Why Top Gaming Studios are Diving into Web3 Gaming

The
web3
gaming
market
is
experiencing
significant
growth,
capturing
the
attention
of
major
gaming
studios.
According
to
a
report
by





Coingecko,
29
of
the
world’s
40
largest
gaming
companies
are
already
investing
in
web3.
These
investments
span
developing
blockchain
games,
funding
web3
projects,
and
hiring
blockchain
specialists

according
to
Immutable
(IMX).

Massive
Market
Opportunity

Game
studios
are
recognizing
the
vast
potential
of
web3
gaming.
Recent
projections
indicate
that
the
market
could
expand
from
$4.6
billion
in
2022
to
an
astounding
$65.7
billion
by
2027.
Robbie
Ferguson,
co-founder
and
President
of
Immutable,
emphasized
the
underestimated
potential
of
web3
gaming
at
the
Token2049
conference.
Immutable,
in
collaboration
with
King
River
Capital
and
Polygon
Labs,
has
launched
a
$100
million
web3
gaming
fund
to
support
developers
and
studios
transitioning
to
blockchain-based
gaming.

Immutable’s
platform
supports
over
330
games,
with
nearly
40%
expected
to
launch
in
2024.
The
significant
investment
of
nearly
$20
billion
in
gaming
platforms
over
the
last
four
years
underscores
the
industry’s
confidence
in
web3
gaming.

New
Digital
Ownership,
Distribution
&
Monetization
Models

Web3
gaming
is
revolutionizing
the
relationship
between
players
and
publishers.
Unlike
traditional
gaming,
where
monetization
models
often
burden
players,
web3
gaming
aligns
the
incentives
of
both
parties.
Players
gain
true
ownership
of
their
digital
assets,
and
game
developers
can
benefit
from
continuous,
non-exploitative
monetization
mechanisms.

For
instance,
the
trading
of
physical
cards
in
games
like
Magic:
The
Gathering
generates
significant
value,
but
the
developers
cannot
monetize
secondary
trading.
Web3
technology
allows
studios
to
earn
a
percentage
of
every
transaction,
providing
a
sustainable
business
model.
Immutable’s
platform
simplifies
the
development
of
web3
games
by
providing
comprehensive
tools,
APIs,
and
SDKs,
enabling
developers
to
focus
on
creating
engaging
gameplay
experiences.

Increased
Player
Retention
&
Engagement

Web3
gaming
offers
enhanced
tools
for
maintaining
player
engagement.
Flagship
games
like
Gods
Unchained
and
Guild
of
Guardians
demonstrate
the
potential
of
web3
to
sustain
player
interest.
Data
from
Gods
Unchained
shows
that
web3
gamers
transact
over
$130
monthly,
far
exceeding
the
revenue
generated
by
traditional
games.

Additionally,
web3
gamers
are
more
inclined
to
make
frequent
transactions,
indicating
a
higher
level
of
engagement.
Immutable
Passport,
an
authentication
solution,
simplifies
player
onboarding
and
offers
secure
digital
wallets,
fraud
protection,
and
seamless
authentication
across
web3
games
and
marketplaces.

Conclusion

Web3
gaming
is
poised
to
disrupt
the
$200
billion
gaming
industry.
Studios
that
adopt
this
technology
early
will
be
well-positioned
to
capitalize
on
the
burgeoning
market.
Immutable’s
platform
provides
developers
with
the
tools
to
create
web3
games
that
leverage
the
massive
market
opportunity,
new
monetization
models,
and
enhanced
player
engagement
mechanisms.

Image
source:
Shutterstock