Web3 gaming needs to step up its game.

Web3 gaming needs to step up its game.

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The next big thing is frequently predicted to be blockchain games. The CEO of Earn Alliance, Joseph Cooper, examines the difficulties facing the sector and offers solutions.

Over the next 10 years, web3 games have the potential to take a considerable market share and establish themselves as major players in the gaming business. However, the world of Web3 gaming is not without its difficulties, just like every emerging breakthrough. Although the sector has made several commitments and strides, it is crucial to consider whether we are on the right path. Are we moving in the right path, and what has to be done to overcome obstacles and deliver on the value that has been promised in this new era?

Let’s look at the market’s current situation before moving on.

The situation of Web3 gaming today
Gaming has been a big influence in the Web3 market since 2021, offering excitement, large finance, and innovation. The 2022 Blockchain Games Report from DappRadar demonstrates the intense activity in the investment landscape. From US$27 million in 2019 to US$7.6 billion in 2022, investments in blockchain games increased.

Investments in blockchain gaming and metaverse initiatives surged by 12.95% to reach US$739 million, according to DappRadar’s “State of Blockchain Gaming in Q1 2023” study, pointing to a bright future for the sector.

Web3 gaming has had a spectacular uptick, growing by an incredible 2000% between 2021 and 2022. Beyond any prior records in the gaming business, this astonishing rise has not only grabbed the attention of ardent gamers but also a large number of highly experienced creators.

In 2022, Web3 gaming proved its tenacity and established itself as a prominent player in the blockchain industry. The gaming industry kept expanding internationally as other Web3 industries slowed down. Web3 gaming saw continued investment during this time, despite what some could call a “crypto winter.”

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