People play games for various reasons, but playing games requires time. Web3 gaming is a form of decentralised gaming that gives the players the leverage to own assets in the game, which can then be sold, traded, or otherwise monetised. These assets owned are secured by the blockchain used by the game to ensure that transactions are performed smoothly.
Therefore a person who intends to play games venture into web3 gaming should have a fair knowledge of How Web3 wallets and how to perform transactions. Our blog has a content article called ‘Which Web3 Wallet is the Best? A Beginner’s Guide’ In Web3 gaming instead of using usernames and passwords, you use a crypto wallet to connect to the game. Your wallet address becomes your false identity within the game. Web3 enables ownership. Hence gaming in web3 allows you to use assets you purchased in the game or trade them.
Web3 gaming also brings the ability to play to earn. Many play-to-earn games allow you to earn specified tokens the game provides, that you can use for upgrades in some cases, and sell for real-world currencies.
Different Types of Web3 Games
Web3 gaming started as NFT-based games, but we will likely see the types of games continue to evolve. Many web3 gaming platforms combine two or more of the categories discussed below.
Play-to-Earn Games
This form of web3 games allows gamers to earn live value assets by playing. Gamers are rewarded with cryptocurrencies or NFTs that can be traded or sold for profit. Players can sell their tokens or swap it for other cryptocurrencies on decentralized exchanges. Combining Defi and gaming, these games are a subcategory of Web3 Games called GameFi (Game Finance).
Examples of Play-to-Earn Games
- PlayDoge
- The Sandbox
- Gods Unchained
NFT-Based Collectible Games
This form of web3 gaming centers around collecting, trading, and sometimes battling unique digital assets known as Non-Fungible Tokens (NFTs). Each NFT is a unique item that players can own, sell, or trade.
Examples of NFT-Based Collectible Games
- Axie Infinity: Axie Infinity was one of the first NFT-based games and remains popular to this day. Players can catch and breed Axies, which are represented by unique tokens on the blockchain.
- CryptoKitties
- Sorare
Sport/Racing Games
These forms of web3 games bring various sports and racing experiences into the Web3 space. It allows the players to own and trade digital representations of athletes, teams, cars, and other assets.
Examples of Sports and Racing Games
- SpongeV2
- Zed Run
- Fight Night
Metaverse Games
Metaverse games are expansive, user-created digital landscapes where players can explore, socialize, and engage in various activities. These worlds often incorporate NFTs and cryptocurrency for transactions. These open games often leverage decentralized voting to govern the platform. The community owns the voting rights and may even own the platform itself.
Examples of Decentralized Virtual Worlds
- Decentraland
- Voxels
- The Sandbox
Conclusion
Web3 gaming gives the gamer a lot more benefits in comparison to traditional games, including decentralization, ownership of in-game assets privacy-focused features, equal access, and privacy-focused features. It is important gamers understands how wallets work and how to convert in-game assets into spendable real-world assets
The potential for web3 gaming could be bright, offering in-game economies and assets that can be sold to raise revenue in the offline world or used elsewhere in DeFi applications. Already, web3 gaming offers financial opportunities in both the developed world and developing countries. Web3’s unique approach to in-game asset ownership could continue to attract interest in the space and create more opportunities for wealth building.
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