Blockchain is poised to change the internet. We have already seen many new advances like the Metaverse and various cryptocurrencies. It does not take an expert to understand that blockchain will revolutionize the world of gaming as well.
Investors are all in too! So far, millions of dollars have already been invested into web3 gaming. So, how can you level up your knowledge so you do not get left behind? Here is how.
Different types of Web3 games
Although blockchain technology is the crux of web3 games, you still need to know the different types of web3 games out there. So, this is my first tip.
Knowing the different types of web3 games will help you understand what kind of game you want to create yourself.
Moreover, different games provide slightly different user experiences. Here are the four different types of web3 games you should know about.
1. Pay to earn games
Popular web3 game Axie Infinity is a perfect example of the pay-to-earn category. These games allow players to earn rewards in the form of NFTs or even cryptocurrencies as they play the game.
Players initially purchase in-game using assets or currencies earned while playing the game or from other NFT marketplaces. The assets in the game which the players buy are NFTs. Then the players can own, sell and buy these assets.
2. Metaverse world games
Metaverse has been in the conversation a lot lately. How the Metaverse will end up looking is still up in the air. But gaming is going to be a big part of it. Metaverse world games are another popular web3 game.
Players can immerse themselves in engaging virtual worlds. They can play and engage in various tasks within this gaming world.
3. Move to earn games
Move-to-earn web3 games are more involved and require players to move around. It is part of the core gameplay. You could create any concept where players will buy (and own) NFTs and use them to move around in the real world.
As you might imagine, most games in this genre are fitness-focused. If you are a sports games developer, these types of games could be a natural expansion for your foray into web3 games.
4. Fantasy sport game
Fantasy sports were (and still are) very popular even before crypto and blockchain. If you think about how any fantasy sports game works, it is quite easy to put the puzzles together.
A fantasy sports game could be the perfect example of crypto web3 games, where players can own playing cards as NFTs.
The Technology Stack of Web3
To increase your understanding and knowledge of the world of web3 games, you must also know what technology stack it uses. Here are the essential technologies that go into building a profitable web3 game.
As mentioned, blockchain technology is the crux of any web3 or crypto game. If you do not understand blockchain, you do not understand web3 gaming. It is as simple as that.
Blockchain is the underlying technology that allows the decentralized nature of web3 games and lets players own digital assets such as NFTs.
2. Web3 programming languages
3. Important Web3 libraries
If you are already a game developer, then you know how easy libraries can make it to work with certain technologies.
It provides developers with abstractions that make things much more user-friendly. Therefore, learning popular web3 libraries will be very important if you want to level up your web3 gaming skill set and knowledge.
4. Digital Wallets
You will also want to learn about digital wallets to become more proficient in web3 games. Digital wallets are essential to web3 and crypto gaming since they allow players to hold in-game assets and collectibles.
5. Smart Contracts
With the help of smart contracts, you can manage all kinds of game processes. They allow you to make decisions and also help to work to vote. Smart contracts can be customized to individual players’ needs as well.
6. Nodes and Web3 providers
Nodes allow your libraries and smart contracts to talk to each other. It is also used to access and extract information stored in the blockchain network. Therefore, knowing nodes is critical for web3 gaming.
Understanding Web3 game revenue streams
Your game needs to make money. Whether you are a developer, streamer, or content creator, knowing the revenue streams for web3 games will help you a lot. Here are the major ways you can earn money from web3 games:
- In-game currencies
- Selling in-game digital land
- Crypto games
- Content creation
- Flipping NFTs
The biggest draw of web3 games is NFTs. And that should be your primary focus. But do not get tunnel-visioned into it. As you can see above, you can earn revenue from a web3 game in many ways.
Understanding all these different ways will help you get a more well-rounded understanding of them. The gaming industry is huge even now. With web3 and blockchain, there is a whole new market you could expand to.
What are the key components of a web3 game?
All web3 games have NFTs, a Metaverse, and some form of decentralized autonomous organization (DAO). These are the main components that make up any web3 game.
Are NFTs safe?
NFTs are inherently safe. They are linked to digital assets and fixed in the blockchain network cryptographically. Owners are given a certificate of ownership too. However, NFTs are vulnerable to typical threats like phishing.
Is web3 and cryptocurrencies the same?
No, they are not. Web3 is the next step for the internet we all know and love today. It enables many awesome new things. Cryptocurrencies are ‘digital money’ that is enabled by blockchain technology.
Web3 and blockchain will revolutionize one of the biggest industries, gaming specifically. However, to be on the cutting edge, you must understand what the future will look like.
Though no one can say what the future will be, the things I mentioned today are solid bets. The technologies and tips I mentioned will help you get a solid grasp of web3 games for the future.