Shortcomings of web3 gaming
Currently, web3 gaming lacks or doesn’t fully satisfy the following:
Skill-based gaming ecosystems - Web3 gaming lacks a wide variety of comprehensive skill-based gaming ecosystems that reward players purely based on their skills rather than their investment in the game. Many web3 games are heavily reliant on the play-to-earn model, which can sometimes prioritize financial investment over genuine gaming talent. This can deter gamers who are looking for platforms where their gaming skills can lead to success, irrespective of their financial contributions.
High-quality, realistic sports games - Despite their competitive essence and widespread popularity, sports remain a relatively underexplored area of the current web3 gaming landscape. While there are some blockchain-based sports games, they often lack the depth, graphics, and realism offered by their web2 counterparts. The sector is yet to fully satisfy the demand for high-quality, realistic sports games that can compete with traditional gaming platforms.
Win-to-earn wagering mechanism - Given the known shortcomings and limited sustainability of current play-to-earn models used by many web3 gaming ecosystems, there is high demand for an effective win-to-earn wagering mechanism that is fair, transparent, and entertaining. Win-to-earn allows players to wager on their skills in player-versus-environment (PvE) or player-versus-player (PvP) and earn money by winning.
Transition of web2 gamers to web3 gaming - The migration of gamers from web2 to web3 platforms has been slow, due to the complexity and unfamiliarity of blockchain technology. Many traditional gamers are hesitant to make the transition because of the perceived steep learning curve associated with managing digital wallets, understanding tokenomics, and navigating decentralized platforms. The aforementioned lack of high-quality skill-based games in web3 adds to the problem.
Multi-token wagering - Implementing multi-token wagering systems that are user-friendly and versatile is another area where web3 gaming doesn't fully satisfy current needs. Gamers looking for the flexibility to use different cryptocurrencies or tokens within games often find their options limited. Especially in cases of smaller gaming ecosystems, tokens or coins of the game are only available on few decentralized exchanges and require relatively high effort to obtain. Allowing only one, most often the native currency of the project, creates barriers to entry and limits the number of people participating.
“Victory comes from finding opportunities in problems.”
Sun Tzu - Chinese military strategist - 5th Century BC
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