Disclaimer: The opinions expressed in this article are the author’s own and do not necessarily reflect the views of the editorial team at crypto.news.
The world of Web3 gaming has always been a divisive topic within the blockchain community, standing out as a controversial sector in its own right. Its journey, much like the broader crypto industry, from a period of rapid growth to a subsequent decline between 2021 and 2022 was closely watched. However, as the crypto market continues to expand and decentralized finance (defi) gains momentum, few anticipated that Web3 gaming would evolve beyond a minor niche area.
Traditional gamers were quick to dismiss many of these Web3 games as unentertaining, complex, and a cumbersome way to stake seemingly valueless tokens and NFTs. Despite this, in mid-March, the market cap of Web3 gaming tokens surpassed $30 billion for the first time since the previous bull run when the sector peaked during the COVID-induced “play-to-earn” craze. Within just 24 hours, the GameFi sector’s market cap experienced a six percent increase, outperforming the overall growth of the crypto market and indicating a shift in consumer behavior towards riskier investments.
While mainstream gamers may not be interested in the volatile price movements of tokens like Decentraland’s MANA or Gala Game’s GALA, the integration of AI in Web3 gaming signifies a step towards legitimacy and the potential for expanding its user base. With the traditional gaming market projected to exceed $270 billion by 2024, Web3 games must attract gamers who are skeptical of titles that involve blockchain technology or NFTs in their marketing.
Web3 gaming projects have begun to realize the importance of appealing to traditional gamers and have shifted their focus towards creating enjoyable games that closely resemble mainstream titles. To achieve this goal, Web3 gaming is actively bringing in experienced developers and executives from the traditional gaming industry and utilizing AI to enhance in-game features such as interactions with bots and creating immersive environments.
For example, Aptos Labs, the team behind the layer-1 chain, recently formed a partnership with Google Cloud to support the Aptos GameStack, a unified platform for incorporating blockchain elements into games. By leveraging Google’s cloud infrastructure, Aptos is enhancing the Web3 gaming sector by integrating analytics, AI, and machine learning tools, enabling developers to provide a higher-quality gaming experience.
While the integration of AI-powered features and the collaboration with veterans of the traditional gaming industry indicate maturity in the space post the play-to-earn era, there is still work to be done to attract mainstream players. A report by the Blockchain Gaming Association revealed that 55 percent of survey respondents identified the crypto onboarding process as a major industry challenge, particularly when players are required to set up a wallet to play.
Exverse, a first-person shooter game, is an example of how the industry can appeal to non-crypto gamers. The free-to-play title with high ambitions prioritizes gameplay and captivating narratives while utilizing AI to enhance interactions with non-player characters. Recently, Exverse garnered nearly 100,000 signups ahead of its alpha launch, providing an easy entry point for gamers of all types through registration via email, Discord, Telegram, or MetaMask.
By highlighting the advantages of Web3 gaming, such as asset ownership, and harnessing AI to enhance game quality and streamline the onboarding process, Web3 gaming has the potential to reach a broader audience among the world’s 3 billion gamers.