Hi there everyone, TheRingMaster is back again with another Web 3.0 based article. In today's blog I'm not going to touch on the potential of Web 3.0 in general but one very fun aspect of it; the gaming side.
If you're a fan of Web 3.0 or Hive based games like SplinterLands and Holozing or even off-chain games like Fortnight, Call of Duty and GTA, I would definitely love to hear your thoughts on what I'm about to discuss - If you're not a gamer, I believe you'll be interested in this topic because everyone is a fan of the cash right, hehehe.
No doubt, the gaming industry as a whole has changed a lot over the years from just being a means to pastime. I remember very old model games and it was either something that excited children or was a way to spend some time doing nothing for adults. However, today's games have become extremely cool with more adults entering the industry.
We've got adults or middle aged people loving and anticipating the release of different games. The industry has done a very job. In today's world, not everyone is in the gaming industry because they're gamers who love awesome games but it has become an actual business where people can make money and even become rich.
People literally become millionaires playing online games that allow them to earn and some gamers create powerful social media pages where they share their passion and experience in gameplay and they monetize those channels.
- I personally admire the gamers on social media a lot because they get to do what they love and earn from it. I used to follow some of the greats like PewDiePie but I think my new favorite just has to be my best Buddy
who's doing ok posting his gaming experiences on both Hive and YouTube.
Now the interesting thing is that most of the powerful and popular online games out there that people earn lots and lots of money from playing are actually built on Web 2.0.
The Highlight of my blog is this - What If We Could Earn the same if not more money playing Web 3.0 based games instead of Web 2.0 games
Web 3.0 as we all know is the next version of the Internet and has Blockchain with all its benefits including Decentralization, cryptocurrency integration, transparency and security.
I actually believe that Web 3.0 could make gaming a possible career for many more individuals today than Web 2.0 has done. Why do I say that?
- Well one major advantage of Web 3.0 is its inclusivity. Most of the games that people earn a lot of money from on Web 2.0 are exclusive to certain parts of the world or with requirements. These barriers can be broken by Web 3.0 and that's not all. I'll explain further as we move one.
Traditional Games - Routes to Millionaire Status
Now before we look at Web 3.0 games, I would love to share a couple of examples of how traditional games have already opened doors for gamers to earn themselves huge amounts of money in return. Of course not everyone can master such games to become this successful or wealthy but as a stream of income, I believe most people that are given the opportunity can actually do it.
FORTNITE
When I first watched the video I shared above, I said "my goodness, that much money for winning a game, a lot of people don't even earn this much in retirement money" however that's the potential of gaming.
Kyle Giersdorf with the nickname Bugha won the tournament and got $3,000,000 during Fortnite World Cup 2019. Yep, the video is right up there and any Fortnite fan might have already seen this.
DOTA 2
This is another very interesting game with one of the biggest prize pools in Esports history. The International tournament for Dota 2 managed to produce earnings that surpassed seven million dollars for a player like Johan “N0tail” Sundstein. Millions and millions have been earned in this particular game and it continues to amaze me how much more money is to be made in the gaming world.
These games have really shown that gamers can achieve financial success with skill and dedication.
Now imagine all this potential merged with the power of Web 3.0. Web 3.0 games offer some really new advantages and mechanisms which I believe might make earning more accessible.
If you watched the second video I shared, above, one of the players in Dota 2 almost quit the game because he just couldn't afford to enter but actually managed in a way to do so. I believe if Dota 2 was Web 3.0 based, he would have had it much easier.
Web 3.0 Games - A New Frontier
With Web 3.0 games being built on Blockchain technology, we get to have play-to-earn (P2E) models where the players can earn real value from their in-game activities. The biggest Web 3.0 game on Hive right now is SplinterLands and I think it might also be one of the biggest in the entire Web 3.0 realm.
I've got quite a lot of friends here that play SplinterLands and share their experiences in blogs. This is pretty similar to playing fortnight and streaming the experience. Hopefully we will see more 3speak videos of SplinterLands in the future but I think there's a reason why there are less of the video streaming of SplinterLands and we'll get into that shortly.
A Bit About SplinterLands Just In case
For those that are not too familiar with the game, it is a digital collectible card game through which the players are able to buy, sell or trade cards and make money in terms of cryptocurrencies as well. The better your cards and strategies, the more battles you win and each win comes with an earning.
You're not necessarily going to be a millionaire from SplinterLands but you actually could have if SplinterLands was as big as Fortnite.
DEC is the crypto you earn from playing it. SplinterLands and the other games on Hive shows how Web 3.0 games can actually reward their players with real money unlike other traditional games. You see the thing with Web 2.0 games is that it's centralized and unless the organizations that create the game allow you into a contest with a prize pool, there's no money to earn.
In all my years playing GTA or NFS, I've not earned a dime from it. Unless I manage to enter an earning contest which would be obviously insanely competitive, I'm getting no money. This is the barrier that Web 3.0 games break. It would allow everyone and anyone from anywhere in the world to have a chance to earn in cryptocurrency so there's no exclusivity in who can earn and who can't.
When Web 3.0 games become huge as we keep solving the problem of scalability and crypto adoption, you can be sure to see Web 3.0 millionaire gamers. Imagine if you could earn tens of thousands of dollars from just few hours playing SplinterLands or any other Hive Game daily. Quite a lot of people will probably quit their jobs to dedicate themselves fully to it. I know I would hehehehe.
Web 3.0 games have great potential and just like how Web 3.0 itself is in the early stages, so are the P2E games that come with.
The question I would ask all gamers is if you weren't earning from any of the P2E games, would you play it or play a game like GTA, NFS, COD or Fortnite?
This is a question I really had to think about and sadly my answer was that I would play GTA because they built it for fun knowing that players aren't getting anything from it either that pure fun. This is not to say that P2E games aren't fun, because they are.
However there's a lot of work to be done in improving the fun side of it.
Fun and Earnings - Striking the Balance
I honestly believe that for decentralized gaming platforms on Web 3.0 to succeed, they should offer similar entertainment value as conventional games do.
Having only the potential earnings is not enough for retaining the gamer’s interest in playing any game. With the way Web 3.0 games have been designed and merged with their crypto rewards, if more players lose interest in the game, the value of the rewards can go down and it could come at a loss for other players. So definitely the quality of gameplay itself needs to be a primary focus along side its earning potential.
In other words, if you're a Web 3.0 game developer, just build a great game with its earning potential and you essentially create a good addiction for players.
This is why there are less SplinterLands 3speak streams because SplinterLands definitely needs more graphics, scenes, perhaps a battle where the players will have to actually fight and with more dynamics. That way it would be enjoyable to watch players play. However it's still pretty cool now.
I Put Together A Few Aspects of Web 3.0 Games That Must Be Considered When Building It
- Engaging Gameplay
Probably not too challenging but also not too easy that it becomes boring.
- High-Quality Graphics and Sound
There's a reason why GTA 6 is getting so much hype and attention, have you seen the graphics on that thing. They spent over a billion dollars if not more on the game dynamics, graphics, sounds and overall scale. There was no stone left unturned. The game needs to be so good that it immerses the players.
- Compelling Stories
That's another reason why GTA, Call of Duty and Need For Speed is so great. Players get hooked to the games because of the storylines. A good narrative will always make players feel connected to the world the game creates.
I actually think a lot of the game developers on Hive are doing great with these elements but there is always room for improvement.
The Future of Games - Metaverse, AI and VR/AR Integration
The world's technology is constantly advancing in all areas and with the direction it's going, I believe the gaming industry will get a serious makeover. From Artificial Intelligence to the Metaverse, these are all technological advancements that can do more in the gaming industry than any other industry.
We're already seeing this happening on GTA 6 which was meant to release earlier this year but wqs been postponed to 2025 and rumors has it that they intend to integrate AI into the NPCs which will make the game a whole lot sweeter. Web 3.0 can take advantage of AI to build much cooler games that players will both enjoy and earn from.
Also with Metaverse technology advancing, gamers in the future will be able to interact seamlessly with various games and virtual worlds. Asset ownership and earnings can be moved across several different games as well as platforms thanks to the Web 3.0 Blockchain power. The games that use AR or VR will make it feel more real, engaging and immersive.
No doubt friends the future of Web 3.0 games look very promising. All this entertainment plus earning lots of money.
So hang in there Web 3.0 gamers, the future is brighter. Thank you so much for taking the time to read today's blog. As always I would love to get your feedback on the blog topic.
- Do you think the traditional games will incorporate crypto earnings soon to include all players in the earning potential?