Web3 Games Overview
- What do we mean by Web3 Games?
Web3 gaming utilizes blockchain technology to provide players with actual ownership of their in-game assets and introduces novel income opportunities for game developers and studios.
The incorporation of blockchain technology into gaming opens up several possibilities:
- By employing Non-fungible tokens (NFTs), in-game items can become interoperable. This means they could be useful outside the game environment and players can trade them on public exchanges.
- Web3 wallets facilitate a seamless login into any game. These wallets enable the use of interoperable NFT assets across different games, transactions of items with cryptocurrencies, among other functions.
- Blockchain technology provides a means for in-game currencies and items to have confirmed scarcity and provenance. It also enhances transparency as the characteristics of these items are ingrained into smart contracts and are publicly accessible on the blockchain.