Lately, Web3 adoption has grown exponentially due to increased awareness of the benefits of blockchain and crypto technologies. The spur adoption of Web3 technologies has inspired developers to invest in developing advanced software to improve ownership, control, and privacy in the crypto sector.
In a recent report, the founder of an award-winning video game company, Atari, Nolan Bushnell, expressed optimism about the future of Web3 games. The executive stated that Web3 technology will be a driving factor for bringing ownership in the digital space.
Web3 Technology to Transform Gaming
Speaking at the Digital Entertainment Leadership Forum held in Hong Kong, the game developer provided a summary current trends in the gaming sector. The executive revisited past, present and future events in the gaming industry.
The official acknowledged that the Web3 games have tremendous potential to introduce ownership in the digital sector. Bushnell confirmed that games will continue to imitate some of the element experienced in real life. He stated that Web3 and blockchain technologies are yet to extend ownership in the virtual worlds.
In addition, Bushnell anticipates that games will become a primary course in schools. The executive expects schools to adopt a story and simulation approach to improve the learning experiences.
At the event, which was moderated by Chiron Group managing partner Sean Hung Bushnell, Bushnell was nicknamed by the founder of Animoca brands, Yat Siu, as the “grandfather of gaming.” In support of Bushnell’s predictions, Siu stated that soon, self-driving cars will be transformed into mobile gaming studios. The executive outlined the benefits of the Web3 games such as the monetization of gameplay.
Expected Changes in Gaming Industry
In his opinion, Siu stated that games were becoming ubiquitous in the real world. The crypto entrepreneur confessed that Web3 gaming has enabled players to earn money on average for the time they spend on games.
Even though a player versus environment dominates the gaming sector, the industry is slowly moving to a multiplayer ecosystem. Siu recognized the efforts made by Minecraft and Roblox in improving the gaming experience.
He noted that most of the players are moving away from Fortnite to online platforms to play. The official underlined that gaming lacks a comprehensive compensation system that rewards the players.
In his statement, Siu projects that Web3 will offer a promising future for gaming. He explained that the KYC and the immutable blockchain feature have commonly been used to identify humans and bots in the gaming world.
Despite the benefits of Web3 games, Siu noted that the development in the gaming sector has contributed to the rise of capitalism. The Animoca founder stated that for the last two years, the changes in the gaming sector have encouraged capitalism among the players and the game developers. The executive illustrated that the financialization of games that influenced capitalism would encourage young players to seek financial education.
The Animoca founder advocated for financial literacy in Web3 gaming in his report. He argued that the world could become safe if the players deeply understood the fundamental monetary values.