What is Web 3.0 and How it Is Changing The Future Of Gaming Industry?

What is Web 3.0 and How It Is Changing the Future of The Gaming Industry?

Why is there so much hype around Web 3.0? Well, that’s because it’s paving for new possibilities that were not previously fathomable. Mostly based on a concept of decentralization and furled by blockchain technology, Web 3.0 affords benefits that prove it is not just a gimmick but a trend that will form the cornerstone of the digital economy going forward. But what exactly is Web 3.0 and what sway does it have on the gaming industry? Our article discusses this and much more to get you up to speed with Web 3.0 and its impact on gaming. Let’s dive right in. 

Web 3.0 in a nutshell

We’ve had three iterations of the world wide web. Web 3.0 is the third wave, and is aptly named as such. It is the second predecessor to web 2.0, which lasted for roughly over a decade starting from the inception of the internet as we know it. We are currently in Web 2.0, which took the reigns sometime in the early 2000s, although this wave is presently in its sunset days.

Standing as the next step in evolution, Web 3.0 is still in the pipeline, but we are beginning to see glimpses of it today. Some examples of Web 3.0 in action today include: 

• Siri: Apple’s smart virtual assistant is a great example of Web 3.0 and where it’s heading as machine learning algorithms begin to take center stage. 

• Alpha Returns: Web3 Crypto Game Play to Earn Games are also great examples of web 3.0, and one such title is Alpha Returns by Caesium Labs

• dApps: Unlike common online applications like Google Sheets, for example, that submit to a single authority, decentralized apps are leveraging the benefits of the cloud but without answering to a central authority

There are many more examples of Web 3.0 all around us, with virtual and augmented reality a big part of it all as well. 

How Web 3.0 is changing the gaming industry?

Web 3.0 has become the new frontier in gaming as it’s helping to push the industry to new heights never thought possible. Here’s our round-up of its effects and potential on gaming: 

1. Web 3.0 is enabling player-centricity 

Games have always been generic traditionally. Catering to the needs of millions, customization is often left up to the player. However, Web 3.0 will help enforce player centricity even from the developer's point of view. 

Now, game developers use the capabilities of Web 3.0 to understand each player better, leveraging intelligent big data analytics and smart mechanics to provide a personalized gaming experience for everyone. In the long run, this will be great news for player satisfaction and retention. 

2. Creating play to earn economies 

Unless you’re a professional gamer or one with such influence as to benefit from advertisements and endorsements, gaming has often been viewed as a leisure activity rather than an income-generating one. 

However, web 3.0 is changing all that, thanks to the emergence of Web3 crypto gameplay to earn games. A great example of this is at Caesium Labs, where a profitable gaming ecosystem is thriving due to the power of crypto and blockchain. Users can create a Caesium crypto wallet and then amass Caesium tokens by spending time playing Alpha Returns across four background iterations, namely:

• Snow

• Mountains 

• Fabrication 

• Dessert 

In a nutshell, web 3.0 is opening avenues for ordinary gamers to explore their passions while making an income in the real world.

3. There will be increased democracy in gaming

The gaming market today is the reserve of multi-million corporations and companies. It bends to their will and gamers are powerless to change the course of various franchises or have very little say in them. 

That will all change once web 3.0 takes root. With decentralization in the mix, this monopoly will shatter, and instead, power will be given back to the users. Market bigwigs will be determined by player contributions, while a single entity will never truly have complete control. Consequently, this means game developers will also have to pay increased attention to what their users are saying, which means development will also switch to a more user-centric approach.

4. Web 3.0 set to bring more inclusivity in gaming

As things stand today, web 2.0 has made it easy for authoritative figures to enforce their restrictions, largely because of the centralized operational model. That’s why we’re seeing many games being banned in countries around the globe. For example, in parts of the US and Canada, gambling-based games are prohibited and enforced by strict legislation to scare off would-be perpetrators. 

However, that all goes out of the window with Web 3.0. The decentralization it affords thrusts bodies, countries, and governments into legal limbo, as they won’t be able to establish jurisdiction over such platforms. While the risks are obvious, the benefits also include: 

• A wider range of diversity in gaming 

• More inclusivity around the world for games

• Stronger connectivity among players and much more

5. Exclusive ownership is the order of the day

You don’t have to be a big shot to own an NFT now. All you need to do is sign up to a crypto gaming platform such as Caesium, and earn unique non-fungible tokens over which you will have sole ownership

So what does that mean exactly? Well, whatever players purchase or earn in the game in terms of NFTs or cryptos, they will have full rights over them. The game will not be able to take this away from him or her, even when said player stops playing.

Finally, be on the look for virtual avatars as well

Now, investments are not just done in the real world but in the metaverse (or virtual world) as well. You’ll have the choice to get your own 3D representative in games. Exploring benefits in this virtual world will have significant consequences in the real life as well. Overall, web 3.0 is an ecosystem of exciting technologies set to transform gaming for the better, the most significant way of which is the creation of play-to-earn communities. You can learn more about these and how you can get in on the action by visiting the Caesium Lab website.