Emily Clarke

What is Web3 Gaming?

Web3 is the next generation of the World Wide Web that aims to transform how we connect. The concept takes ownership away from big tech companies and gives it to users. We're already seeing Web3 change industries like finance and healthcare. But one of the more unique shifts this technology brings is in the gaming sphere.

Web3 gaming gives power back to players. It decentralizes gaming, allowing players to gain ownership of in-game assets and overall decision-making. Instead of relying solely on developers and publishers, Web3 gaming can participate in every aspect of a title's evolution. All the while, they can trade NFT for Web3 gaming, integrating real-world value with in-game assets.

How Web3 Gaming is Different

The sky's the limit for decentralized gaming, but some of its most exciting possibilities are as follows.

Robust In-Game Economies

Many traditional games have in-game economies complete with rare items. But with Web3 gaming, concepts of ownership and scarcity are more tangible than ever. With NFT for Web3 gaming, players can have real ownership over rare items. NFT data can verify ownership, facilitate trading and prove actual scarcity.

It turns meaningless currencies into real ones, allowing players to buy and trade items by performing secure transactions. That's not all. Many Web3 games also have opportunities to earn assets with real value. Playing can enable gamers to make tradable cryptocurrencies that hold real value with in-game purchases or fiat currencies.

Guilds

Another unique aspect of Web3 gaming is the rise of gaming guilds. Because the entire concept of decentralized gaming removes ownership from a single entity, it moves to the players. Players create guilds that operate similarly to decentralized autonomous organizations. With guilds, players can vote on the evolution of a title through the blockchain.

This process provides transparency. Furthermore, it presents more opportunities for gamers to participate in real communities and events. All the while, they can earn rewards through their contributions.

Guilds also present a path to incubation and acceleration. With Web3 gaming, players can join forces to fund and launch new projects.

Author Resource:-

Emily Clarke writes about NFT data platform, NFT API, NFT metadata for 40+ chains and other related topics. You can find her thoughts at NFT data platform blog.