The rise of Web3 technology is driving the gaming industry towards earning profits and creating real value.
Written by: Ali Asef
Translated by: 白话区块链
With the emergence of Web3 technology, the gaming industry is undergoing a paradigm shift. Games utilizing blockchain components such as NFT and ERC20Token are revolutionizing the gaming experience, providing players with new opportunities to earn real value through gaming. This article explores the requirements for creating a Web3-based game for earning profits, the involved concepts, and the latest trends in this rapidly developing field.
1. Concept of Play-to-earn Web3 Games
Play-to-earn Web3 games allow players to earn real value in the form of cryptocurrencies, tokens, or NFTs during the gaming process. These games utilize blockchain technology to establish true ownership of in-game assets, enabling players to buy, sell, and trade digital items in decentralized markets. Players can earn rewards by completing tasks, battling opponents, or participating in community activities within the game.
If you are interested in building a metaverse game, we highly recommend reading our two previous articles on this topic: [Part 1] [Part 2]
Additionally, if you are interested in statistical data on Web3 game development, you can read this article: 4 Reasons to Prove That Web3 Gaming Is Not Dead.
2. Key Role of Game Economics and Token Economics
The success of profit-earning games in Web3 depends on a well-designed financial ecosystem, including the principles of game economics, decentralized finance (DeFi), and token economics. Game economics provides the foundation for understanding how in-game value is created and exchanged. DeFi introduces mechanisms such as staking and liquidity mining, allowing players to earn passive income. Token economics studies the supply and demand of tokens, crucial for maintaining the economic balance of the game, ensuring the sustainability of rewards, and the healthy development of the in-game economy.
An example of NFT distribution and game economics in the Iskra project (currently the top-ranked game based on trading volume).
3. Web3 Concepts in Play-to-Earn Games
Web3 play-to-earn games utilize various Web3 concepts and technologies to create engaging and rewarding gaming experiences:
ERC20Token: Many Web3 games use ERC20Token as their native currency. These tokens are used for purchasing in-game assets, rewarding players, and facilitating transactions within the game ecosystem.
Non-Fungible Tokens (NFTs): NFTs are unique digital assets representing ownership of in-game virtual items. These can include character skins, weapons, land, or any collectible items. NFTs can be traded on dedicated NFT markets, allowing players to buy, sell, or trade their virtual assets.
NFT Market: Web3 games often integrate or collaborate with NFT markets, enabling players to buy, sell, or trade their NFTs. These markets utilize blockchain technology to facilitate secure and transparent transactions.
Staking and Liquidity Mining: Many Web3 games incorporate DeFi concepts such as staking and liquidity mining. Players can lock tokens or NFTs in smart contracts to earn rewards, participate in governance decisions, or contribute to the game ecosystem.
Decentralized Autonomous Organizations (DAOs): Some Web3 games are managed by DAOs, decentralized organizations operated by community members. Players can participate in the decision-making process and shape the future of the game through voting mechanisms.
Interoperability: Web3 games often pursue interoperability, allowing assets and tokens to be transferred between different blockchain ecosystems. This enables players to use their assets in multiple games or metaverses, expanding opportunities for earning and trading.
4. Latest Trends in Web3 Games
The Web3 gaming field is dynamic, with rapidly changing trends. Interestingly, many popular games from the 2022 metaverse hype, such as Axie, Decentraland, Sandbox, and Star Atlas, no longer hold significant positions in the current hot games list. Instead, new games with innovative concepts and substantial investments from venture capitalists are competing to attract new Web3 users.
The following are the top-ranked games based on the number of active wallets in the past month, according to Dappradar statistics.
The following are the popular games ranked by trading volume.
The following are the popular games ranked by transaction volume.
5. Conclusion
The rise of profit-earning Web3 games represents a paradigm shift in the gaming industry, providing players with new opportunities to earn real value from gaming. By integrating blockchain technology, DeFi concepts, and token economic models, developers can create engaging and sustainable game economies. Keeping ahead in the rapidly evolving Web3 gaming field requires expertise and innovation.
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