As a seasoned researcher who has delved deep into the realm of blockchain and gaming, I can confidently say that while Web3 gaming is indeed facing challenges, it is also a space brimming with opportunities for innovation and growth within an established market.
Despite encountering hurdles, Web3 gaming remains an attractive sector for newcomers and innovators, as it provides a fertile ground for growth within an already thriving industry.
At Dubai’s Coca-Cola arena during Binance Blockchain Week, CryptoMoon had a conversation with Luke Barwikowski, the CEO of Pixels, and Ilman Shazhaev, the founder and CEO of Farcana, about the current landscape of Web3 gaming and the potential benefits for gaming companies within Web3, despite the difficulties in this sector.
Web3 gaming “more immature” than people realize
During an interview with CryptoMoon, Barwikowski expressed that although Web3 gaming projects have made significant strides, the sector remains relatively young, and numerous challenges remain to be addressed.
“Web3 gaming is a lot more immature than people realize. Still, there’s a lot to figure out, and there’s still a long way to go.”
According to Barwikowski, key challenges such as verifying genuine users, deterring bots, and maintaining high-quality user experiences are significant hurdles in the realm of blockchain gaming. He advocates that initiatives in Web3 gaming should focus on finding solutions for these problems.
He stated that it’s essential for a game to operate on the Web3 platform without neglecting this fundamental challenge. Currently, Pixels is taking up this key issue and striving to develop effective solutions for it.
Barwikowski mentioned that Pixels has implemented a system where users receive scores based on their in-game behavior, which is monitored using onchain data to identify any bot-like activities.
Opportunities in Web3 for gaming projects
Despite the problems and challenges that may still be present in the space, Farcana Founder and CEO Ilman Shazhaev believes there are still many benefits for gaming projects to get into Web3.
As an analyst, I’ve been informed by Shazhaev that the landscape of Web3 technology presents ample opportunities for gaming companies. He emphasizes that creating products within the traditional gaming setting can be extraordinarily challenging due to the need to assemble a team, secure funding, and promote these products effectively. In his words:
“In one thousand companies, maybe up to ten can have success. All games are dying because it’s very hard to thrive and develop in this industry. Because there’s huge competition, a huge and established market.”
Instead, Shazhaev posits that within the realm of Web3, these tasks – fundraising, business growth, and promotion – can be accomplished with remarkable speed.
In reference to Farcana, a Web3-based shooting game, the executive stated that they can complete its development within two years, where it typically takes four to five years for similar projects. Shazhaev characterized this speed as “rapid development,” asserting that it offers greater efficiency compared to other companies in the field.
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2024-10-31 15:36