Despite the market downturn, Web3 gaming has been attracting significant interest and investment in the blockchain technology space. According to a report by DappRadar, a total of $297 million has been invested, with the majority of funds being directed towards gaming infrastructure.
In July, blockchain gaming accounted for approximately 41% of all on-chain decentralized app (dapp) activity, as noted by DappRadar. This highlights the growing popularity and potential of gaming in the blockchain industry.
Vance Spencer, co-founder of Framework Ventures, emphasized the significance of gaming in the Asian market. He noted that while the US may focus more on NFTs, culture, and decentralized finance (DeFi), Asia is the real gaming end market. This suggests that Asia holds great potential for the growth and adoption of blockchain gaming.
One of the unique aspects of gaming is that there are no strict rules or limitations on creating fun crypto games. Co-founder Michael Anderson believes that with a few more iterations, crypto games will see mass adoption. He poses the question of which game players would choose: one with the same experience but without ownership, or one that offers ownership through blockchain technology.
Scott Sunarto, founder and CEO of Argus Labs, discussed the challenge facing the gaming industry in utilizing crypto levers to make gaming more exciting. He noted that many game studios are simply adding NFTs to their Web2 games. To truly enhance the gaming experience, Sunarto believes that finding innovative ways to use crypto levers in Web3 gaming is crucial.
Sunarto also mentioned the likelihood of gaming providers wanting to have control over distribution, leading them to move to their own custom chains. This would allow for greater control over aspects such as gas subsidies and customizations on the chain level, ultimately improving user experience and providing unique features.
In conclusion, Web3 gaming has been able to maintain investor interest and attract substantial investment despite the broader market downturn. The potential for growth and adoption in the Asian market, combined with the ongoing development of innovative gaming experiences through the use of crypto levers, positions Web3 gaming as an exciting area in the blockchain technology space.
