What is the future of Web3 gaming?

Popular blockchain games such as Axie Infinity, Sandbox, REVV Racing have seen the full cycle due to the challenges faced in the previous years.
What is the future of Web3 gaming?
What is the future of Web3 gaming?
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With blockchains taking the center stage for future advancements across various industries, the gaming industry is also slowly starting to keenly observe how to build and capitalize using the blockchain technology. We are seeing traditional games venturing into the metaverse with recent news of PUBG creator, Krafton Studios to launch a metaverse game this year.

<source: google>

The South Korea based Krafton studio has set up a Web3 metaverse game platform called Migaloo and have raised funds to the tune of $36.8 million along with augmented reality firm Naver Z. According to a press release in Gamesexpress, both the companies have invested KRW 48 billion to develop the platform, which features a Create-to-Earn (C2E) system that allows content creators to build works in the metaverse that users can purchase and own using NFTs and blockchain technology. In 2022, Krafton signed a partnership with Solana Labs, the company behind the Solana blockchain. The partnership indicates that Krafton plans to create blockchain games incorporating various critical crypto gaming features, such as DeFi economics and digital collectibles.

Other mainstream gaming companies have as well dipped their toes into metaverse, with Japan and South Korea-based Nexon’s development of MapleStory Universe in Web3 in partnership with Polygon and Japan-based Final Fantasy creator Square Enix’s web3 game. On top of this, Singapore-based Razer has launched a Web3 incubator to support funding Web3 games through its venture arm.

<source: google>

Popular blockchain games such as Axie Infinity, Sandbox, REVV Racing have seen the full cycle due to the challenges faced in the previous years. With continued developments on SDK integrations and interoperability, the world of blockchain gaming is rapidly growing and top games blockchains are seeing an uptick in unique address count, according to Dappradar.

<source: dappradar>

NFTs and crypto add a financial incentive element to gaming called play-to-earn, which is very attractive for players. The possibility of simultaneously having fun and earning money is appealing to users. Game developers are coming up with innovative and refined games to garner attention of gamers and we can see many play-to-earn as well as pay-to-earn games in coming years developed with blockchain technology.

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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.

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