Web3 news and weather | Web3 in Gaming
The success of Web3 is been undeniable, but the market in 2022 showed that while there is a lot of growth, there is a lot of risk at play.
News on Success within Web3 + Gaming Markets
the success of the gaming industry is now leaning into web3, and the climate of the gaming and content spaces within those markets.
There is a big push for gaming crypto, especially from some of the top brands and gaming companies in the world. But how will it evolve? The landscape changed significantly during the last year or so. According to a report issued by Dove Metrics and Messari, the crypto industry collectively saw $30.3 billion in funds raised during H1 2022.
OpenSea, LooksRare, Mints, X2Y2, 0x and CryptoPunks dominate the NFT spaces, as the unique digital items that are issued on a blockchain such as Ethereum or Solana, continue to make their footing within the industry.
Verified Market Research (VMR) have predicted lofty projections for the NFT market, estimating the value to rise to $231 billion by the year 2030. For reference, they valued the global NFT market at $11.3 billion in 2021, predicting that it will grow at a compound annual growth rate of 33.7% over the next eight years, with proliferation across multiple industries and walks of life being the driving factor. This is where content creator NFTs and streamer NFTs can likely come into play.
As far as blockchain gaming, DappRadar showed the landscape back in September 2022. Starting with data showing that in August 2022, on average, 847,000 daily Unique Active Wallets (UAW) interacted with some form of blockchain games, which illustrates an 11% decrease from July 2022 but still more than 50% industry’s usage.
Web3 games and metaverse projects have raised over $750 million since August 2st, 2022. This is despite the challenging economic environment, showing capabilities.
Axie Infinity surpasses $4 billion in all-time NFT sales, demonstrating just how viable gamer crypto can be. It also shows the immense value of marketing within the web3 space. There are not many outlets, aside from social media, that can be utilized for marketing and pushes.
That is were internet marketing and search engine optimization come in. That can act as a compliment, as a crypto related project can tie easily into Crypto SEO strategies, when done right. And on the flip side, non-fungible tokens (aka NFTs), can likely yield results via NFT SEO services.
One of the anchors holding the industry back is the illegitimacy and scams that happen within it, especially the belief that venture capitalists (VCs) and market makers are becoming even more skilled at concealing their tactics and actions of manipulation.
For those who are interested in keeping a finger on the pulse of these kind of things, GitHub is a great way to cross-reference on-chain and trading data.
NFT gaming could be something to watch, and there was big talk about the hacking incident that stole $635 million from the blockchain that powers game titles such as Axie Infinity, within the United States.
There is still a long way to go in bringing gaming, content creation, and esports and interweaving Web3 cohesively. Will there be a content creator crypto push for the expansion of blockchain? Will there be Esports NFTs or even Streamer NFTs on the horizon as both industries continue to grow, and each perfectly situation (seemingly) for NFT integration?
Only time will tell, but one thing is for certain, the future is vast, and, for the most part, it certainly looks bright!
