Technology advancement has revolutionized the gaming industry in the past numerous years, and with Web3, we are presently on the verge of one more significant progress in the industry as gaming moves from free-to-play to play-to-earn.

In the world of Web3, gaming will permit players to earn money while playing the game. In this new age of gaming, if players spend money on purchasing some assets, they can possess them and sell them to different players inside or outside the game.

Centered around ownership
Bridge Craven, co-founder, and CEO of Arterra Labs, a digital collectible hub with a focus on Esports, discussed how the gaming industry is entering a new paradigm centered on ownership.

“What we’re building at Arterra Labs is essentially about having fans now own their fandom,” he said.

“While the underlying technology is centered around ownership, it has different applications and context within different communities, as well as the creative ways it can enable ownership for fans and players,” he added.

Expanding the use cases of Web3 in gaming
Alex Shalash, co-founder, and CEO of metaENGINE, a game tech startup that is reclassifying GameFi with the most progressive game engine on the planet, contextualized how they were growing the use instances of Web3 in gaming by permitting game developers to foster exceptionally versatile ventures, Metaverse open worlds, and GameFi projects.

“We are enabling technology that brings games away from the centralized publishing platforms, or centralized publishers that own those great brands, closer to the players themselves,” he said.

“We believe that, in the end, the value of the games will be much more concentrated in the hands of the gamers, because they are in some ways responsible for the success of those games,” he added.

Exciting trends and opportunities in Web3 gaming
Gamestar is a streaming application that joins exemplary gameplay designs with creative “play-to-earn” blockchain engineering, and Todd Youthful, Co-founder and CEO, Gamestar+, highlighted the most thrilling patterns and potential opportunities in Web3 gaming and how they are changing user conduct decisions.

“I believe it’s really about personalization, relevance, ownership, and equity,” he said.

Todd believes that the changing trend is focused on equity, which he believes is coloring our entire world socially, politically, and financially as we get into decentralization and other opportunities to build wealth. “All of this is extremely attractive, particularly for the sub-segments that really drive the gaming category,” he added.

Credit: Yourstory