Research Summary
The report discusses the current state and future prospects of web3 gaming. It highlights the challenges faced by the sector, the entry of major gaming studios into the web3 space, and the influence of big tech companies like Apple and Google. The report also mentions the growth of crypto-native games and the potential catalysts for the sector’s growth.
Key Takeaways
Web3 Gaming Challenges and Opportunities
- Significant Challenges: The web3 gaming sector has faced significant challenges, including plummeting token prices and declining VC investments. Some projects have even pivoted back to web2 gaming.
- Major Studios Entering Web3: Major gaming studios like Zynga and LINE are entering the web3 gaming space, emphasizing the importance of value in web3 gaming and potentially sparking further industry interest.
- Big Tech’s Influence: Tech giants like Apple and Google are beginning to embrace web3 gaming, with changes in their policies allowing blockchain-based games, paving the way for more mainstream adoption.
Crypto Native Games and Catalysts for Growth
- Shining Exemplars: There are some successful examples of web3 gaming, such as Parallel, a trading card game with deep lore and gameplay, and a growing niche called on-chain gaming with over 100+ gaming experiments.
- Catalysts for Growth: The combination of legacy web2 studios empowered by lenient app store policies and native web3 gaming innovations will lead the next bull run in the sector.
Actionable Insights
- Investigate the Potential of Web3 Gaming: Despite the challenges, the entry of major studios and the changing policies of big tech companies indicate a promising future for web3 gaming. Stakeholders should explore opportunities in this space.
- Monitor Crypto Native Games: Crypto native games like Parallel and on-chain gaming experiments are gaining momentum and could be the next big thing in web3 gaming. Stakeholders should keep an eye on these developments.
- Consider the Impact of Big Tech’s Policies: The policies of tech giants like Apple and Google can significantly influence the adoption and growth of web3 gaming. Stakeholders should consider these factors when making decisions.
