The recent quarter has been a significant time for web3 gaming, marked by notable airdrops, widespread participation in tap-to-earn games like Cosmic Royale, and impressive gains for companies such as Tether, Coinbase, and Aave. Moreover, advancements in web3 technology and the quality of blockchain games are evident, positioning web3 gaming on a remarkable upward trajectory towards making a lasting impact in the broader gaming landscape.
This article reviews the developments in web3 gaming during Q3 2024, focusing on key topics like the ascent of Telegram and the TON blockchain, the evolution of player creators within the blockchain gaming community, and other significant trends.
Telegram, TON Blockchain, and the Tap-to-Earn Revolution
One of the standout players in the sector this past quarter is Telegram, generating substantial buzz with the launch of the TON blockchain, which includes integrated blockchain applications and the TON token.
Tap-to-earn mechanics have gained immense popularity, with games like Hamster Kombat and Catizen attracting vast audiences. Long-standing developers such as Gala Games and Boomland have also begun to engage with these new game formats. Notably, Everseed has shifted their focus entirely to launch Farm Frens, a straightforward but engaging farming game on the Telegram platform.
While there was some disappointment among players regarding the recent airdrops from Catizen and Hamster Kombat, this was largely due to inflated expectations rather than any issue with the airdrop initiatives.
The growth metrics for TON blockchain have been astonishing. Since June 2024, over 60 million new accounts have been registered (totaling 100 million), along with nearly 15 million new wallets (over 21 million in total). With 10 million daily transactions, TON has firmly established itself as one of the most widely utilized blockchains.
Despite the legal challenges faced by Telegram’s CEO, Pavel Durov, who was recently arrested in France, the platform’s integration with web3 gaming seems set to continue its growth trajectory. This suggests that Telegram and web3 gaming are likely to remain intertwined for the foreseeable future.
Seamless Web3 Integrations on the Rise
Web3 developers have long anticipated that true acceptance of blockchain technology would come when it operates seamlessly in the background, much like cloud services do. Currently, over 90% of organizations use cloud technology, often unnoticed by users because it’s integrated effortlessly into applications.
We are witnessing progress in this direction throughout the blockchain space, with examples including MetaMask’s release of a Mastercard debit card for immediate crypto transactions and Telegram’s own crypto wallet integration. Banks are increasingly adopting blockchain for cross-border payments, facilitating smoother transactions.
In terms of web3 gaming, the emphasis has been on simplifying the onboarding process for new players, making wallet interactions easier. While seasoned blockchain gamers have adapted to handling gas fees and transaction confirmations, attracting users conditioned by traditional gaming platforms necessitates a focus on accessibility.
Innovations such as Immutable Passport, integrated with Immutable zkEVM, are enhancing user experience by distributing tokens and NFTs without requiring additional input from players. This creates a player-driven economy that operates autonomously.
As digital identities that operate across different platforms become more common, expect to see the adoption of tools like Immutable Passport and MOCA ID continue to grow, alongside upcoming offerings such as Ronin Waypoint and Privado.
Blockchain’s Expanding Role in Traditional Industries
The last few months have seen a surge in stories regarding the use of blockchain by established companies, signaling that integration is becoming more permanent.
Banks utilizing blockchain for instantaneous settlements, Paypal launching new crypto initiatives, and even Lloyd’s of London backing crypto asset insurance are all part of this trend. This represents a significant shift in how traditional sectors view and use blockchain technology.
Further, the tokenization of real-world assets is gaining traction, with numerous organizations exploring avenues in tokenized real estate, art, and commodities. The benefits of such shifts include reducing costs and settlement times while providing verifiable asset histories.
Embracing the “Create and Earn” Model
The concept of “create and earn” underlies the broader “play and earn” model. While playing games generates valuable content, the potential for rewards extends beyond gameplay to social media engagement, content creation, and asset development.
New blockchain gaming initiatives increasingly incorporate create-and-earn strategies that reward users for engagement in various ways, from creating fan art to participating in community events.
Platforms like Tribally and Fiend3AI are pioneering community engagement programs that reward users for a range of activities, while user-generated content platforms like The Sandbox and Decentraland empower players to craft and monetize their own experiences.
The Enduring Appeal of Play-to-Earn
Regardless of how the terminology evolves—be it play and earn, game to earn, or play-to-airdrop—the foundational idea of earning through gameplay remains. The integration of in-game earning mechanisms is increasingly recognized as vital.
While incidents of unsustainable economies and bad game design persist, the play-to-earn landscape continues to mature. Players worldwide have begun leveraging blockchain-enabled games for meaningful income, especially in regions facing economic challenges.
Summer of “Play to Airdrop”
The phrase “play to airdrop” has been trending strongly within web3 gaming communities. This summer brought a wave of opportunities for players to join various airdrop campaigns. Many campaigns are accessible to everyone, providing avenues for earning through gameplay.
Looking Ahead: The Future of Web3 Gaming
With the current momentum, the trajectory of web3 gaming is difficult to predict. However, several trends are likely to become more prominent in the upcoming months:
Emergence of Gaming-Specific Blockchains
The launch of chains like Immutable zkEVM and Blast, alongside expansions of existing chains, signals a rise in gaming-specific blockchains driven by web3 gaming innovations.
Incorporating AI into Gaming Experiences
Though the initial AI hype has cooled, the integration of AI within gaming is on the horizon, with potential applications in asset generation and intelligent game mechanics.
NFT Projects Branching into Gaming
NFT collections are increasingly expanding their reach into gaming, enhancing the utility of generative NFTs by linking them to engaging gameplay experiences.
Final Thoughts
The permanence of web3 gaming is evident, with its presence felt across mobile, PC, and console platforms. While traditional gaming still holds a larger share of the market, this year has been pivotal for blockchain gaming, with continual expansion and exciting developments expected as the year progresses.
Stay updated with PlayToEarn as we delve into the world of web3 gaming and bring you the latest news. Join our Discord server for engaging discussions and subscribe to our weekly newsletter to stay in the loop during this exciting era of blockchain gaming.
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