Gabby Dizon, the co-founder of Yield Guild Games, anticipates a surge in Web3 game adoption sparked by shifting interest from play-to-earn (P2E) games towards free-to-play games.
He anticipates that by 2024, the most successful Web3 games will pivot from play-to-earn models to focus on being entirely free-to-play. These new free-to-play Web3 games will differ from P2E games like Axie Infinity Classic, which demand players to acquire at least three Axie non-fungible tokens (NFTs) to participate.
The free-to-play games will eliminate financial and technical obstacles to entry, becoming more accessible. This will attract more players, promoting mass adoption of Web3 games.
According to Dizon, the shift towards free-to-play games reflects a broader initiative by Web3 game developers to prioritise gameplay over tokenomics. He said, “There’s this big realisation that for millions of people to be able to get into a game, they have to be free-to-play first.”
He further notes that the change is intended to prevent the in-game economy from becoming a cash-generating machine, while simultaneously addressing worries about speculative gaming bubbles in Web3.
Over the last two years, the crypto market has seen declining prices and a sudden collapse in the value of Axie Infinity. Following this, many players left the space, and revenues trickled out from the ecosystem.
According to a 2022 survey, players departed the space due to over-financialisation of gameplay, lack of enjoyment, and difficulties in understanding crypto wallet technology.
However, amidst all these issues arose an opportunity for game developers. Inspired by Axie Infinity's success, many skilled teams ventured into game development. Their games secured funding in late 2021 and spurred a rush of innovative projects.
Commenting on the same, Dizon said, “Expect to see lots of really high-quality games, with high-quality teams behind them, as well as new experiments in tokenomics and earning models.”
Dizon anticipates the usage of artificial intelligence (AI) in gaming. He pointed out the introduction of the ERC-6551 token standard in gaming as a reason to be excited about blockchain-based games. With this innovation, gamers can automate tedious game tasks. Dizon says such an experience would make gaming more enjoyable for the players.
The Web3 gaming industry is set to experience a revolution with innovations, ranging from free-to-play games to AI. These innovations offer a future of diverse, high-quality Web3 games prioritising player satisfaction.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash