September 25, 2023
Web3 gaming- enabling users to earn while playing

Considering how the world has constantly been evolving, it is no surprise that gaming has undergone several changes as well. Remember those skins that we used to buy for so many different games? Well, we all know the scolding we got for those unnecessary purchases, but not anymore! With the way web 3.0 gaming works, things are due for a massive change, and those purchases that you made recklessly will now be seen as more than what they were.

A brief intro 

Considering that all of you must have seen games where you need to make certain in-game purchases, while some of them might not be a must, some of them add that wow factor to the game and character that you choose to play with. Here’s why.

These games are often open-world games that keep all the characters looking the same so that countless people would look the same. The only way to differentiate each other would be by the purchase of skins. This, however, would end up becoming a nonprofitable transaction because of the temporary uniqueness that it gives. At some point, it will end up in the inventory, causing it to gather virtual dust. 

The difference between such games and web 3.0 gaming is that these games are now being made with the integration of blockchain technology which means the characters, the items, the loot, and all the other assets are NFTs! 

A deeper dive in

Consider this, the games you played previously are just lying in a folder that you no longer use, and the skins, the characters, and the weapons that you bought are all in the inventory, but in the case of the P2E games, the characters, and all other assets are NFTs making them not only collectible but also valuable. While it is not always a profitable venture, it has more growth potential than the others.

When a character is designed or created, the fundamental rights remain with the company that created it. In the case of these games, you gain complete ownership over them as these characters are now pieces of art. Considering that any form of art, audio or visual, can be made into an NFT which in turn permits the buyer to own it fully. This helps keep in the unique factor while at the same time allowing you to trade or sell it for a profit.

More on Web3 Gaming

So with the basics of what we need to know, let us get a bit more into detail as to how Web3 gaming is in a league of its own when compared to its predecessor:

  1. Digital wallet– This exists to act as a medium to store the cryptocurrency and NFTs that are being purchased. The sole reason these wallets exist is to act as a storage unit to hold both the cryptocurrency and the NFTs. 
  2. Asset transfer– The flexible and smooth movement of assets and the quickness and efficiency of the transactions and/or trade is completed in a short while without any hicks.
  3. Transparency and availability– These factors are one of the key points of these games as many a time there are several unrevealed issues in countless different games, but that’s not the case here. Remember the exclusivity factor? Well, that’s where the availability plays a major role as character NFTs can start anywhere as low as $20 up to a few hundred.
  4. Flexible gaming Ecosystem– This is quite an interesting approach because each character being purchased is not the same, then the entire plot or the storyline of the game will change accordingly, allowing you to explore countless different alternatives based on the character and/or game being played.
  5. The DAO– Not to be confused with the Chinese kung-Fu Dao, these are Decentralized Autonomous Organizations; the reason this is important is that this allows the community of token owners to dictate what kind of approach or route should be taken regarding the game, which in turn allows all the NFT holders to be satisfied with the results.

Wrapping things up

To summarize the following mentioned content, it would be simple to say that these games are not just for entertainment. They are portals through which something big can be achieved in both gaming and finance.

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