Web 3.0 Gaming Expected to Flourish in 2023

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  • Current players in the Web 3.0 world expect blockchain gaming to attract more participants in 2023
  • Executives in the space anticipate seeing conventional gamers join the space in the course of the year
  • P2E and M2E will be among the most adopted gaming models in the scene

Players of Web 3.0 games are optimistic that the industry will grow in 2023, according to a BGA report, with play-to-earn (P2E) and move-to-earn (M2E) being the most preferred gaming models this year. The report cited game improvement as the highest factor that is affecting the adoption of blockchain games, and executives in the space think that the involvement of the likes of Google in the blockchain space will contribute to more players boarding the Web 3.0 gaming train.

P2E Model Removes the Fun in Games

Speaking to Cointelegraph, Aleksander Larsen, an executive at blockchain game Axie Infinity’s creator Sky Mavis, thinks that traditional game developers are waiting to see how much revenue the current breed of Web 3.0 games generate which will act as a confirmation for them to join the space. However, Larsen doesn’t think P2E, in its current form, is the way to go since it concentrates more on earning and neglects the fun part.

Larsen’s views were also shared by an executive at BNB Chain, Zoe Wei, who said that the gaming model needs more research before being considered a standard in Web 3.0 gaming, but added that the model will still dominate in 2023. Wei also stated that digital collectibles have a special advantage for both gamers and game developers. 

Web 3.0 Gaming Projects to Receive More Funds

For Wei, these advantages have attracted major game creators into the space, a phenomenon that’s likely to continue this year. Investors like Carlos Pereira of Bitkraft Ventures also expect more money to flow into blockchain gaming projects in 2023 to continue a trend that started in 2022. 

The comments come a day after Web 3.0 powerhouse Yuga Labs announced a new NFT game and roughly a month after blockchain game The Sandbox engaged OpenZeppelin to protect gamers. However, Kaspersky recently warned that criminals in the Web 3.0 space will lure gamers using in-game items, an indication gamers must be on the lookout despite a positive blockchain game environment in 2023.