Research Summary
The report discusses the resilience of Web3 gaming in the current crypto climate, highlighting the potential of blockchain gaming. It provides an overview of the funding landscape, success stories, and challenges faced by various projects in the sector. The report also delves into the role of infrastructure in the evolution of fully onchain games.
Key Takeaways
Web3 Gaming: A Resilient Sector Amidst Crypto Volatility
- Resilience of Web3 Gaming: Despite the volatile nature of the crypto market, Web3 gaming has shown resilience. The sector has attracted significant funding, with Messari Crypto’s report indicating that the gaming sector outperformed all other consumer application segments in Q3, securing over $140 million in funding.
Success Stories in Fully Onchain Gaming
- Trailblazing Projects: The report highlights the success of fully onchain games such as ‘Pirate Nation’ by Proof of Play, which raised $33 million in funding, and Paima Studios, which received a $1.4 million grant from Cardano. These successes underline the potential of the industry.
Funding: A Double-Edged Sword
- Funding and Success: While funding can provide a boost to projects, it does not guarantee success. The report cites the example of Ascenders, which despite securing $6.5 million in funding, had to halt their project due to financial constraints.
Role of Infrastructure in Onchain Gaming
- Infrastructure and Game Development: The report discusses the importance of infrastructure in the development of fully onchain games. It suggests that the gameplay requirements and mechanics of a game can shape the path for infrastructure, similar to the Web2 era.
Future of Fully Onchain Gaming
- Future Prospects: Despite early skepticism, fully onchain games have shown promise and potential. The report suggests that the future of these games will be shaped by the resilience, vision, and adaptability of the teams behind them.
Actionable Insights
- Investigate the Potential of Fully Onchain Games: Given the resilience and potential of fully onchain games, stakeholders should explore opportunities in this sector. This could involve investing in promising projects or developing new games.
- Consider the Role of Infrastructure: Infrastructure plays a crucial role in the development of fully onchain games. Stakeholders should consider how they can leverage or improve existing infrastructure to support game development.
- Understand the Importance of Resilience and Adaptability: The report highlights the importance of resilience and adaptability in the face of challenges. Stakeholders should consider these factors when evaluating potential investments or developing their own projects.
