May 22, 2024
Web3 Games Ready to Level Up: Millions of Players Expected in 2024
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Web3 Games Ready to Level Up: Millions of Players Expected in 2024

The year 2024 is shaping up to be a pivotal one for Web3 gaming, with industry leaders predicting a surge in adoption fueled by exciting new titles, a potential bull market, and the growing popularity of user-generated content.

Yat Siu, co-founder of Animoca Brands, is optimistic about the year ahead, stating, “2024 is a growth year in terms of bringing people on to Web3.” He believes the number of daily active wallets playing Web3 games could climb from the current 1 million to a staggering 100 million, driven by the influx of highly anticipated titles in development during the past two years.

Siu expects the casual Web3 gaming space, particularly mobile games, to be the main driver of this growth, attracting “tens of millions, maybe even 100 million gamers.” He also sees Asia leading the charge due to its strong embrace of GameFi and NFTs and more favourable crypto regulations.

Johnson Yeh, founder of Ambrus Studio, shares Siu’s enthusiasm for the potential of a bull market to propel Web3 gaming forward. He sees free-to-play games with skin economies, similar to Counter-Strike, as holding immense potential.

However, Yeh doesn’t anticipate another wave of celebrity endorsements fueled by quick profits, believing they will take a more cautious approach after the burn many experienced during the last bull run. He predicts celebrities will focus on co-creating skins and other in-game assets with their fans, generating shared revenue through smart contracts.

The metaverse also figures prominently in Web3 gaming’s future, with both Apple and Meta making significant strides in the virtual reality (VR) space. Yeh believes Apple’s upcoming Vision Pro headset could be a game changer, potentially driving down hardware costs through high sales volumes. He sees this increased adoption as key to overcoming one of the biggest hurdles for VR adoption: accessibility.

Meanwhile, Sandbox co-founder Sebastien Borget highlights the importance of user-generated content (UGC) in Web3 gaming. He points to platforms like Roblox and Fortnite’s Unreal Editor as successful examples of UGC integration in traditional gaming and believes decentralized platforms are primed to empower creators and reward them through Web3 technologies.

Despite past controversies surrounding celebrity endorsements of crypto projects, Siu believes the trend will persist, albeit shifting away from the US for now. He cites the growing enthusiasm for NFTs in regions like the Middle East and France and anticipates a return of celebrity involvement once regulatory clarity emerges in the US.

In conclusion, Web3 gaming is poised for a breakout year in 2024. With a confluence of factors like highly anticipated game releases, a potential bull market, and innovative approaches to UGC and celebrity engagement, the industry is primed to attract tens of millions of new players and reshape the gaming landscape as we know it.

Image: freepik

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