Mr. Ankur Singh CEO Founder of Witzeal Technologies Pvt. Ltd

The hottest buzz word on the market, Web3.0 has been coined as the newest internet ‘evolution’ that is set to completely alter the universe of gaming. To be precise, all new-age gaming-platforms and operators are moving towards adopting virtual reality (VR) and augmented reality (AR) as the norm to introduce an immersive gaming experience to players and users. And this is not just for those who are into the world of Esports or Fantasy gaming. The future of the internet has been designed to revolutionize the design and economy of gaming – with targeted focus on the purpose of gaming. 

The Web3.0 landscape helps the user to not only receive from the internet but interact with it. In this new-age, a player is not merely looking at gaming as a means of entertainment or recreation but as a means of engagement and even income. Simply stating, Web3.0 brings the concept of blockchain, cryptocurrency and NFTs to the mainstream, broadening the horizon of gaming money and other in-app purchases and assets beyond the limits of the game. 

A new-era begins now! 

Trumpeting the transition to a new-era of gaming, Web3.0 is a stepping stone from the free-to-play to the play-to-earn (P2E) model of entertainment, opening the possibilities of monetising the gaming industry like never before. Every asset owned, from the gadget used to play the game or a product inside the gaming-verse, everything can be bought or sold; both inside and outside the game. Owing to this, a new gaming ecosystem is on cards, where all market transactions will be driven via e-payment gateways, leading to an economy which is digital in every sense of the word. 

Beyond this, the gaming network is expected to see a comprehensive consolidation too. Every individual who is participating in trading of gaming assets will be engaged in interactions outside the gaming reality too. With this, several conversations and communities will transcend into the organic world which is anticipated to augment industry growth given a whole-new dimension of operations.

But what’s the appeal? 

Foraying into the future, no matter how exciting, is bound to bring in a lot of inhibitions too. However, the Web3.0 impact is being welcomed with open arms by the gaming industry and this unusual response is rooted in the appeal of this cutting-edge technology. 

Of the numerous disruptions and use-cases that Web3.0 gaming will offer, the most attractive is the system’s autonomous nature. The future of gaming due to Web3.0 is dispersed and democratized which can be operated with minimal to no interference from an apex body. This not only improves the openness and accessibility of the interface to the user but also diminishes dependency on a single server. 

And that is not the end of it. A decentralized gaming ecosystem is in favor of offering personalised experience to the players. To translate, a player can now customise their interaction with the game and its incentives which pails any other other feature or update that already exists or is yet to come.

One also has to take note of the metaverse cloud that comes with Web3.0 for the physical prospects of the reality stands at the brink of change. While the notion is still very new, metaverse is bound to redefine the fundamentals of Fantasy games and esports. Players can not only customize or interact with virtual worlds but also become a part of it through their avatars, own assets and craft their own world. 

The future of business 

Amidst this paradigm shift, Web3.0 will also change the way people indulge with games. While this is not a change exclusive to Web3.0 since the world has already seen movement of players from gaming consoles to PC, a whole new generation of gamers will be born because of the availability of Web3.0 technologies on smartphones. 

Once the user is hooked, the gaming industry can also systemaise the subscription-model for gaming. Similar to music and OTT apps, a pay-per-use-model for gaming consoles, controllers, streaming platforms and community memberships, which is already available, can be molded better. In terms of conversions, it is bound to enhance consumer engagement by a score. 

Bottom line 

Web3.0 technologies is a tool that promises the development of a new world, significantly constructing, powering and providing to a new industry. This is the beginning of infinite possibilities and space, in-app modifications and technological advancements. In other words, Web3.0 is an integrated network that will bring different stakeholders on a single line and enabling interactions with efficiency so seamless that blurs the line between digital and reality. 

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Views expressed above are the author’s own.


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