Web3 gaming, despite its challenges, has the potential to transform the global entertainment market through the unique characteristics of blockchain technology.
Historical Context
Competing with the traditional gaming market valued at $200 billion annually seems like a daunting task for web3 gaming. However, history shows that niches like the video game industry were once on the periphery of major entertainment. Today, modern video games have a market value of $227.6 billion, far exceeding the global subscription video streaming revenue.
Leisure Economy
Each year, the number of video game enthusiasts grows, and they find new platforms with new business models. This is particularly true for younger generations who increasingly see gaming as their primary entertainment. Youth have more free time for gaming, allowing them to dedicate long hours to growing characters and acquiring in-game items. For adults, this time is reduced due to daily responsibilities, and this is where web3 can offer unique solutions.
Roblox Model and Web3
Roblox, as a social platform, allows users to create and monetize their assets, balancing financial incentives with quality gameplay. Web3 could enhance this model by granting players full rights to their virtual assets and creating new in-game economies. The younger generation, raised on games like Roblox and Fortnite, already expects this blend of financial and entertainment aspects in games.
Web3 gaming offers new horizons that will attract a younger generation of players. By implementing decentralized economies and enhancing gaming quality, web3 could become the foundation for a new level of interaction and creativity in the gaming industry.
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