed at least one specific crypto action in the last 30 days

The results are:

  • 52% of gamers don’t know any Web 3.0 gaming terms
  • 28% of gamers have heard about play-to-earn games
  • 16% of gamers qualify themselves as crypto gamers
  • 12% of gamers have tried playing Web 3.0 games
  • 41% of gamers aren’t sure how Web 3.0 games work
  • 41% of gamers are concerned about scams in Web 3.0 gaming
  • 32% of gamers are worried about the financial costs of playing Web 3.0 games
  • 37% of gamers who are playing Web 3.0 games do so only because they can earn money
  • 45% of non-crypto gamers and 60% of crypto gamers play only because they can earn money

This shows us that Web 3.0 gaming is still in its infancy, and much more must be done before Web 3.0 games get adopted by the global masses adopt it. Even so, the financial benefit of playing Web 3.0 games is starting to get recognized, which is most likely one of the greatest benefits of Web 3.0 gaming.

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Create your Web 3.0 game with Lumen Spei

You already have an idea for a Web 3.0 game in mind that would conquer the gaming world? We fully support your ambitions, and we offer you a helping hand. Our Web 3.0 experts have experience in building next-gen experiences for various audiences, and we would like to help you on your journey toward success in Web 3.0.

Whatever kind of idea you have – you can count on the Lumen Spei team to help you materialize your thoughts and turn them into a beautifully-designed Web 3.0 game!

Reach out to us and let’s build a great game together!

Emily Dobutović

1 Comment

  • Mark / October 29, 2022

    Very good article! Thanks 🙂

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