The evolution of the internet and blockchain technology has paved the way for a new era of gaming known as Web 3 Gaming. This new gaming experience involves decentralized platforms, smart contracts, and the use of cryptocurrencies, making it possible for players to own and control their in-game assets.
What is web3 gaming?
Web 3 gaming, also known as blockchain gaming, refers to gaming that uses ledger technology mostly to give the player or community more power over the product through transparency, security and financial power over in-game assets.
As we established, web3 gaming is based on decentralization that’s why most of the games are built on blockchain technology and includes cryptocurrencies and NFTs.NFTs do not have to be traded through third party intervention, they can be traded on decentralized marketplaces like Binance NFT or OpenSea.
Because web3 gaming is decentralized it gives the player more unique benefits. It is not only more secure and transparent but it also gave a rise to the play to earn model also known as “P2E gaming”. Players can earn cryptocurrency and NFTs through playing the game and leveling up which also makes the player have more incentive to come back and keep playing the game.
How does web3 gaming work?
As is already mentioned, web3 games are built on decentralized blockchains.These decentralized blockchains make for greater transparency for the player and community.
Second are the smart contracts that automatically manage and transfer the in game assets between players. These contracts are giving the player more control and ownership over their in game acquired assets.
And as third are the digital wallets in which the player owns all their crypto assets like the different currencies and NFTs. This allows the player to easily transfer their assets between the web3 games they play and their own wallet.
And the last part that is also really important in web3 gaming is the community itself. In web3 gaming the collaboration between the developers and community is very important. Because most of the web3 games are decentralized it makes it that the players have a bigger sway in how to shape the game and in which direction it should go.
All these components together make web3 gaming work.
Why are Web3 Games popular?
Web 3 games are becoming more popular among gamers. The first reason is that web3 games are new and exciting, that makes it intriguing for new players to play the games. And the second reason is the level of ownership and control the player has, that at this moment is not possible in the more traditional online games. Because of the NFTs they can really profit and control their own items through buying and selling them.
What also makes web3 games popular is the community aspect. This community driven gameplay makes it more engaging and rewarding for the player to play the game. And might even give them a greater fulfillment than traditional games.
Conclusion.
Web3 games are a new and exciting type of online game that offers a level of ownership, control, and transparency with a lot of new and unique features. Web3 games are also becoming more popular with a growing number of players and are most likely to keep growing in the coming years. If you are a gamer looking for some new and exciting ways to play games then web3 games might be your answer.