As an analyst with a background in the gaming industry and a deep understanding of the web3 space, I strongly believe that the web3 gaming industry is at a crossroads. While the potential of decentralized gaming and true digital ownership is undeniable, the current focus on browser-based PC gaming is a missed opportunity that could relegate it to the sidelines as mobile gaming continues its dominance.
The web3 gaming sector is at a pivotal moment. Decentralized gaming and the concept of true digital ownership offer significant possibilities. However, the present emphasis on PC gaming via browsers could be a major oversight – one that risks pushing web3 gaming into obscurity as mobile gaming’s dominance persists. To match the success of the web2 games industry, it is essential to address the mobile gap in web3 gaming.
In the bustling world of mainstream gaming industry, there isn’t a single hit browser game to boast about. Contrarily, even the most prosperous web3 games currently fall short when compared to the giants in the mobile web2 gaming sector. For instance, achieving one million players or downloads is considered a significant accomplishment in web3. However, such numbers would barely make a ripple in the traditional mobile gaming market where colossal player bases are the norm.
In the global gaming market during the year 2022, mobile games held an impressive 50% dominance, whereas browser PC games, which are the conventional choice for web3 games, claimed only a paltry 17%. This substantial disparity highlights a missed opportunity for the web3 gaming industry to tap into the mobile gaming boom. Neglecting this trend could have severe consequences.
If the web3 gaming industry continues on its present course, it could end up being a perpetual secondary player, eclipsed by the dominant presence of mobile gaming giants in the market. Consequently, the established order in the web2 realm, which is ruled by mobile gaming, will likely influence and transform the web3 gaming sector as well. The key issue is whether this industry will take initiative to evolve or risk falling behind.
Prioritizing mobile infrastructure
In order to succeed in the mobile gaming market, which has taken over the industry, the web3 gaming sector must swiftly focus on creating strong mobile foundations. For developers, it is essential to have available flexible, blockchain-neutral tools that can smoothly incorporate blockchain technology into mobile games without compromising the mobile gaming experience. These tools should manage secure assets and transactions on the blockchain, as well as provide decentralized identity options and effortless cross-chain compatibility.
As a crypto investor in web3 gaming, I strongly believe that failing to prioritize essential resources will significantly impede the growth and relevance of this industry. In particular, the lack of a compelling mobile offering could hamper web3 gaming’s ability to draw in a vast and engaged user base, which is crucial for its long-term success and continuous innovation. The risk is that without such a user base, web3 gaming may become relegated to a small niche within the gaming world, overshadowed by the mainstream triumphs of mobile gaming titans.
As an industry analyst, I’d advise the web3 gaming sector to shift its strategic priorities from browser-based games towards mobile platforms. Given the explosive growth of the mobile gaming market, which surpassed $184.4 billion in 2022 and is projected to hit an astounding $775.69 billion by 2032, this move is essential for tapping into this unparalleled opportunity. The pervasive presence of smartphones and the emergence of 5G networks have made mobile the pulsating core of the global gaming landscape.
The future direction is evident: web3 gaming has the opportunity to lead the charge in mobile gaming or risk losing ground to competitors. It is crucial for developers, investors, and industry influencers to focus on building strong mobile foundations, enabling creators to develop immersive decentralized games that captivate audiences globally. By adopting mobile gaming, web3 gaming can establish its position at the forefront of gaming advancements and unlock its full potential as a game-changing industry player.
Corey Wilton serves as the co-founder and CEO of Mirai Labs, a globally based Web3 gaming studio situated in Vietnam. Notably, Mirai Labs’ inaugural launch, Pegaxy, gained significant popularity in the Philippines during 2022, ranking second among crypto projects, surpassing the reach of Ethereum, Bitcoin, and other major digital currencies. As a sought-after speaker and influential figure in the play-to-earn sector, Wilton established his first company within the crypto realm back in 2018, providing customer support services tailored to ICOs.
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2024-05-11 17:22