Blockchain-based games are striving to reach mainstream audiences, but the question remains: What is the most effective approach? According to web3 game developers, there might not be a definitive answer.
To captivate Web 2.0 audiences, it seems crucial for the industry to meet them where they already exist. Sumeet Patel, the founder of NFT-based algorithmic prediction game Exiled Racers, suggests that web3 game developers should move web3 components to the backend and refrain from actively promoting games as being based on web3 technology. This strategy aligns with users’ desire for simplicity and functionality rather than understanding the underlying technology.
Nicholas Douzinas, business development and growth lead at decentralized gaming platform Ajuna Network, states, “It doesn’t sound good, but gaming doesn’t need blockchain today, but blockchain does need gaming.” He emphasizes that while blockchain gaming may not currently play a significant role in the market, it holds potential for future growth. Douzinas highlights that NFTs (non-fungible tokens) may hold little value for gamers who do not prioritize ownership. However, there is a segment of users who are deeply interested in web3 technology and seek engagement with blockchain applications.
The global gaming industry is projected to expand from $282 billion in 2023 to $666 billion by 2030. This growth can be attributed to an increasing number of individuals selecting video games as their primary source of entertainment and widespread access to mobile games through 4G-enabled smartphones. Interestingly though, blockchain gaming did not emerge as a major trend or driving force behind this growth. Given its relatively small share in the market, it has yet to significantly impact the industry.
Ajuna Network aims to attract individuals who possess an interest in web3 technology and blockchains while also embracing token ownership and its associated possibilities. However, not all gaming companies adopt this approach.